Everyone lost in the Ether II

MKS

Tinyshoes wrote: »

Sorry I was out but I have responded now and Mr TS opened one tonight at this friends and it was flowing well although they do piddle at the end apparently.

Is that the keg or Mr TS?:rotfl::rotfl:

harryhfp

OK I'm going to have a stab at the £40K pension contribution scenario.


The married couple A & B have earnings as follows: A £50K, B self employed with a loss-making business -£5K.


A pays the maximum £40K into her pension. She will actually pay £32K as the pension provider will claim back basic rate tax from HMRC - this is £8K making the total £40K.


A claims back another £8K through her self assessment tax return because she is a higher rate tax payer. So she has actually (net) paid £24K to get £40K of pension contributions.


Because A & B are entitled to tax credits, they need to calculate their joint income. Personal pension contributions are offset against A's income, as is B's business loss. So £50K of income minus £40K of pension contributions, minus £5K of B's business loss = £5K.


A & B have 3 children so they will get the full tax credit entitlement for 2015/16 = c.£13K.


They will also benefit from a reduction in A's income tax (because of the pension contributions) = a rebate of about £2K, a rule I do not understand, perhaps somebody will explain?


So effectively thanks to tax relief on pensions contributions & the way the tax credit system works, A & B are entitled to approx. £31K of help from the Govt.


The main disadvantage is that pensions bring their own problems, including inflexibility/ poor access to money/ risks of investing etc. However, the new rules on making it easier to get access to your money tied up in pensions make this less of an issue than in the past.


http://www.pensionsadvisoryservice.org.uk/about-pensions/saving-into-a-pension/pensions-and-tax/tax-relief-and-contributions
http://www.which.co.uk/money/tax/guides/tax-credits/working-tax-credits-how-much-you-get/

harryhfp

Sad_Dad wrote: »

Morning All,

Someone owes me a considerable amount of money, they are ignoring my texts and phone calls.

I know where they live so can go around and try and sort it out but things could get nasty, I'm thinking I might have to report them to the police but is that OTT?

Has any member of the elite ever been in a similar situation to this and can offer me some advice?

Thanks,
Sad_Dad

Yes, I know somebody who bought a flat for his sister when she was a student. He lent her the deposit & guaranteed the mortgage - she got a pal to stay as a tenant and they paid the mortgage instead of rent. The agreement was that when the flat was eventually sold, he would get back his money and half the capital increase.


Things turned nasty when she sold because she just wanted to repay the deposit loan to her brother plus her idea of fair interest, but no share of capital increase. I understand it took years of nagging and getting other members of the family on board before she would do the decent thing.


They have not spoken to each other for years and probably never will.

Sad_Dad

silvercar wrote: »

Letter Before Action, sent by post so they know you have confirmation it was sent. Shows that you are taking it seriously and will take steps to get the debt repaid.

Police will only take an interest if it is theft, if it is tardiness in repaying a loan they will consider it a civil matter and not get involved.

99p wrote: »

Where do you start with this one?

Is it a close friend? Family? Work mate?
Are you sure they're ignoring you? Could they have a new phone number?
Personally I would try the "keep it friendly" approach, explain that you're struggling for money yourself and ask if they can maybe start paying you an agreed amount each week.
Failing that - send the boys round :eek:

Thank you both for your replies.

Not a friend or family member but someone we know who was supposed to do some work for me but kept letting us down so said I wanted the money back that we had already given him.

He said he would pay me back a few weeks ago but nothing so far, definitely ignoring us and I don't see why I should have to chase him.

Sending a letter seems like a good approach.

cjj_2

Morning all hope everyone is well.

Enjoying a weekend away and it's our anniversary today. Just heading to Gloucester Keys xx

spasguidedogs

good morning

Has the search this thread stopped working? Or is it just not working for me?

Sad_Dad

harryhfp wrote: »

Yes, I know somebody who bought a flat for his sister when she was a student. He lent her the deposit & guaranteed the mortgage - she got a pal to stay as a tenant and they paid the mortgage instead of rent. The agreement was that when the flat was eventually sold, he would get back his money and half the capital increase.


Things turned nasty when she sold because she just wanted to repay the deposit loan to her brother plus her idea of fair interest, but no share of capital increase. I understand it took years of nagging and getting other members of the family on board before she would do the decent thing.


They have not spoken to each other for years and probably never will.

Thanks harry, I will try and understand your pension post in a minute.

I don't have to worry about falling out with this person, just want my money back, he is taking the p.

MKS

tweets wrote: »

Don't think so I don't like Star Wars

Poppy been poorly but she better now and I am ok thank you .

Hope you are well

I'm good, thanks. On way to see DGS as it's his 11 th. birthday today.

MKS

FloFlo wrote: »

I haven't been on here for a good while but would like to wish you well. x

:hello: FloFlo. Hope all is ok with you and yours.

TrulyMadly

For the NE coven.....free roasties at my local A

Bad news is there's no printer roll left in machines:o

Sad dad......have you proof of payment ie did you pay by chequered or was it cash......is it a legit business?