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Fat Angry Scotsman |
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Fat Angry Scotsman World Chat Champion
Joined: 12 Jan 2021 Karma :
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Posted: 13:56 - 15 Feb 2021 Post subject: Capital Gains Tax |
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Probably a stupid question, but if you make significant gains on the sale of shares: how does HMRC actually find out that you did so they know to chin you for tax?
EDIT:
Should clarify context. I know people from other forums who made a lot of money from the GameStop share increase (not myself, I went in for the memes and made a loss, position below). These guys are going on about how they're going to be buying houses, cars, etc but think they don't need to pay tax. I am not a grass but I was wondering if there is some kind of system of checks and measures to stop people getting away with it.
https://i.imgur.com/mwhBVy2.png[/img] ____________________ PRESENT: 2018 BMW S1000XR SE Sport.
PAST: 2009 Kawasaki ER-6F. 2021 Zontes ZT-125U.
Last edited by Fat Angry Scotsman on 14:13 - 15 Feb 2021; edited 1 time in total |
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Nobby the Bastard |
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Nobby the Bastard Harley Gaydar
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Fat Angry Scotsman |
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Fat Angry Scotsman World Chat Champion
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arry |
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arry Super Spammer
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arry |
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arry Super Spammer
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Posted: 14:41 - 15 Feb 2021 Post subject: |
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Fat Angry Scotsman |
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Fat Angry Scotsman World Chat Champion
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Posted: 14:55 - 15 Feb 2021 Post subject: |
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So basically it amounts to reliance on the honour of the person to declare correctly? Seems a bit shit that people can get away with ignoring it, especially in todays world where all transactions are digital. ____________________ PRESENT: 2018 BMW S1000XR SE Sport.
PAST: 2009 Kawasaki ER-6F. 2021 Zontes ZT-125U. |
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The Artist |
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The Artist Super Spammer
Joined: 06 Jan 2008 Karma :
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Posted: 15:17 - 15 Feb 2021 Post subject: |
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Fat_Angry_Scotsman wrote: |
So basically it amounts to reliance on the honour of the person to declare correctly? Seems a bit shit that people can get away with ignoring it, especially in todays world where all transactions are digital. |
Yes, people need to self-assess. The risk you run is if HMRC decide to audit either you or perhaps even your broker and they find out you diddled them.
Tax fraud isn't a slap on the wrist type of crime and will cause a nightmare in the future when it comes to credit and whatnot. |
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arry |
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arry Super Spammer
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Freddyfruitba... |
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Freddyfruitba... World Chat Champion
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Old Thread Alert!
There is a gap of 353 days between these two posts... |
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henrywilson |
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henrywilson L Plate Warrior
Joined: 16 Apr 2020 Karma :
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Posted: 12:42 - 04 Feb 2022 Post subject: |
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I understand, but why is that so important to you? I mean, those people made some money, and if they don't want to pay taxes, why do you care about that? That's their choice, and they will have to suffer because of this decision. Besides that, even if they buy cars and houses, they'll still have to pay taxes for cars and houses! I think they have a particular argument why they don't even care about the taxes. Maybe they have generated some paystubs on https://www.paystubcreator.net/, proving they earned less and maybe they already paid them.
Last edited by henrywilson on 12:16 - 07 Feb 2022; edited 1 time in total |
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stinkwheel |
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stinkwheel Bovine Proctologist
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Fat Angry Scotsman |
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Fat Angry Scotsman World Chat Champion
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Posted: 15:59 - 04 Feb 2022 Post subject: |
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henrywilson wrote: | I understand, but why is that so important to you? I mean, those people made some money, and if they don't want to pay taxes, why do you care about that? |
Mate for FY 22/23 I am going to pay at least (could be more depending on bonus):
£23,477.27 in income tax on basic salary,
£5,638.84 in national insurance contributions,
£7,475.00 in income tax on dividends.
The government is going to fucking skull me for at least £36,591.11 next year and I am going to get nothing back for it. I don't even use the NHS because I have full private medical cover.
If the bastards can draw blood from me because I am legit with taxes, I want them to draw blood from cunts trying to dodge and duck taxes. ____________________ PRESENT: 2018 BMW S1000XR SE Sport.
