Chamon Mother Trucker

Chamon Mother Trucker

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Hi yes hello.

Just a quick one to see if any of you chappies have tickets to see Michael Jackson? Its just the other day he popped in to get some welding done (not on his car i must add!)and he was chatting about life, the kids and his accountant etc. He had recently been reading accounting web (incidently his favourite contributor is Angus!) and was asking questions about paying lump sums to children and if they should get taxed.

Me and MJ go back years, i first met him on the set of his famous Pepsi advert when his barnet caught fire, anyho i was on hand to drive him in his Lincoln to the nearest hospital. He is a very wise man, he once said to me...... Swiss never work with animals or children or the french.

Chow for now...... or as MJ would say hee heee
Swiss Toni

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By thomas34
28th Mar 2009 10:09

Lump Sums To Children
More information needed Swiss Toni. It depends upon whether it's your own children or someone else's.

If it's your own children, withholding tax should be deducted at source at the rate of 100%.

If it's the latter as in MJ's case, no tax is deducted as it is treated as compensation and is tax free in the hands of the recipient.

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