I am in the fortunate position of being a landlord. We have just changed the agents that look after the house. As well as signing a contract with the agents they required a lot of extra details. Information like who supplies the gas and electric, which telephone company is used, what is the number of the gas safety certificate was not a surprise. What was a surprise was the requirement that we supply tax reference and national insurance numbers. When we questioned it, we were told that HMRC demands this information from the agents. We can only presume that this is so that they can confirm independently that what I state on my tax return is correct. If they want to go to that trouble they can do the bloomin' tax return for me. Still, it certainly lends weight to this report.
You don't need to worry though because you are not a landlord. Well, perhaps you do according to this.
Showing posts with label tax. Show all posts
Showing posts with label tax. Show all posts
Wednesday, 22 July 2009
Wednesday, 25 March 2009
Today, 25th March
Today is the day I know as Lady Day. I am reliably informed that this is the traditional name of the Feast of the Annunciation of the Blessed Virgin. Lady Day is one of the four quarter days, the other days being Midsummer Day, June 24th; Michaelmas Day, September 29th and Christmas Day, December 25th. You will note that these days all fall close to either a solstice or an equinox.
Lady Day, coming as it does at the beginning of the farming year, was the traditional day for farm workers to take up new employment. Thomas Hardy reflects this in Tess of the D’Urbevilles. This significance remains to this day. If you had heard the business section of the Today programme at 6.16 am this morning then you would have heard a discussion regarding the issue some businesses have with the fact that three months rent becomes due today. It goes further than that. When we changed the calendar from Gregorian calendar to Julian in 1752, it was necessary to lose 11 days. However, it was decided that the tax year would run to 365 days, thus the end date of March 25th, Lady Day was moved eleven days later to April 5th where it remains to this day.
Finally, Lady Day used to be the first day of the year; dates would be recorded, for example, as 24th March 1657 with the following day being 25th March 1658. I am indebted to Wikipedia for furnishing the reason for this; ‘The logic of using Lady Day as the start of the year is that it reckons years A.D. from the moment of the Annunciation, which is considered to take place at the moment of the conception of Jesus at the Annunciation rather than at the moment of his birth at Christmas.’ This practice stopped and January 1st was taken as the first day of the New Year, in the manner of the Romans, when the Julian calendar was adopted in 1752.
Lady Day, coming as it does at the beginning of the farming year, was the traditional day for farm workers to take up new employment. Thomas Hardy reflects this in Tess of the D’Urbevilles. This significance remains to this day. If you had heard the business section of the Today programme at 6.16 am this morning then you would have heard a discussion regarding the issue some businesses have with the fact that three months rent becomes due today. It goes further than that. When we changed the calendar from Gregorian calendar to Julian in 1752, it was necessary to lose 11 days. However, it was decided that the tax year would run to 365 days, thus the end date of March 25th, Lady Day was moved eleven days later to April 5th where it remains to this day.
Finally, Lady Day used to be the first day of the year; dates would be recorded, for example, as 24th March 1657 with the following day being 25th March 1658. I am indebted to Wikipedia for furnishing the reason for this; ‘The logic of using Lady Day as the start of the year is that it reckons years A.D. from the moment of the Annunciation, which is considered to take place at the moment of the conception of Jesus at the Annunciation rather than at the moment of his birth at Christmas.’ This practice stopped and January 1st was taken as the first day of the New Year, in the manner of the Romans, when the Julian calendar was adopted in 1752.
Friday, 27 February 2009
Contracts
I might have got this wrong but I thought that there was a limit to the size of a pension fund before tax is applied . The Pensions Advisory Service seem to be saying the same thing here. So does this mean that Sir Fred Goodwin has an arrangement that leaves him with £693,000 after the tax has been paid? In which case the situation is worse than it first appears.
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