PAST: 2009 Kawasaki ER-6F. 2021 Zontes ZT-125U. |
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Nobby the Bastard |
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Nobby the Bastard Harley Gaydar
Joined: 16 Aug 2013 Karma :
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Posted: 16:51 - 04 Feb 2022 Post subject: |
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Fat Angry Scotsman wrote: | henrywilson wrote: | I understand, but why is that so important to you? I mean, those people made some money, and if they don't want to pay taxes, why do you care about that? |
Mate for FY 22/23 I am going to pay at least (could be more depending on bonus):
£23,477.27 in income tax on basic salary,
£5,638.84 in national insurance contributions,
£7,475.00 in income tax on dividends.
The government is going to fucking skull me for at least £36,591.11 next year and I am going to get nothing back for it. I don't even use the NHS because I have full private medical cover.
If the bastards can draw blood from me because I am legit with taxes, I want them to draw blood from cunts trying to dodge and duck taxes. |
If you are paying that much in tax you clearly have plenty of income so no fucks given here. ____________________ trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050 |
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Skudd |
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Skudd Super Spammer
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Nobby the Bastard |
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Nobby the Bastard Harley Gaydar
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The Artist |
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The Artist Super Spammer
Joined: 06 Jan 2008 Karma :
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Posted: 17:23 - 04 Feb 2022 Post subject: |
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Fat Angry Scotsman wrote: | henrywilson wrote: | I understand, but why is that so important to you? I mean, those people made some money, and if they don't want to pay taxes, why do you care about that? |
Mate for FY 22/23 I am going to pay at least (could be more depending on bonus):
£23,477.27 in income tax on basic salary,
£5,638.84 in national insurance contributions,
£7,475.00 in income tax on dividends.
The government is going to fucking skull me for at least £36,591.11 next year and I am going to get nothing back for it. I don't even use the NHS because I have full private medical cover.
If the bastards can draw blood from me because I am legit with taxes, I want them to draw blood from cunts trying to dodge and duck taxes. |
Exactly. Bold of you to post figures as a huge amount of people are brainwashed into thinking the people earning £50k-£150k are the problem, not the oligarchs hoarding millions/billions. |
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Skudd |
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Skudd Super Spammer
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Nobby the Bastard |
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Nobby the Bastard Harley Gaydar
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Nobby the Bastard |
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Nobby the Bastard Harley Gaydar
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Skudd |
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Skudd Super Spammer
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Fat Angry Scotsman |
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Fat Angry Scotsman World Chat Champion
Joined: 12 Jan 2021 Karma :
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Posted: 18:03 - 04 Feb 2022 Post subject: |
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The Artist wrote: | Exactly. Bold of you to post figures as a huge amount of people are brainwashed into thinking the people earning £50k-£150k are the problem, not the oligarchs hoarding millions/billions. |
I don't understand why you're not allowed to be moderately successful in the UK, especially here in Scotland. Unless you're working class (which mostly doesn't exist anymore in Scotland anyway) or pretending to be working class then you'll be called a Tory, rich cunt or whatever.
I make in the very low six figures, pay all my taxes due and still get shite from cunts who are just, well: jealous. The upper-end of the middle class gets absolutely hammered, since I make over £100,000.00 I lose my personal allowance.
To the people who give the usual pish talk of "well you make enough so no fucks given", how would you like it if the government took £4 off you just because you had a tenner? You wouldn't be happy.
The £50 - 150k demographic are hammered hardest in taxes. Why? The people earning less pay less as a percentage and the people who pay more have other ways to pay themselves, are normally business owners and use their business to pay for things, have more tax-efficient wrappers and ways to hide wealth, etc. ____________________ PRESENT: 2018 BMW S1000XR SE Sport.
PAST: 2009 Kawasaki ER-6F. 2021 Zontes ZT-125U. |
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Fat Angry Scotsman |
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Fat Angry Scotsman World Chat Champion
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Skudd |
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Skudd Super Spammer
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Nobby the Bastard |
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Nobby the Bastard Harley Gaydar
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stinkwheel |
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stinkwheel Bovine Proctologist
Joined: 12 Jul 2004 Karma :
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Posted: 18:12 - 04 Feb 2022 Post subject: |
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As I've said elsewhere. I think tax returns should be a matter of public record. Then you can look up what your boss, MP or co-worker is earning and paying tax on. ____________________ “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. |
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Old Thread Alert!
The last post was made 2 years, 82 days ago. Instead of replying here, would creating a new thread be more useful? |
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