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Tax credit forms

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    #1

    Tax credit forms

    I’m just trying to work out what I should include on our joint tax credit declaration renewal form, do I just include gross earnings from my P60 plus gross dividends as 'other income'? I can't see any mention of dividends but I'm sure they'd want to know!

    07-08 was my first year as a Ltd so last year (umbrella) I just gave them whatever my P60 said.

    I wouldn't normally be bothering with this but my wife had almost all of last year on statutory maternity pay and I had a large chunk of the year on the bench.
    Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson
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    #2
    Just thought.. do I need show divs as gross? Surely they're taxed as personal income? I've never been asked to do a personal tax return and I'm starting to wonder why??
    Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

    Comment

      #3
      Originally posted by gingerjedi View Post
      Just thought.. do I need show divs as gross? Surely they're taxed as personal income? I've never been asked to do a personal tax return and I'm starting to wonder why??
      Its up to you to ask HMRC to send you a personal tax return if you have any income that is not PAYE, or if you are a director (or some other circumstances which probaby don't apply to your situaution). How else would they know?

      Comment

        #4
        Originally posted by Archangel View Post
        How else would they know?
        How would I know that they need to know... other than you telling me now that I needed to let them know. :
        Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

        Comment

          #5
          Originally posted by gingerjedi View Post
          How would I know that they need to know... other than you telling me now that I needed to let them know. :
          How would they know that you need to know that they need to know?

          It's your responsibility like lots of other things that adulthood brings.

          Comment

            #6
            Assume you are talking Tax Credits (aka new labour redistribution of wealth) and not a tax return which Archangel referred to. Dividends are income and you must declare them.

            http://www.hmrc.gov.uk/taxcredits/wo...her-income.htm

            From the link above
            Also enter income from UK company dividends, including dividends from a company of which you and/or your partner are directors. If you received UK company dividends, you should add the tax credit - shown on the dividend voucher supplied by the company - to the dividend.

            Comment

              #7
              Thanks manic, just what I was after.

              I went off on a tangent asking about the personal tax return as well.
              Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

              Comment

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