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Storrsy

Storrsy

Well-known member
It's all well and good holding onto old money earning kit but eventually all this money it earns ends up in the wrong hands (taxed as profit). Last year I was clobbered badly because I simply hadn't bought enough. It's a bit of a chicken and egg situation in reverse. Kind of!
 
S

Stroppymonkey

Well-known member
It's all well and good holding onto old money earning kit but eventually all this money it earns ends up in the wrong hands (taxed as profit). Last year I was clobbered badly because I simply hadn't bought enough. It's a bit of a chicken and egg situation in reverse. Kind of!
I have learnt that sometimes you need to lay a bit of tax to try and get ahead slightly. I was always brought up with the belief that paying no income based tax was the goal, but not always the case .
Although I do rather HATE Januarys when the Taxman has at me.
Unless you have VERY low outgoings or an alternative undeclared income you can’t do well unless you’re declaring and paying a certain amount of ££
 
JD450A

JD450A

Feral as Fk 🐾
Unless you have VERY low outgoings or an alternative undeclared income you can’t do well unless you’re declaring and paying a certain amount of ££
Yes and it is only going to get worse. It's part of the reason I run low outgoing, high gear. Along with the very blunt reality that buying a home in my local area that isn't a terraced house on a scummy street full of desolate boring alcoholics, drug addicts and dross isn't viable.... Well it's viable if your willing to trade honour for income, rip every **** off and go bust a few times, but that's not for me.

It's also part of the reason I'm currently more than happy expiring pre-retirement I've no wish to wittle out my dying days burning time in dullatude because the money isn't there to do what I want.
 
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