Everyone lost in the Ether II

bubbs

Zara Knitted Scarf: Choice of three colours £3.99
http://www.hotukdeals.com/deals/zara-knitted-scarf-choice-three-colours-2343253

Sad_Dad

Foreigner, as in doing some work for cash in hand, often using work's equipment without their consent and not declaring what you have earned. Sometimes doing the work when they should be working for the company that employs them.

LANGO1966

Brand guarantee results from today. 2 x potato vouchers, 1 x dairy voucher and 1 x free pizza

Description Tesco Asda Sainsbury's Morrisons*
1x
HARIBO MAOAM GIANT STRIPES 60 PCE
£0.10 £0.10 £0.10 £0.10
1x
MAOAM SOUR GIANT STRIPES 15G
£0.10 £0.10 n/a n/a
1x
DR. OETKER RISTORANTE PIZZA MOZZARELLA 335G
£2.50 £1.50 £2.50 £2.50
2x
MULLER FRUIT CORNER CHERRIES 150G
£1.02 † £0.92 £1.02 £0.73
2x
MULLER FRUIT CORNER S/BERRY 150G
£1.01 † £0.92 £1.02 £0.73
2x
MULLER CRUNCH CORNER VANILLA CHOC BALLS 135G
£1.02 † £0.90 £1.03 £0.72
2x
MULLER CRUNCH CORNER BANANA CHOC FLAKES 135G
£1.02 † £0.92 £1.02 £0.73
4x
MULLER CORNER CHOC DIGESTIVE 135G
£2.04 † £1.84 £2.04 £2.72
3x
MULLER RICE STRAWBERRY 180G
£1.53 † £1.38 £1.53 £1.09
3x
MULLER RICE APPLE 180G
£1.53 † £1.38 £1.53 £2.04
1x
MULLER RICE ORIGINAL 180G
£0.51 † £0.46 £0.51 £0.36
2x
MCCAIN ROASTS 800G
£4.00 £2.00 n/a n/a
Tesco comparable total £16.38 £12.28 £12.28
Competitor shop total £12.42 £12.30 £11.72
The difference £3.96 -£0.02 £0.56
cost less cost more cost less
n/a Comparable Grocery Product match could not be found on the day of purchase

Sunshinemummy

harryhfp wrote: »

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/

Flip........ shame I don't have any dependent children!

On a serious note, I do need to set up a pension scheme....... apparently (in all the letters that the government keeps sending me!).

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.

I do think that when lending money, it needs to be seen as a gift.

If it is repaid, then it is a bonus.

Once you have leant and it is not repaid... if you lend again you are really given them open access to your bank account!

:o:o:o:o:o

silvercar

TrulyMadly wrote: »

Just caught the back end of a Radio ad.....Sunday Times doing £5 off a £40 spend at M&S.

Hope I heard that right.

I've been singing along to carols on classic FM.....ooh get me:D

That's right. A voucher near the back of the main section of the paper.

TrulyMadly

silvercar wrote: »

That's right. A voucher near the back of the main section of the paper.

What dates are on it please silvercar?

TrulyMadly

gocat wrote: »

Morning all :wave:

DD flown back to oz last night. Plane had stopover at some middle east country. Was chatting to her online at 4.30am :eek:
Wonders of modern technology eh :T Only another 7 hours to go :eek:
Said plane was very juddery on take off due to weather. Surprised it managed to take off at all :eek:
Cried my eyes out all night. Gets harder and harder to see her off each time. She's been there about 8 years now. Been a wonderful month.
Anyway, back to every day mundane life again
Thanks to OP who posted that the Barilla vouchers can still be printed out after them previously stopping it.
I managed to print out 2 but each time it wants to download some software. Could feel OH watching me and wondering what I was up to so abandoned printing (he is a bit funny about me downloading these softwares that print the vouchers for some unknown reason) . So have 8 more to print out. Would I be able to forward these to someone to print out for themselves. I was only printing them out to put the Barilla stuff in the foodbank.
tia

Oh I feel for you gocat.....it doesn't matter how old they are they will always be our babies:o
Pleased you are keeping yourself busy anyway........that's always a good tactic.....

TrulyMadly

Onkens are honking.......that translates into still comparing:T:T

Womble today A v T

1x Pampers New Baby Size 1 (Newborn) Nappies Essential Pack (45) £8.00 £7.00

silvercar

harryhfp wrote: »

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/

I think the 2k is something to do with contracted out NI rates.

Net result on income in the current year is

A: 50k-32k+8k+2k=28k
B: -5k
Tax credits:13k

Is that right? Not sure how tax credits exactly work and whether they give you real money tax free.

Assuming it is then A is going to pay some tax on that. Even if it is only 20% of 18k, that is nearly 4k. So household income would be 32k.

The big flaw is that the government is going to start assuming that anyone who is self employed earns at least the NMW. So the -5k is going to become an assumed ~10k. That will reduce the tax credits.

TrulyMadly

Izzy65.....how are you doing?