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"You must be mistaken, the other lot are in now, they don’t do that sort of thing, it’s the other other lot that do that and they got booted out, we are all good now "Power corrupts. | |||
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"Same shit as all the others. When will these cunts realise if they didn't earn it and someone gives you something.. Declare it.. And pay the fuckingbtax tax too. https://www.bbc.co.uk/news/articles/c8djply3z18o " Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. | |||
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"Same shit as all the others. When will these cunts realise if they didn't earn it and someone gives you something.. Declare it.. And pay the fuckingbtax tax too. https://www.bbc.co.uk/news/articles/c8djply3z18o Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. " So you are a tax evader
We need to remember that next time you get on your moral high horse  | |||
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"Same shit as all the others. When will these cunts realise if they didn't earn it and someone gives you something.. Declare it.. And pay the fuckingbtax tax too. https://www.bbc.co.uk/news/articles/c8djply3z18o Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader
We need to remember that next time you get on your moral high horse "I know these folks inhabit a world which not many people are familiar. But how can anyone with a brain cell not realise that if someone gives your wife 20k worth of clothing, then it might be considered to put you in their debt and should be declared? I mean they'll have to go some to catch up with the other lot but fucking hell not a good place to start | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco." "So you are a tax evader We need to remember that next time you get on your moral high horse" If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable." Perhaps the clothes were a gift. I haven't an opinion as I haven't looked into it. I hope it's a non issue like the covid curry story. And does it not matter that the dresses were for the Mrs not the Mr?  | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable." Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years? | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco." "So you are a tax evader We need to remember that next time you get on your moral high horse" "If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable." "Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years?" I'm very sure. If no work is being done, then the payment of 'pocket money' by aunt Beatrice can't possibly be employment. Gifts are not taxable. The 7 year rule isn't a hard and fast limit, it's all down to the purpose of the gift. If it's clear that aunt Beatrice knew she was dying and was trying to distribute the inheritance early, then tax might be liable. If aunt Beatrice has been paying pocket money to her favourite nephew for the past 20 years, and she died at the age of 60 in a car accident, then it'll be hard for HMRC to claim that it was inheritance tax evasion. | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years? I'm very sure. If no work is being done, then the payment of 'pocket money' by aunt Beatrice can't possibly be employment. Gifts are not taxable. The 7 year rule isn't a hard and fast limit, it's all down to the purpose of the gift. If it's clear that aunt Beatrice knew she was dying and was trying to distribute the inheritance early, then tax might be liable. If aunt Beatrice has been paying pocket money to her favourite nephew for the past 20 years, and she died at the age of 60 in a car accident, then it'll be hard for HMRC to claim that it was inheritance tax evasion." I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.” | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years? I'm very sure. If no work is being done, then the payment of 'pocket money' by aunt Beatrice can't possibly be employment. Gifts are not taxable. The 7 year rule isn't a hard and fast limit, it's all down to the purpose of the gift. If it's clear that aunt Beatrice knew she was dying and was trying to distribute the inheritance early, then tax might be liable. If aunt Beatrice has been paying pocket money to her favourite nephew for the past 20 years, and she died at the age of 60 in a car accident, then it'll be hard for HMRC to claim that it was inheritance tax evasion. I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.”" We've given monthly amounts to all our kids, for years and have been advised its not counted for tax purposes and does not need to be declared. However any interest that occurs through this money is taxable. Luckily my kids spend it as fast as we give it haha. But check this up I might be wrong as he sorts this normally. Think we may have used credit cards at one point, giving them additional cards on our accounts but not sure if that's still the case or how that worked, but gifts should be fine. As for the 7 year'limitation' rule, that's not rock steady and HMRC can go back as far as they like if they think you've tried to avoid tax, I do know this from some personal experience. Mrs x | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years? I'm very sure. If no work is being done, then the payment of 'pocket money' by aunt Beatrice can't possibly be employment. Gifts are not taxable. The 7 year rule isn't a hard and fast limit, it's all down to the purpose of the gift. If it's clear that aunt Beatrice knew she was dying and was trying to distribute the inheritance early, then tax might be liable. If aunt Beatrice has been paying pocket money to her favourite nephew for the past 20 years, and she died at the age of 60 in a car accident, then it'll be hard for HMRC to claim that it was inheritance tax evasion. I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.”We've given monthly amounts to all our kids, for years and have been advised its not counted for tax purposes and does not need to be declared. However any