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Thread: Why is life like that????????
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9th March 2009 #1
Why is life like that????????
I had recently tried to convince Pia that we need to move into a 'family home'; one where we can plan to stay for many years while we raise our family.
We found an incredible house that we love but unfortunately (or fortunately for me), with the current econmic climate being what it is, the risks associated with its purchase are too great. So we decided not too. Plus, Pia is happy where we are anyway; just me being over zealous as usual.
Anyway, we then considered an alternative. We could add space downstairs bu having a conservatory built. These are much much cheaper than I'd previously thought. Well, I made some calls today and had no sooner set up some appointments when the post arrived.
There it was, the ominous brown envelope from the tax office. They have now recalculated my tax for last year based on the fact that my employer apparently taxed me at the basic rate and not the 40% they should have. The result? I nearly fainted. Let's just say that if I sold our car to pay it, I would still owe plenty.
I wish I'd known but of course like most I, never examined my pay slips closely enough.
Still Pia and the baby are fine and I feel great about that!Who needs a conservatory anyway?
Be responsible with little so that you can be trusted with much!!
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9th March 2009 #2
Yes the dreaded tax man, quite a shocker for me paying 40% after living in HK at 16% and no VAT.
as Monty python said
look on the bright side
Living in a small space has it's advantages
less furniture to buy
lower heating bills
harder to lose things (I can never find anything in our Palawan home)
You argue less because you have to live on top of each other( hmmm Maybe thats where babies come from)
you have to be organised ... no room for clutter
Number one advantage is
you get to be closer to your beautiful mahal (in your case the bump has made that the case anyway hehehe)
Live your life for a reason and don't worry be happy
if you don't know where you are going then any road will do!!
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9th March 2009 #3
Very true my friend! Part of life.
Be responsible with little so that you can be trusted with much!!
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9th March 2009 #4
Just phone the tax office, you don't have to pay it in one, they can sort it so you pay it off over time with a new tax code.
Keith Driscoll - Administrator
Managing Director, Win2Win Limited
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9th March 2009 #5
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What's tax?
Al.Pressed rat and warthog closed down their shop!
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9th March 2009 #6Be responsible with little so that you can be trusted with much!!
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9th March 2009 #7
Hey Mate,
sorry to hear that.
Work out the tax yourself as the tax man may get it wrong again.
http://www.hmrc.gov.uk/rates/it.htm
Also, put your savings in Pia's account to lower tax on that. Has she got NI? if so, get ISA for her.
As for rental income, you might want to consider that as part of your wife's income as she has £6k allowance per year. So get the rental income to go straight to her account, she then uses it for regular food, shoes shopping etc. This is only good if the rental income offset against buy to let interest is much higher because she cannot really offset that.
Best Wishes
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9th March 2009 #8
Great ideas dude! Cheers.
Be responsible with little so that you can be trusted with much!!
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9th March 2009 #9
You don't have much luck Toks, hope the taxman come back with a lower amount and you will be able to pay it off gradually.
The home you have is very nice, has good amenities in the locality, and park area close by, its great and the children will delight, I am sure, in kicking you out of the top floor when they are older and having that as their rooms, wow 2 floors between parents watching TV and kids....... being kids........ you will be happy there my friend, take it easy keep smiling, think about your blessings :-)JOHN and VANESSA
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9th March 2009 #10
I hear you budddy! To be honest I know I'm really fortunate in so many ways. It's just me fantasising about the pack of dogs I want to have running around the house alongside the kids
We are definitely now gonna be staying for at least a few years. Decision made! You'll have to continue sharing your bedroom with my gym and the baby clothes though!
Be responsible with little so that you can be trusted with much!!
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16th March 2009 #11
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16th March 2009 #12
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16th March 2009 #13
I definitely don't earn too much.
I wish i did. I have had it confirmed that the amount was correct less about £3k. So I have to pay it. I've reached an interim repayment agreement with the IR. It will be reviewed in 3 months.
You must be in Scandinavia? If so you probably earn more than the UK equivalent.Be responsible with little so that you can be trusted with much!!
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16th March 2009 #14
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16th March 2009 #15
We're waiting for you buddy! Sewage pipe?
Be responsible with little so that you can be trusted with much!!
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16th March 2009 #16
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