To think we cannot accept rent via DC's bank account!?

[coucoululu]

DH and I have a flat that we would like to rent out. We understand rent will be a second income and so will get taxed as such.

DH is saying if we were to open a bank account for our 10 month old, it would be his income and will only get taxed after £12,500.

I highly doubt this is ok. I have had a Google and am sure it's not allowed.

The money ultimately would be for DC and maintenance of the property but even so.

Advice greatly appreciated. X

Good idea or not, the end goal is to withhold tax that you should rightfully be paying - which is scummy. Tell him Oxford qualified or not he is no better than a benefits cheat scrounger.

When DC grows up, and you're aghast at the shocking state of our education due to funding cuts - remember this moment, and it will all make sense.

Gross.

In a number of ways which, subject to my professional fees being paid, I'd be happy to discuss.

thats understandable, but the bottom line with obviously paying fees for professional advice. its achievable, and there you have it fellow mumsnetters,

It's achievable by LEGAL means sure!

But certainly not in the way OP's dh is proposing.
That is not Avoidance (legal) but Evasion (illegal).

HMRC employs thousands of people to investigate whether methods of tax mitigation are legal or not. You may think big companies are all cheating the system but you would quite simply be wrong. They are no more dishonest than the General Public.

So your "and there you have it" is not the Mike drop that you appear to think it is. 🙄

Tell him Oxford qualified or not he is no better than a benefits cheat scrounger.

No, he's far far worse than most fraudulent benefits claimants because he doesn't have poverty as a justification.

No one has said it wasn’t possible. They have said what the OP’s husband is proposing is illegal and that’s it’s unethical to avoid taxes.

I struggle to believe you are a lawyer honestly.

is your DH happy to avoid using things that taxes pay for, like schools and healthcare and law enforcement? Or just happy to avoid paying for them?

it doesn’t matter whether you get caught or not it’s just CF behaviour.

I struggle to believe you are a lawyer honestly.

Christ I missed that gem 😂No!

How did you take that post to be evidence that tax on rental property can be avoided. It looked like somebody making a joke to me. It was certainly not a “there you have it mumsnetters” moment.

Dinner ladies with 1 GCSE - that guy needs to catch himself on. And the OP should phone the college that her DH claims to have attended to verify that he’s been nowhere near the University but perhaps was educated once in Oxford as a child by visiting the museum of natural history (excellent trilobites - worth it just for the wall at the back on the left-hand side).

I think people are giving the OPs DH a hard time unnecessarily.

Remember even the former chancellor of the exchequer struggled to understand tax law. And he was responsible for paying dinner ladies.

The OP isn't being given a hard time, her dopey husband is.

@SerendipityJane - I don’t. His reactions alone make it clear he is not a nice person. He sounds like an arrogant misogynist.

I don't. It's the hallmark of a decent man a) to admit when he's wrong, b) not to give his wife grief when he's wrong, c) not to have a row with his wife when she's right and he's wrong, and d) not to issue misogynist slurs against women who are telling him that he's wrong.

He has failed, 0/10, on all points.

This has nothing to do with him being wrong and everything to do with how he handled being wrong.

true, fair points.

SerendipityJane was making a joke.

She doesn't really think OPs DH a hard time unnecessarily..

It was a joke about Nadhim Zahawi, the former Chancellor who had to pay penalties when he didn't pay Capital Gains Tax.

I'm finding your posts funny @SerendipityJane 😁

As someone whose degree would count as stem I will never forget this lol.

Gutted to have missed out on the flower arranging classes because I didn't notice them on the timetable.

Appreciate your point and I do agree to a point- but nor do the most fraudulent benefits claimants, I've known people with more disposable income than me. It's an uncomfortable truth.

hands up all, if you all could pay little to know tax, how many honestly would still pay the taxes ?

Me First, i understand why taxes are necessary, but i follow Jamie dimon philosophy from JP morgan and chase and say we need a balanced tax system rather than just tax the rich every time.

Hands up if you could kill someone and get away with it, who would?

Extreme example but solid comparison, crime is crime.

And if we all paid little to no tax what do you think the world outside would look like?

Also, tax the rich every time? do me a favour.

We need a land value tax. Taxing earnings is a shitty way to tax, especially when taxing the people with the lowest earnings. Land is "yours" because someone in the past stole it from the commons, probably aided by lots of men with swords, and it's been sold on ever since. It's fair to tax that which was originally stolen. By contrast, your wages should yours, you worked for them.

Think it's illegal.

its puzzling, automatically looking to not pay tax's is not illegal, hench why your comparison ?

i was discussing : tax avoidance—An action taken to lessen tax liability and maximize after-tax income.

Not: tax evasion—The failure to pay or a deliberate underpayment of taxes.

As for the outside world, chances are it would be corporate cities, and corporate projects rather than govt cities etc

To help you learn some knowledge:

tax avoidance —An action taken to lessen tax liability and maximize after-tax income. : Legal

tax evasion—The failure to pay or a deliberate underpayment of taxes. : Illegal

Fair points on that