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Swear fees - where to put on tax return
Posted by Anonymous on Wed, 07/11/2007 - 12:30
Many solicitors receive swear fees. Can anyone advise if these should be declared on the employment pages on the tax return or in the main part of the return under "Any other taxable income".
Also advice needed on what sort of records should be kept to confirm the amount received - the fee is often paid in cash. The amounts concerned are fairly small - only £50-£100 a year. Does HMRC ever ask for records for these?
Teresa
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yes it does have to be declared. It is safest to record the amounts received as and when it happens .How about a diary record? Is fthe solicitor is an employee does the contract allow him or her to keep the swearing fees as their own income?
If there is no self employment or partnership income a good place for it is box 13.3 with an explanation on box23.9
I think they should give the money to charity
It is a good idea to have a swear box and a lot of companies have them. I think it is a filthy habit and I suppose a swear box does encourage people to mind their language.
Surprised
They are going on the Tax Return. Wow! The solicitors I've seen for swearing take cash only (preferably a note), lift out their wallet from their inside jacket pocket, slip the fiver in and don't offer a receipt.
Is the answer the same ...
... as for where doctors put crem fees?
beware
yes andy it happens and they can be small amounts. Don't forget HMRC read Accounting Web
Naughty, naughty
I've seen a few doctors questioned about what some refer to as 'ASH CASH'!!
Yes, Geoffrey
. . . and that's precisely why I mentioned it. If they want to question me I sit next to Clint Westwood and opposite Tiger Woods.