Will I be taxed on the savings I bring back?

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Oct 15th 2016, 6:41 pm

#16

scot47

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Re: Will I be taxed on the savings I bring back?

Tax on earnings
Not savings.

Oct 15th 2016, 7:18 pm

#17

Pulaski

Joined: Dec 2001

Location: Dixie, ex UK

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Re: Will I be taxed on the savings I bring back?

Quote:

Originally Posted by scot47

Tax on earnings
Not savings.

No, tax on income (so including on investment income).
Not on savings (no tax on capital).

Oct 16th 2016, 1:24 pm

#18

MKG2412

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Re: Will I be taxed on the savings I bring back?

Many thanks all. Much appreciate the clarification. It helped settle my mind.

Oct 21st 2016, 10:14 am

#19

scot47

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Re: Will I be taxed on the savings I bring back?

Pulaski is a rich toff and has oodles of "unearned income". Proles like just have wages to worry about. The distinction between earnings and income for me is metaphysical.

Oct 21st 2016, 1:57 pm

#20

Pulaski

Joined: Dec 2001

Location: Dixie, ex UK

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Re: Will I be taxed on the savings I bring back?

Quote:

Originally Posted by scot47

Pulaski is a rich toff and has oodles of "unearned income". ....

On the other hand he may just be a stereotypical Yorkshireman who is, er, careful with his money. I thought, as a Scotsman, you would have realized that!

Oct 22nd 2016, 9:25 am

#21

scot47

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Re: Will I be taxed on the savings I bring back?

Yorkies are mean. We are just careful !

Oct 22nd 2016, 9:42 am

#22

durham_lad

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Re: Will I be taxed on the savings I bring back?

Quote:

Originally Posted by scot47

Yorkies are mean. We are just careful !

"Short in't arm and deep in't pocket"

When they do census returns here in Yorkshire they save money by simply going to each street in a town, roll a penny down the centre and count the folks as they come out.