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Understanding Notional Income

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(@hrabbit)
Estimable Member Registered

@dad1989 Huge, it has doubled my payments!

If you earn 50K and get 50K in shares(that cannot be sold at time of award) then you are assessed as earning 100K if it is all income.

Whereas if the shares are treated as assets then it is 50K plus 8% of 50K for the shares, so total assessment based on £54K

 

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Posted : 01/06/2023 4:14 pm
(@dad1989)
Active Member Registered

@hrabbit This is my worry. Having a diverse folio of longer-term investments combined with daily swing trading could cause an issue. 

 

Do they distinguish between trading and investing?

In your case, was your share money held on a trading platform, or were you paying it back into your personal bank account?

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Topic starter Posted : 02/06/2023 8:21 am
(@hrabbit)
Estimable Member Registered

@dad1989 Probably best if we PM on this one, sure the Forum doesnt really want to read our whinging about these issues. Plus it gives more personal detail than i need to on here 🙂

ReplyQuote
Posted : 02/06/2023 8:33 am
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