interest that occurs through this money is taxable. Luckily my kids spend it as fast as we give it haha. But check this up I might be wrong as he sorts this normally. Think we may have used credit cards at one point, giving them additional cards on our accounts but not sure if that's still the case or how that worked, but gifts should be fine. As for the 7 year'limitation' rule, that's not rock steady and HMRC can go back as far as they like if they think you've tried to avoid tax, I do know this from some personal experience. Mrs x" So basically the GOV.UK guidance is rubbish 🤷🏻♂️ | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years? I'm very sure. If no work is being done, then the payment of 'pocket money' by aunt Beatrice can't possibly be employment. Gifts are not taxable. The 7 year rule isn't a hard and fast limit, it's all down to the purpose of the gift. If it's clear that aunt Beatrice knew she was dying and was trying to distribute the inheritance early, then tax might be liable. If aunt Beatrice has been paying pocket money to her favourite nephew for the past 20 years, and she died at the age of 60 in a car accident, then it'll be hard for HMRC to claim that it was inheritance tax evasion. I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.”We've given monthly amounts to all our kids, for years and have been advised its not counted for tax purposes and does not need to be declared. However any interest that occurs through this money is taxable. Luckily my kids spend it as fast as we give it haha. But check this up I might be wrong as he sorts this normally. Think we may have used credit cards at one point, giving them additional cards on our accounts but not sure if that's still the case or how that worked, but gifts should be fine. As for the 7 year'limitation' rule, that's not rock steady and HMRC can go back as far as they like if they think you've tried to avoid tax, I do know this from some personal experience. Mrs x So basically the GOV.UK guidance is rubbish 🤷🏻♂️" ANY guidance from GOV.UK is a pile of rubbish. | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years? I'm very sure. If no work is being done, then the payment of 'pocket money' by aunt Beatrice can't possibly be employment. Gifts are not taxable. The 7 year rule isn't a hard and fast limit, it's all down to the purpose of the gift. If it's clear that aunt Beatrice knew she was dying and was trying to distribute the inheritance early, then tax might be liable. If aunt Beatrice has been paying pocket money to her favourite nephew for the past 20 years, and she died at the age of 60 in a car accident, then it'll be hard for HMRC to claim that it was inheritance tax evasion. I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.”We've given monthly amounts to all our kids, for years and have been advised its not counted for tax purposes and does not need to be declared. However any interest that occurs through this money is taxable. Luckily my kids spend it as fast as we give it haha. But check this up I might be wrong as he sorts this normally. Think we may have used credit cards at one point, giving them additional cards on our accounts but not sure if that's still the case or how that worked, but gifts should be fine. As for the 7 year'limitation' rule, that's not rock steady and HMRC can go back as far as they like if they think you've tried to avoid tax, I do know this from some personal experience. Mrs x So basically the GOV.UK guidance is rubbish 🤷🏻♂️" I'm dumbfounded at such a suggestion. | |||
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"I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.”" Tax law is complex, and difficult to interpret. One thing that is clear is that there are no specific amounts laid down in law to cover what counts as a gift. The £3000 comes from cases which HMRC have taken to court over the years. It's now been established by judges that £3000 is a reasonable amount for a person to give away without HMRC having grounds for an investigation. So tax guidance is that £3000 is the limit, after that you have to declare it and let HMRC decide if it should be taxed or not. | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years? I'm very sure. If no work is being done, then the payment of 'pocket money' by aunt Beatrice can't possibly be employment. Gifts are not taxable. The 7 year rule isn't a hard and fast limit, it's all down to the purpose of the gift. If it's clear that aunt Beatrice knew she was dying and was trying to distribute the inheritance early, then tax might be liable. If aunt Beatrice has been paying pocket money to her favourite nephew for the past 20 years, and she died at the age of 60 in a car accident, then it'll be hard for HMRC to claim that it was inheritance tax evasion. I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.”We've given monthly amounts to all our kids, for years and have been advised its not counted for tax purposes and does not need to be declared. However any interest that occurs through this money is taxable. Luckily my kids spend it as fast as we give it haha. But check this up I might be wrong as he sorts this normally. Think we may have used credit cards at one point, giving them additional cards on our accounts but not sure if that's still the case or how that worked, but gifts should be fine. As for the 7 year'limitation' rule, that's not rock steady and HMRC can go back as far as they like if they think you've tried to avoid tax, I do know this from some personal experience. Mrs x So basically the GOV.UK guidance is rubbish 🤷🏻♂️ ANY guidance from GOV.UK is a pile of rubbish." As far as I understand it, there is no suggestion he should pay tax on all the things this major donor buys for him and his wife. The problem is that he did not declare these gifts, which is a breech of the rules. Probably doesn't help that the guy that bought all those things, was the same one that found himself with a pass to downing street. Now SKS has a new pair of specs (bought for him, as times are hard), he will be able to read the rule book  | |||
