tax evasion

[nix-j-c]

after reading the post about 'would i be in order?' i havejust remembered something.

There's a boy at my school who has his own business and claims that he has earnt a couple of thousand pounds since he started it up last autumn.

When i said 'yeah but you have to pay taxes'
he said 'i don't need to.'
he said that it was because it is a private company and he is the sole owner of it but i would think that it is because he is under 16.

He is 15, is this correct that he doesn't have to pay tax?

[nix-j-c]

I just realised that i may have used evasion incorrectly.
Did i use evasion as in going into another country and taking over or are they spelt the same?

Don't send the grammar police after please.

[daffy654]

Going into another country and taking over is INvasion,not Evasion :)

[hc4361]

Everybody has their own personal tax allowance and if the income is higher than that, they pay tax, regardless of age.

Will children be charged tax on their earnings?

Income tax will not be liable unless children's earnings are above the current weekly limit of �87.21.

http://www.bexley.gov.uk/service/education/ews /employment.html

Child actors and models pay income tax, even as babies, if their earnings are hightenough.

[nix-j-c]

aha thankyou.

I'm not an adult and i only have a paperround so i earn about �20 a week. (give or take a bit because i usual have to deliver leaflets aswell which i get extra for)

[nix-j-c]

What should i do because i think he earns differnt amounts each week.

So if he goes over that amount just once will he have to pay tax on all of it?

[nix-j-c]

should i ask him 'whats the most you earn in a week?'

if he replies 'sometimes i can get over �100 i'll tell him that he'll have to pay taxes.'

plus he's been nominated for some young person of the year/ ispriation/ work stuff so if i tell them that he runs a sucessful business but pays no tax and should be fully aware of the laws they won't ammused.


ps. i don't realy like him

[nix-j-c]

i'm not jealous of his earnings because he told me that he does it all through buying old dirty ink cartridges and cleans them then sells them back to the company to be refilled.

But i have a life. I get better grades than him apart from ICT. Plus i have more friends. He spends all his spare time at school looking at his businesses website/ designing other peoples website (which he gets paid for aswell (more moeny he is evading tax on probly))

[barry1010]

If he earns more than �6457 in one year he pays income tax; if he earns less than that he doesn't.
The best thing you can do is not to give him a thought. Concentrate on your studies and your own life.

[nix-j-c]

I'd rather have gordon brown buying a hottub if it meant that this person had to give up some of his money.

the smug snob

[nix-j-c]

ps the boy is smug now a gb would be smug if he a got a hottub with the bys money aswell.

[bednobs]

live and let live. HMRC will be onto him if he earns enough to pay tax, so no need for nosey smug people to poke their noses in.

how wonderful for you you have "more friends" than him!

[nix-j-c]

yeah he sits there on his computer (sometimes has laptop outside) with two sidekicks occasionally visiting him.

[dzug]

So if he goes over that amount just once will he have to pay tax on all of it?

No - the weekly amount is completely irrelevant. It's the TOTAL over a year that matters.

I'd learn and understand a bit about the tax system before sticking your nose in.

[Schutzengel]

I'm surprised you have any friends at all.

[Josh111]

Well, well, well... Aren't you a nasty piece of work?!

[Schutzengel]

Josh. He certainly is, and this isn't the first time in the last couple of weeks.

[mrs_overall]

You are an obnoxious moron.

[bednobs]

i haven't yet worked out if this poster is a wind-up merchant or if i am just old and have no tolerance for young people and their "me me me" attitude any more!

[redcrx]

i think you may be right with wind up, bednobs.

isnt it nix that has the alterego molly?

[mrs_overall]

redcrx, yes, they are one and the same idiotic person.