- Joined
- May 10, 2014
- Messages
- 596
- Points
- 126
Just wondering...
Whilst asking for payouts via Paypal from surveys it's obvious I would need to declare them under earnings as a self-employed tax payer. However, I'm guessing that if I choose vouchers for goods etc, these amounts are not taxable? In which case it makes sense not to cash out in Paypal unless I'm a non-taxpayer.
Going off topic a bit, I know that if you receive a cash gift it can be as much as the benefactor wishes as it is not you that gets taxed on it, it is they. However, should they die within 7 years of giving you a cash gift, then you can be chased for the tax on it then. I was quite surprised to learn this
Whilst asking for payouts via Paypal from surveys it's obvious I would need to declare them under earnings as a self-employed tax payer. However, I'm guessing that if I choose vouchers for goods etc, these amounts are not taxable? In which case it makes sense not to cash out in Paypal unless I'm a non-taxpayer.
Going off topic a bit, I know that if you receive a cash gift it can be as much as the benefactor wishes as it is not you that gets taxed on it, it is they. However, should they die within 7 years of giving you a cash gift, then you can be chased for the tax on it then. I was quite surprised to learn this