1st Labour Tory blow up

[motorbiking]

Yes and p60 and p11ds and occasionally p45s.

At the end of the year I do a self assessment and pay all the additional taxes due for my other incomes etc.

 

[carmanmemoranda]

Yes and p60 and p11ds and occasionally p45s.

At the end of the year I do a self assessment and pay all the additional taxes due for my other incomes etc.

Good

I wonder how much more your boss gets paid.

 

[denso13]

Well you are saying I can’t.

You could but I don't believe you are.

 

[motorbiking]

I won’t be losing any sleep over that.

 

[denso13]

At the end of the year I do a self assessment and pay all the additional taxes due for my other incomes etc.

For income outside of PAYE?

 

[motorbiking]

Do you do a tax return? Are you employed on PAYE?

 

[denso13]

Do you do a tax return?

No, no need

Are you employed on PAYE?

Yes

 

[JohnD]

For income outside of PAYE?

It would be foreign income, investment income, capital gains,directors fees, commissions, rental income and realised capital gains from his property business, trading on own account, and the side hustles.

I doubt NI would be paid on any of that.

 

[denso13]

It would be investment income, capital gains,directors fees, commissions, rental income and realised capital gains from his property business, trading on own account, and the side hustles.

So not just a simple PAYE employee only? My, my...

 

[Mrs Ten Names]

So not just a simple PAYE employee only? My, my...

Liars are coming out of the woodwork from every corner today.

 

[motorbiking]

No, no need

Yes

Thanks. I was just trying to work out if you were being deliberately stupid or just didn’t understand the process.

Since you don’t believe I am an additional rate tax payer, we can use the example of Bob the car sales man.

FY24 bob earned 180k from selling cars. He invested some money is stocks and he rents out his holiday home on Airbnb. His employer takes care of the tax and NI on his income. But since bob is a top rate tax payer he also needs to declare the interest on his savings and income from his holiday home and any dividends

 

[motorbiking]

So not just a simple PAYE employee only? My, my...

You understand that even interest on savings has to be declared ?

 

[denso13]

Since you don’t believe I am an additional rate tax payer

No, I don't believe you are a simple PAYE employee and nothing else.

 

[motorbiking]

I’m rapidly coming to the conclusion that I’ve been mean to you.

I genuinely thought you were playing the stupid act. I realise you weren’t.

 

[denso13]

FY24 bob earned 180k from selling cars. He invested some money is stocks and he rents out his holiday home on Airbnb. His employer takes care of the tax and NI on his income. But since bob is a top rate tax payer he also needs to declare the interest on his savings and income from his holiday home and any dividends

Why do you think Bob needs to keep telling everyone how wealthy he is and how much tax he pays, on an anonymous forum? Is Bob insecure?