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just curious after seeing a NR poster.
I pay all the household bills out of my account, the SO pays a chunk each month towards the bills.
Is that Other income? should i as an upstanding citizen declare and pay tax on the money the SO gives????
No
No, even if you have a lodger you can get up to about £4k per year in the form of rent before you have to start paying any tax on it.
No. I presume SO already pays tax on their income if she is over the threshold? Don't pay twice.
Don't pay twice.
since when has don't pay twice been an issue? earn pay tax, save pay more tax and spend more tax....
i didn't think you would but knowing how tax works/doesn't work nothing would surprise me.
since when has don't pay twice been an issue? earn pay tax, save pay more tax and spend more tax.... i didn't think you would but knowing how tax works/doesn't work nothing would surprise me.
Would you mind clarifying that statement?
Someone paying bills in a house which they live in (albeit on behalf of you) is not an income. You get paid, and therefore pay tax, on income.
If your SO already pays tax on their income, then why would you pay more tax to HMRC to cover payment of bills?
Would you mind clarifying that statement?
everyone pays tax more than once. that is what i mean. I earn money, i pay tax, i pay rent to a landlord who is taxed on that, the rental income is then spent and taxed again. If i spend my money i have to pay duties, VAT etc.
A huge number of transactions are subject to some form of tax, one partner giving money to the other wouldn't surprise me to hear tax is applicable.
Yes, but you pay tax on income via PAYE or self assessment.
Paying bills already include any tax due, so you are covered. Stress ye not 😀
Quit with being upstanding... you're all alone over there 🙂