ped
Member of DD Central
Posts: 255 
Likes: 84
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Post by ped on Aug 10, 2016 18:03:49 GMT
HMRC 0300 200 3300. NI number will be required. But agree under £1 forget about it.
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dan83
Posts: 243
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Post by dan83 on Aug 10, 2016 20:36:54 GMT
No joke 89p after fee's in funding circle.
I started there in Feb with £100.
Although I opened my saving stream account earlier in the year, I didn't start really until people started to sell food loan parts on the SM around the brexit vote.
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Post by GSV3MIaC on Aug 11, 2016 9:14:20 GMT
No joke 89p after fee's in funding circle. I started there in Feb with £100. Although I opened my saving stream account earlier in the year, I didn't start really until people started to sell food loan parts on the SM around the brexit vote. Gosh, are we lending against cans of beans now?? 8?.
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dan83
Posts: 243
Likes: 84
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Post by dan83 on Aug 11, 2016 11:02:54 GMT
Well spotted, should of been good loan parts.
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Post by GSV3MIaC on Aug 11, 2016 14:14:59 GMT
Well spotted, should of been good loan parts. I think we probably knew that, but it was too good a typo to let slip. 8>.
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Post by Deleted on Aug 11, 2016 15:29:55 GMT
Three things come to mind
1) Can you still make voluntary additional contributions to a free standing SIPP (not a company one) your own?
2) You can give to charity, no really, a great way to keep away from creeping up the tax table
3) you could invest in an EIS via someone like Syndicate Room (income tax deductable and capital gains free if rules followed)
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james
Posts: 2,205
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Post by james on Aug 13, 2016 19:02:11 GMT
I made 89p last year using P2P. ... I'll have to make a call and tell them, what info will they ask for? If it was foreign you'd need to tell HMRC that you are required to file a tax return and they will sign you up for self-assessment. If it was domestic it's likely that the rounding down to the nearest ten Pounds practice will make it irrelevant. In that case mention it as an aside if you contact them about something else.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Sept 20, 2016 18:00:57 GMT
What do you big guys do regarding tax on interest? I will be smashing my £1000 personal saving allowance with interest earned from bank accounts, I don't really want to have to pay tax on interest earned here, I don't want to break any laws either. Is there any loop holes I can use? I'm just a regular guy, in the 20% tax bracket, I'm employed (not self employed) and I don't want to over pay my company pension. My partner will also use up her £1000 PSA, so putting it in her name is also a no-no. I've read, I have to declare the interest when it is earned. Does the interest count as earned when it is paid or when if is taken out of the account and paid into an account I can with draw money from? Sorry if this isn't allowed on the forum. Thanks in advance for any advice or tips, I'll read all (if any) replies but it's some times difficult to reply. Simple answer... Get an accountant! You will have to declare the interest you have earned, whether or not you actually take it of your account. Unfortunately, you'll probably have to take this one on the chin, but next year we will have the IFISA available to us which will shield us from tax  I believe this should read "You will have to declare the interest you have been paid." Tax earnt between 1st and 5th April is creditted to you on 1st May, so is always declared in the next tax year...... I could of course be wrong, but that's what I do.......please don't report me to Inland Revenue if I am wrong nb also.....if I am wrong....... then using SS's "tax statement" will give you the same answer as my statement ie will not include interest for the last 5 days of the tax year. Also if you use the Tax Statement to calculate interest, you should be careful. Although there is a nice auto select calender........... It only gives 12 answers ie the payments made on the 1st of each month (it will add payments up if the dates you select cover more than one "pay day")
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