[NWH]

[KS Cleaning]

Don’t know if that’s ^^^^^^^^^^for my benefit?....Like I say, it’s different in Scotland

[NWH]

🤣🤣 yeah well you could have said so we haven’t got jimmy kranky running the show down here have we lol.

[KS Cleaning]

🤣🤣 yeah well you could have said so we haven’t got jimmy kranky running the show down here have we lol.

Errrr I did, look at reply #118... The one that you’ve then tried to correct me on .....only to  end up looking like a fool once again🤣🤣

[NWH]

Just a fool me but you won’t get me cleaning jobs for half what they are worth.

[Jonny 87]

Sorry I was incorrect I was meaning the following year when this may have been forgotten about,if your earnings are down by what you’ve claimed then nothing would change if you’ve been able to earn the same and have taken for example 7-8000 it could bump you up to 40% tax from 20% up to 50000.  Depends what you earn you could end up in the 40% tax bracket.

You do know how the higher tax brackets work right?

Do you think that if you get put into a higher tax bracket that all your income is then taxed at 40%?

[Don Kee]

Sorry I was incorrect I was meaning the following year when this may have been forgotten about,if your earnings are down by what you’ve claimed then nothing would change if you’ve been able to earn the same and have taken for example 7-8000 it could bump you up to 40% tax from 20% up to 50000.  Depends what you earn you could end up in the 40% tax bracket.

You do know how the higher tax brackets work right?

Do you think that if you get put into a higher tax bracket that all your income is then taxed at 40%?

I think NWH thinks that once you hit higher tax, all your earnings are taxed at 40%.

Seems like someone doesn’t earn what they say they do, otherwise he’d know how it works.

I’m out, I’ve fallen into the trap of arguing with an idiot who thinks he knows what he’s talking about.

[Lee GLS]

I may be wrong but NWH is saying that we obviuauly pay tax on the whole grant, but if we have earnt the same as previous years and claimed, we will have a lot higher tax bill in Jan and July 2022 as we start paying the instalments on the following years tax bill.

So if we take 29% out of the grant to set aside for tax that’s great, but we have potentially increased the profit by £13000 with the grant, so we will then have to pay and extra £3770 in tax over the two 2022 payments so that we are in credit for the next tax year. That will of course get deducted when we come to pay the 2022/23 tax bill and we will get it back, BUT you still have to pay it in the first place.

So bear in mind that the Jan 2022 and July 2022 could be a lot higher if you have carried on earning the same amount and claimed for both grants.

[Smudger]

And there we have it - all that bluster from Nigel about earning good money and giving an employee 20% of the days taking at £150+ yet does not have a clue about upper tax limits 😂😂😂😂😂

You couldn't make it 😂😂😂😂

Unlike him 🤪🤪🤪

His posts have brought me so much laughter over the last ew months 👍👍

Darran

[zesty]

That’s correct lee.

That’s why I put mine first grant straight into a savings account and won’t spend it at all.

Once I know my turnover near the end of the tax year, I’ll know what’s left after tax to ‘spend’.

I did buy a load of new equipment to help bring my tax bill down though.

Also we need to remember, both grants were/will be paid in the same tax year, so it is going to cause a spike in turnover if you claim both and weren’t that effected.

Be better in some ways if the first grant was paid before April the 5th.

Anything over £50k is taxed at 40%, so the key is bring your turnover down. Monitor your turnover by month 9 of the tax year, and either cut back on work you don’t want to do (one offs, etc) to bring the turnover down. Or buy some new, expensive, but legitimate equipment to bring your profit down.

I do this most years. Check my turnover, then buy a new pole, brushes, maybe a new pressure washer, to bring my profit down.

[zesty]

And there we have it - all that bluster from Nigel about earning good money and giving an employee 20% of the days taking at £150+ yet does not have a clue about upper tax limits 😂😂😂😂😂

You couldn't make it 😂😂😂😂

Unlike him 🤪🤪🤪

His posts have brought me so much laughter over the last ew months 👍👍

Darran

Oh don’t worry darran.

He’ll bring out the triple ladder and find a way out of this hole.

You just wait 

[G Griffin]

If you earn crap money claim both the grants if you don’t you either can’t claim it or it won’t be worth the paperwork.

Have you considered that someone could have time off work for weeks or months because they, or a family member, are ill or at risk?

[NWH]

If they have then it should mirror their income therefore they won’t be getting a higher tax bill than usual will they.

[G Griffin]

If they have then it should mirror their income therefore they won’t be getting a higher tax bill than usual will they.

No.

[NWH]

If they have then it should mirror their income therefore they won’t be getting a higher tax bill than usual will they.

No.

Right ok so you’ve sat on your arse for whatever reason for 3 months and claimed the grant if it’s less than you would have done when working you’ll pay less Tax,if you’ve been working and still taken the grant and been earning what you would normally it may tip you over.
Read above there’s one bloke that knows what I mean 🤣🤣 I think people are just thinking about claiming and not the repercussions of it if they are close to a different Tax bracket in 18 months 2 yers time.

[NWH]

Bully me please bully me I love a bully I’ve silenced many of em 🤣🤣🤣🤣

[Smudger]

If they have then it should mirror their income therefore they won’t be getting a higher tax bill than usual will they.

No.

Right ok so you’ve sat on your arse for whatever reason for 3 months and claimed the grant if it’s less than you would have done when working you’ll pay less Tax,if you’ve been working and still taken the grant and been earning what you would normally it may tip you over.
Read above there’s one bloke that knows what I mean 🤣🤣 I think people are just thinking about claiming and not the repercussions of it if they are close to a different Tax bracket in 18 months 2 yers time.

trip you over ? please explain and give an example please - actual figures more us lesser mortals

Darran

[AuRavelling79]

Bully me please bully me I love a bully I’ve silenced many of em 🤣🤣🤣🤣

Please don't assume that when other members are highlighting flaws in your posts then that is bullying.

It is important to be accurate when discussing the SEISS grants and I believe that most on here realise that the grants are to be treated as gross income which is why some that are claiming and are able to do so are putting it to one side for future tax bills.

Even if a self employed person has an unforeseen rise in turnover and the grant takes him/her into a higher tax bracket then he/she will only pay the higher band on the proportion of earnings above that bracket start point.

To ameliorate that situation someone might think that the end of this tax year is a good time to buy needed equipment or a van rather than pay (eg) 40% on a portion of their income. Others might feel they would put it into a pension. Yet others will take the tax hit but they won't be worse off than if they had not received it.

[NWH]

Some people you can’t explain things they just stare at you dribbling chin on chest to one side on a swivel chair.,shouting through spittle 20% 20% I want my 20% 🤣🤣

[NWH]

Look at it which way you like you know what’s best for you 👍