This has only occurred since the Saving Interest rates have substantially increased, when they were 1% or less you would need excess of £100000 non ISA accounts, there has been a recent period where interest rates have ranged from 2% to 6%, but they are now falling. There could be case where the Government should look at excessive Profits of Financial Institutions.
All BS - every UK bank informs HMRC of interest earned and, in fact, when I fill in my yearly tax return, declaring the actual interest earned is, by HMRC's own directive, "optional", not because it is optional to pay tax on interest earned but because the banks specifically inform HMRC of the interest earned.
This video I feel creates more questions than answers. I receive salary only under PAYE arrangements and, correct me if I'm wrong, but I believe in this situation there is no obligation for me to also, ‘declare’ this income to HMRC as my employer has already done so and the appropriate tax has been deducted. Is this then not the same with interest received from, ‘reporting’ financial institutions? Even if it is not, there can hardly be an accusation of attempting to avoid tax if the interest payer (bank, building society etc.) has already openly reported it on behalf of their customer. The next question posed is if, and this is only if, the interest receiver has an obligation to also declare/report, then when and how should this be done: when it’s received; at the end of the tax year: or at some other time?
I really appreciate your efforts! A bit off-topic, but I wanted to ask: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
1. You're not breaking the tax laws unless you try to evade repayment, or falsify information. 2. If you don't know the personal savings allowance then go online. It's free. Don't spend hundreds on a professional financial adviser which is ridiculous. 3. For £10,000 and 5%, you get £500 which is the allowance for a higher rate taxpayer. But if you have this in a bank account, why? There are so many better options to not pay tax 4. The video states the ISA allowance as £200 or something but it's £20000. Can the maker check when they use a bot to create the narrative => pure laziness?
This has only occurred since the Saving Interest rates have substantially increased, when they were 1% or less you would need excess of £100000 non ISA accounts, there has been a recent period where interest rates have ranged from 2% to 6%, but they are now falling. There could be case where the Government should look at excessive Profits of Financial Institutions.
Get it out of the bank every body should shut bank accounts remove the money and the government will go into meltdown. They won’t where its gone
Hadn’t you heard? They are turning us into a cashless society now. Soon you won’t be able to spend the money you have hidden under your mattress!
3.45 the man with the binoculars has a hand coming out of his face!! Ha Ha Ha
This video viral by hmrc to threatening people.
All BS - every UK bank informs HMRC of interest earned and, in fact, when I fill in my yearly tax return, declaring the actual interest earned is, by HMRC's own directive, "optional", not because it is optional to pay tax on interest earned but because the banks specifically inform HMRC of the interest earned.
Well put, its already being done so why more scaremongering🎉
Be careful...the last time people did a run on banks - Northern Rock - Cypriot Bank, they locked the doors!
Ten thousand won't cover you for a new roof .
This video I feel creates more questions than answers.
I receive salary only under PAYE arrangements and, correct me if I'm wrong, but I believe in this situation there is no obligation for me to also, ‘declare’ this income to HMRC as my employer has already done so and the appropriate tax has been deducted.
Is this then not the same with interest received from, ‘reporting’ financial institutions? Even if it is not, there can hardly be an accusation of attempting to avoid tax if the interest payer (bank, building society etc.) has already openly reported it on behalf of their customer. The next question posed is if, and this is only if, the interest receiver has an obligation to also declare/report, then when and how should this be done: when it’s received; at the end of the tax year: or at some other time?
I really appreciate your efforts! A bit off-topic, but I wanted to ask: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
It’s not Haitch M R C. There is no H at the start of the pronunciation of the letter H. It’s AITCH.
1. You're not breaking the tax laws unless you try to evade repayment, or falsify information.
2. If you don't know the personal savings allowance then go online. It's free. Don't spend hundreds on a professional financial adviser which is ridiculous.
3. For £10,000 and 5%, you get £500 which is the allowance for a higher rate taxpayer. But if you have this in a bank account, why? There are so many better options to not pay tax
4. The video states the ISA allowance as £200 or something but it's £20000. Can the maker check when they use a bot to create the narrative => pure laziness?
Not only a hand coming out of his face, pics all AI generated with three and five fingered hands and the voice cant even say Twenty Thousand
Yet more AI generated crap