Economic Living Is The Exercise

tweets

Just looked on my Mr T clubcard account and I got no coupons that's why postie not posted any

mhoc

tbw wrote: »

Thats exactly why I've done so little in the past year and why I've packed it up this year. In previous years any losses have always been allowed against pensions etc and I've had a small rebate at times though. I still think I have missed something on the form somewhere.

next tax year we get a certain amount in savings interest and dividend without paying any tax - think its £1000 for normal mortals.
so that then just means tax on your pensions - I thought that they paid state pension tax free and then taxed your works pension - as if it was a 2nd job
assuming your pensions together come to more than the normal tax allowance.

is this correct, that they just take the tax from the works pension or do they split it between the 2?

This is going to apply to all of us as the government want every person to have a works pension plus a state pension so we will all be in the position of having at least 2 sources of income. In reality because we are all living longer we might have 2 or 3 careers and end up with 2 or 3 sets of work pensions in addition to state pension.

which will mean vast numbers of us tackling self assessment forms every year

at the moment you would need vast amounts in savings and shares to have more than £1000 a year in interest but who know if interest rates will ever go up.

In reality though with the state pension age rising my OH will be too old and haggard to care about completing a self assessment tax form for the atrocity of having 2 sources of income, state and works pension .

OH completes a short form self assessment form every year, has done for years because he has a tiny amount of inherited shares and you don't pay the full amount of tax on dividends at the mo. The extra bit of tax they claim back by adjusting the tax code. This year this means another £30 a month in tax. Next year we will be free of the wretched form and no tax code adjustment, deep joy!

mhoc

another question, I might need to find the correct board for this question.

If you are self employed and pay a reduced national insurance stamp of about £6 a week what happens when you go sick and cant work?

Friend is self employed, always has been, pays the reduced stamp so she rang DWP, completed the forms and send off her medical certs, had an operation 9 weeks ago and at least another 4 before she gets signed off. she is still under the care of the hospital and the doctor.

all she rang them for was to ask about her national insurance, did she have to pay it whilst not working and what to do about it. Oddly when she rang they asked for her bank details and she was told it was needed for completion of the application.

If you are self employed you don't get sick pay.

but that's what seems to be happening, firstly they seem to have paid her for 4 weeks in arrears and now a regular amount is going in each week and she cant figure out exactly what is happening -

Obviously she is not spending any of it, they had an issue with the tax man before so now live in mortal fear and their paperwork is very meticulous as they don't want a repeat.

I said to write to DWP and explain the situation - sometimes things get muddled over the phone.

has this happened to anyone else

mhoc

tweets wrote: »

Just looked on my Mr T clubcard account and I got no coupons that's why postie not posted any

I checked mine a few weeks ago and zilch on mine as well - Mr T does not love us any more

[Deleted User]

Helans don't worry Lego doesn't de-value so these wont loose half as much value as skylanders, actually Lego is a better investment than gold or stocks / shares, I should know me and OH make our living from the plastic brick ;-)

curl_girl

vouchercrazy wrote: »

You could do c&c or h/d for online apg's

Thanks but have had my account suspended, only done a few shops as well, because I queried lost vouchers!
They then cancelled a non glitch shop and kept the money, to pay for something else that I had used a voucher for!!


Gave up with call centre after loads of calls and rude staff.

xxlouisexx56

henlans wrote: »

I wanted to post a really good story that I did with my child that was 7 in july.. He was giving about £250 from family and friends for his birthday.. because he was so excited about the lego dimensions that come out today! He saved ALL his money to spend today.

When the fanta glitch come.. I said to him.. how about you help me and you can have all the profits from the 500 bottles of pop and he was so excited to help.

So I took him out on saturday and the sunday and we bought 500
(I bought more but this was with him) bottles of pop with his £250 and sold them for 70p a bottle. so his £250 investment gave him about £235 back in APG's plus I added a little to top it up. He now has £350 worth pop to keep selling and half of it has gone and in the end had £220 in APGS and hes now at school and looking forward to this.

He worked hard, hes learned about how to make money, how to sell drinks.. hes only 7 and was happy to help.

But this is what he ended up with today for £200 in APG's and has £20 left.




All 100% free He now wants to do it again for the next batch that comes out next year. So he got back his £250 and a extra £100

BTW.. Personally.. for £200 I think this is so over priced.. but in the end it was free..

Makes it all worth it in the end, doesn't it x

tweets

mhoc wrote: »

I checked mine a few weeks ago and zilch on mine as well - Mr T does not love us any more

He doesn't I wish Sainsbobs was nearer would shop there more often

curl_girl

Tinyshoes wrote: »

Home bargains had 4 pack John West tuna chunks in spring water for £2.49. One of their so called star buys definitely best price I have seen in a while. :cool:

I wombled a pack of this in the middle of A car park, felt really guilty picking it up, no one was about, I would have been gutted if I had lost it!


Off for a catch up...

savvy_sal

mhoc wrote: »

next tax year we get a certain amount in savings interest and dividend without paying any tax - think its £1000 for normal mortals.
so that then just means tax on your pensions - I thought that they paid state pension tax free and then taxed your works pension - as if it was a 2nd job
assuming your pensions together come to more than the normal tax allowance.

is this correct, that they just take the tax from the works pension or do they split it between the 2?

This is going to apply to all of us as the government want every person to have a works pension plus a state pension so we will all be in the position of having at least 2 sources of income. In reality because we are all living longer we might have 2 or 3 careers and end up with 2 or 3 sets of work pensions in addition to state pension.

at the moment you would need vast amounts in savings and shares to have more than £1000 a year in interest but who know if interest rates will ever go up.

In reality though with the state pension age rising my OH will be too old and haggard to care about completing a self assessment tax form for the atrocity of having 2 sources of income, state and works pension .

Afternoon

I get state pension and no tax is paid on it.I also have 3 private pensions which are taxed.

I do not have to fill in a self assessment form.