Help & FAQs    Search BCF    Members    Groups    Events Calendar
Resend my activation email : Register : Log in 
BCF: Bike Chat Forums


Tax

 Reply to topic
Bike Chat Forums Index -> Politics & Current Affairs
View previous topic : View next topic  
Author Message

jimbothe
World Chat Champion



Joined: 29 Sep 2006
Karma :
PostPosted: 18:28 - 27 Dec 2007    Post subject: Tax Reply with quote
Is there anything the taxman doesnt tax us on?

Last year I got a tax rebate. I got taxed on it Shocked I thought that it was over payment money they had already taken from me in the first place?


A very close friend recently lost his last elder relative. Received a nice sum of money but got taxed on that (I think he called it death duty). He was going to give some to his son but they wanted to tax that as well (he said they called it gift tax).

What on earth is going wrong with this country?
____________________
Check out our tackle shop on Facebook:
https://www.facebook.com/#!/JklTackle
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

Itchy
Super Spammer



Joined: 07 Apr 2005
Karma :
PostPosted: 18:40 - 27 Dec 2007    Post subject: Reply with quote
Hold on you got taxed on a tax rebate, you didn't declare it as other income did you on your tax return?.

oh note NI is NEVER EVER EVER EVER EVER EVER EVER EVER EVER EVER ever refundable well it is but it is very very very rare.

Death duty? , you mean inheritance tax?, means your benefactor had an estate worth over 290K (ish) , possibly as the rest of it ie the free untaxed bit was given over to somebody else.

Gift tax is non existant unless it is a huge wodge of over 290K (ish) it becomes tax free if you live for 7 years and don't tag conditions onto it. If you die before the 7 year period = taxable.

oh see the stats below, yes 100%+ of income tax is spent on welfare (which means dole and associated benefits oh and pensions).

I correct my earlier remark which was misleading in that social protection includes pensions and associated benefits.
____________________
Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.

Last edited by Itchy on 18:44 - 27 Dec 2007; edited 1 time in total
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

stinkwheel
Bovine Proctologist



Joined: 12 Jul 2004
Karma :
PostPosted: 18:41 - 27 Dec 2007    Post subject: Reply with quote
Don't think there's any tax on biscuits, providing they aren't chocolate ones. Or milk, providing you drink it at home and not in the shop.
____________________
“Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles.
 Back to top
View user's profile Send private message You must be logged in to rate posts

Itchy
Super Spammer



Joined: 07 Apr 2005
Karma :
PostPosted: 18:46 - 27 Dec 2007    Post subject: Reply with quote
stinkwheel wrote:
Don't think there's any tax on biscuits, providing they aren't chocolate ones. Or milk, providing you drink it at home and not in the shop.


there is famous case law on biscuits ,
Quote:

For example the infamous UK Jaffa Cake case. Biscuits and cakes are considered a necessity by UK law and are zero rated. Chocolate covered biscuits however are a luxury and subject to VAT at 17.5%. McVities and HM Customs & Excise3 argued over whether the Jaffa Cake was a cake (no VAT) or a chocolate biscuit (lots of VAT). The argument had to be taken to a Tribunal (kind of like a court) to be resolved. In the end McVities baked a 12" Jaffa Cake which convinced the Tribunal Chairman of the general cakeiness of the Jaffa Cake

____________________
Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

jimbothe
World Chat Champion



Joined: 29 Sep 2006
Karma :
PostPosted: 19:04 - 27 Dec 2007    Post subject: Reply with quote
Quote:
Hold on you got taxed on a tax rebate, you didn't declare it as other income did you on your tax return?.


I was working in the same job I have been for a while now. All of a sudden I get a letter through saying I had a tax rebate. It showed what the rebate was minus the tax on that amount and I got what was left. Is this wrong? It's going back to last year now but if it is wrong can I challenge it? I dont do tax returns as I am employed.

Quote:
Death duty? , you mean inheritance tax?,


Not mine, my friends. He had to pay a sum of money (not sure how much). I know he had to sell off a properety to pay the fees though. What he 'got' was worth a fair bit on paper but I dont know what it was worth in the real world.

Quote:
Gift tax is non existant unless it is a huge wodge of over 290K (ish) it becomes tax free if you live for 7 years and don't tag conditions onto it. If you die before the 7 year period = taxable.



yes it was a fair bit more than that.
____________________
Check out our tackle shop on Facebook:
https://www.facebook.com/#!/JklTackle
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

Dragonfly
Super Spammer



Joined: 05 Sep 2005
Karma :
PostPosted: 20:15 - 27 Dec 2007    Post subject: Reply with quote
There is no tax on drugs but then they dont like that very much. Shifty
____________________
All the breast.
Muzza on Binge:
He's too busy beating the everloving shit out of Lizzie to notice this thread has taken a turn down Drama Avenue and stopped off at the popcorn shop.
 Back to top
View user's profile Send private message You must be logged in to rate posts

bob a
World Chat Champion



Joined: 18 Aug 2006
Karma :
PostPosted: 08:24 - 28 Dec 2007    Post subject: Reply with quote
Sex without precatutions, however they would tax you on the out'cum'
 Back to top
View user's profile Send private message You must be logged in to rate posts
Old Thread Alert!

The last post was made 16 years, 124 days ago. Instead of replying here, would creating a new thread be more useful?
  Display posts from previous:   
This page may contain affiliate links, which means we may earn a small commission if a visitor clicks through and makes a purchase. By clicking on an affiliate link, you accept that third-party cookies will be set.

Post new topic   Reply to topic    Bike Chat Forums Index -> Politics & Current Affairs All times are GMT + 1 Hour
Page 1 of 1

 
 You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum

Read the Terms of Use! - Powered by phpBB © phpBB Group
 
Debug Mode: ON - Server: birks (www) - Page Generation Time: 0.06 Sec - Server Load: 0.53 - MySQL Queries: 17 - Page Size: 59.2 Kb