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"As far as I understand it, there is no suggestion he should pay tax on all the things this major donor buys for him and his wife. ..." There isn't ... yet. If these things are just gifts, and Lord Waheed Alli is just a bloody nice bloke, then no tax would be payable. On the other hand if these gifts were given in return for Alli getting something he wanted, then they count as "payment in kind", and would indeed be taxable. | |||
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"I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.” Tax law is complex, and difficult to interpret. One thing that is clear is that there are no specific amounts laid down in law to cover what counts as a gift. The £3000 comes from cases which HMRC have taken to court over the years. It's now been established by judges that £3000 is a reasonable amount for a person to give away without HMRC having grounds for an investigation. So tax guidance is that £3000 is the limit, after that you have to declare it and let HMRC decide if it should be taxed or not." So basically HMRC can decide either way? | |||
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"I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.”" "Tax law is complex, and difficult to interpret. One thing that is clear is that there are no specific amounts laid down in law to cover what counts as a gift. The £3000 comes from cases which HMRC have taken to court over the years. It's now been established by judges that £3000 is a reasonable amount for a person to give away without HMRC having grounds for an investigation. So tax guidance is that £3000 is the limit, after that you have to declare it and let HMRC decide if it should be taxed or not." "So basically HMRC can decide either way?" Yes. And of course they always decide that tax is due. That's why we have lots of specialist tax accountants and lawyers to help keep HMRC in check. | |||
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"You must be mistaken, the other lot are in now, they don’t do that sort of thing, it’s the other other lot that do that and they got booted out, we are all good now
Power corrupts."If so, it corrupts very quickly! | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable." To a point, yes. But once thresholds are breached, gifts are taxable | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. Perhaps the clothes were a gift. I haven't an opinion as I haven't looked into it. I hope it's a non issue like the covid curry story. And does it not matter that the dresses were for the Mrs not the Mr? "Buying influence. And why can’t SKS buy his own clothes? And his own glasses? And his wife’s clothes? Why is he indebting himself to people like alli, instead of staying above scrutiny? Shaky start. | |||
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"Does this include Christmas and birthday presents? I'm not declaring my Thornton's continental chocolates. Sod that. I get 5k every month as a modest allowance from my eccentric aunt Beatrice. I'm not declaring that. Or my jaguar cjs 3.6. That was a gifts from uncle Jimmy in Monaco. So you are a tax evader We need to remember that next time you get on your moral high horse If any of the above were actually true, and they are just given as gifts, then he doesn't need to declare them or pay tax on them. Gifts are not taxable. Are you sure a monthly £5k would be accepted by HMRC as a gift rather than income. What if Aunt Beatrice dies at any point in the next seven years? I'm very sure. If no work is being done, then the payment of 'pocket money' by aunt Beatrice can't possibly be employment. Gifts are not taxable. The 7 year rule isn't a hard and fast limit, it's all down to the purpose of the gift. If it's clear that aunt Beatrice knew she was dying and was trying to distribute the inheritance early, then tax might be liable. If aunt Beatrice has been paying pocket money to her favourite nephew for the past 20 years, and she died at the age of 60 in a car accident, then it'll be hard for HMRC to claim that it was inheritance tax evasion. I know I should just talk to my accountant but the GOV.UK guidance is confusing in that case… “Annual exemption You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’. You can give gifts or money up to £3,000 to one person or split the £3,000 between several people. You can carry any unused annual exemption forward to the next tax year - but only for one tax year.”We've given monthly amounts to all our kids, for years and have been advised its not counted for tax purposes and does not need to be declared. However any interest that occurs through this money is taxable. Luckily my kids spend it as fast as we give it haha. But check this up I might be wrong as he sorts this normally. Think we may have used credit cards at one point, giving them additional cards on our accounts but not sure if that's still the case or how that worked, but gifts should be fine. As for the 7 year'limitation' rule, that's not rock steady and HMRC can go back as far as they like if they think you've tried to avoid tax, I do know this from some personal experience. Mrs x" Different rules for gifting to your own children, particularly under a certain age and if they are in full time education. | |||
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"I think the relevance is quid pro quo. Most recently, the prime minister declared the fact Lord Alli had provided him with accommodation for several weeks, which is recorded as being worth more than £20,000. Is this coincidental? For 20k I'll get you into downing Street. In August, it emerged Lord Alli had been given a temporary Downing Street security pass despite having no formal government role" Exactly. Murky relationship. I can’t believe SKS has been so naive, particularly since he has had his knuckles rapped several times before for other “oversights” on declarations. | |||
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