Elite 11+ shopping and chat thread

tbw

Sunshinemummy wrote: »

It is interesting, and significant changes

The tax rates on dividends received over £5,000 are now:

7.5% on dividend income within the basic rate band :T:T:T (£11,001 to £43,000 income tax 20%)
32.5% on dividend income within the higher rate band (£43,001 to £150,000 income tax 40%)
38.1% on dividend income within the additional rate band (Additional rate over £150,000 income tax 45%)
These tax rates are payable on the dividends you receive above the £5,000 dividend allowance.

Yes, but are they really saying that I won't have to pay tax at all on my modest £1500 per year Divi - and that this won't count at all towards my £1000 tax free interest I am allowed from my ordinary savings accounts ? (I won't mention the extra £5000 interest we are supposed to get on savings cos I don't understand how all that is affected by my pension income using all my personal allowance and having to pay normal tax on the excess ).

juju17

From a womble dates today AvT
Think it has been mentioned before Fresh meat 2 for £7 on bottom of receipt
1x ASDA Butcher's Selection Simply Cook Hunters Chicken (410G) £4.00 £3.33
1x ASDA Butcher's Selection Simply Cook Chicken En Croute (414G) £4.00 N/A

Chrisv

juju17 wrote: »

But that does not make sense...cos you can get £5 off £30 voucher for zero mail points....so why would you buy the paper?....seems weird to me

If you buy the paper you get a £5 coupon, no minimum spend.

If you use the code from the back of the paper you get a £5 off £30 code.

Anon

Chrisv wrote: »

If you buy the paper you get a £5 coupon, no minimum spend.

If you use the code from the back of the paper you get a £5 off £30 code.

Or in other words, buy the paper and get both .

Anon

mhoc

tbw wrote: »

Yes, but are they really saying that I won't have to pay tax at all on my modest £1500 per year Divi - and that this won't count at all towards my £1000 tax free interest I am allowed from my ordinary savings accounts ? (I won't mention the extra £5000 interest we are supposed to get on savings cos I don't understand how all that is affected by my pension income using all my personal allowance and having to pay normal tax on the excess ).

good question - we need to know this as well.

OH has a tiny bit of dividend on some inherited shares - less than £1000 a year or thereabouts and we ( ok me really as I am the family accountant!) diligently filled in a short tax form each year with the ammount. Because the ammount is so small the extra tax he needed to pay was collected through an alteration in the tax code so we got a notification when they had figured it out.

20% tax was taken off the dividend at sourse so it was just the extra bit of tax that needed to be paid

last year we got a letter to say we did not need to do a short tax form anymore

I've always kept an excel chart with the ammounts as they came in so the final figure just needed to be put on the form each year
I think I still need to keep this chart updated even so HMRC say they don't need it anymore

zippydooda

My ipint payments are showing as pending in my bank account

mhoc

juju17 wrote: »

tbw....read this http://monevator.com/how-uk-dividends-are-taxed/
you day might be better than you think

so does this mean that you get your savings interest tax free allowance of £1000 (or £500 if you are higher rate tax payer)

plus if your dividends are below £5000 - most of us - you get your dividends tax free and the nominal 20% won't be taken off at source (so actually a 20% increase)

mhoc

I can never understand the lagg in the system. if I use my debit card in a machine to withdraw cash it will show in my on line banking straight away.
but if I use my debit card to buy something it might not show for anything up to three days if its a bank holiday weekend and it won't even show as pending for at least a day.

tbw wrote: »

Jeez, now I am really walking in treacle ! That article is very interesting and, as you say, on the face of it looks like great news. I've read it twice and it seems to indicate that I won't have to pay tax at all on my shares (they produce up to around £1500 per year so less than the £5000 ceiling mentioned ). But the article only talks about dividends not interest - are they really generous enough to give us separate tax free allowances for dividends and interest ? That seems unlikely but would certainly be excellent news.

I can't even keep on top of my bank statements and even though I log all transactions my bank always recon my balance is a bit higher than my records show. And for years, when I was running the office petty cash account, I had enough extra money left over to fund cream cakes for 6 staff every perishing week ! My brain does not cope well with cash business.

Westvleteren

Thanks to 10 ways :beer:

Free tub Oppo ice cream Mint Choc or Salted Caramel 500ml



http://www.oppoicecream.co.uk/storefinder/

Think this is the one on Shopmum :cool:

Think I've stretched the page can't find a better link....

You'll just have to go to 10 ways fb page for the link. its a PDF

Why? There’s a chance you may have found some ice crystals in your Mint Chocolate or Salted Caramel Oppo recently. We’ve fixed the problem at source, but know that there are a few rogue tubs left on the shelves of our stockists. We’re perfectionists and we want to get the new stock onto shelves as quickly as possible

Sunshinemummy

tbw wrote: »

Yes, but are they really saying that I won't have to pay tax at all on my modest £1500 per year Divi - and that this won't count at all towards my £1000 tax free interest I am allowed from my ordinary savings accounts ? (I won't mention the extra £5000 interest we are supposed to get on savings cos I don't understand how all that is affected by my pension income using all my personal allowance and having to pay normal tax on the excess ).

mhoc wrote: »

good question - we need to know this as well

OH has a tiny bit of dividend on some inherited shares - less than £1000 a year or thereabouts and we ( ok me really as I am the family accountant!) diligently filled in a short tax form each year with the ammount. Because the ammount is so small the extra tax he needed to pay was collected through an alteration in the tax code so we got a notification when they had figured it out.

20% tax was taken off the dividend at sourse so it was just the extra bit of tax that needed to be paid

last year we got a letter to say we did not need to do a short tax form anymore

I've always kept an excel chart with the ammounts as they came in so the final figure just needed to be put on the form each year
I think I still need to keep this chart updated even so HMRC say they don't need it anymore

mhoc wrote: »

so does this mean that you get your savings interest tax free allowance of £1000 (or £500 if you are higher rate tax payer)

plus if your dividends are below £5000 - most of us - you get your dividends tax free and the nominal 20% won't be taken off at source (so actually a 20% increase)

I read it as if your dividend (and assuming whole income) is below the basic tax rate you don't pay tax.

But given this is the tax man.... I think they will interpret the rules in different ways, I think mhoc is right to keep all records up to date.