Probate fees

[vetran]

I'm imagining Scooter having to pay it.

especially after paying NLYUK's commission

[barrydidit]

imagine paying that little Tax!

I'm imagining Scooter having to pay it.

[vetran]

No but I do

imagine paying that little Tax!

[AtW]

No really you don't.

No but I do

[scooterscot]

I wish...

No really you don't.

[AtW]

Imagine having €115k tax bill would yah?

I wish...

[scooterscot]

No. I pay tax for this year forecasted earnings based on last year's income, even if I have not yet earned it.

You can write a letter to the tax office and moan and they may request different pre-payments from you. However my income fluctuates. In my opinion it's better to be repaid with interest from the state rather than be requested additional tax bill you were not expecting.

The 3rd year in Germany was the worst. Re-calculation for the first year. 2nd year large tax bill since no forecast was available. Pre-payments for the current third year. Imagine having €115k tax bill would yah?

[vetran]

That is the cash accounting system. You pay tax based on the previous year's income not the present.

so you are paying last years taxes? Or is 'on account' can you not adjust it if its significantly different like the UK?

[scooterscot]

they don't do cash accounting? how silly.

I assume you are a contractor.

That is the cash accounting system. You pay tax based on the previous year's income not the present.

[vetran]

I have to my taxes each quarter here in Germany before I've earned the money from my clients. Go figure!

Perhaps explains why so many Germans have savings.

they don't do cash accounting? how silly.

I assume you are a contractor.

[scooterscot]

seems ridiculous to me, you have to pay it before you have any money from the estate so many will have to borrow to fund it.

I have to my taxes each quarter here in Germany before I've earned the money from my clients. Go figure!

Perhaps explains why so many Germans have savings.

[vetran]

seems ridiculous to me, you have to pay it before you have any money from the estate so many will have to borrow to fund it.

[BrilloPad]

Probate fees: Planned increase scrapped ahead of election - BBC News

I still don't understand why they are not 100%....