Happy New (Tax) Year

[joggerjayne]

Remember ...

Keep a thorough note of your expenses ...

Re-invest any potential profits into deductible capital expenditure ...

And ... if you are still left with a taxable sum ... buy a football team ! ... (or shares in AnswerBank)

Happy New (Tax) Year ... x

[China Doll]

Did you get round to reading any Christopher Broomyre while you were away? :c)

(Taxes are dull unless they give me money back... Which never happens).

[joggerjayne]

No, I didn't, China ...

But I have got Quite Ugly One Morning lined up for when I finish one or two of my current batch.

[craft1948]

I've just checked my humongous bank account interest..........and wished I hadn't bothered.

[joggerjayne]

Too late then, crafty ...

You needed to spend it by yesterday !

[sophie_1003]

What's the new allowance for ISAs then?

[joggerjayne]

I don't know ... I'm not an accountant.

=0/

[sophie_1003]

Aww never mind, just thought I'd be lazy and ask here instead of going to the bank website!

[joggerjayne]

I could Google it ... but that wouldn't give you anything more than you'd get yourself.

Sorry.

x

[redman41]

I've emptied my Bank Account but cannot get it all into my Matress. I'll have to buy a bigger bed JJ !!Hope Tax man is not listening !!

[sophie_1003]

It's ok I've found it now, and gone paper-free with my bank statements in the process so it's all good!

[joggerjayne]

Redman ...

Put it offshore.

You still have to pay tax on the interest, but ... you can defer the tax for 10 years. This means that, once your first year's interest has been calculated, that money continues to earn interest on the interest, and on the tax, for another 9 years ... with no additional charge by the tax authorities.