Tree work with no cash / cheque payment

[David Riding]

could not think of a good title, anyway in the last few months I have done several jobs where I have received returned favours rather than hard cash:

 

1) 18" water colour painting of scenery or photo of my choice on canvas for a 20% reduction of silver birch.

2) yard space for machinery & firewood storage for 2 -3 years for massive woodland clearance.

3) log burner installation for sycamore removal.

4) 3 days mini digger hire for removing a small beech

5) work on my website for strimming and spraying around a small unit

 

you guys got any of your own??

[Ian Leach]

Done a days work for a few joints of beef and a couple legs of lamb.

[Rupe]

All those things are taxable!! (maybe apart from the wifes bush)

 

Don't keep any evidence of such agreements. 500 quid job for 500 quid favour in return is income of 500 quid!

 

I knwo its harsh and your unlikely to get done but just as long as you know.....

[tommer9]

All those things are taxable!! (maybe apart from the wifes bush)

 

Don't keep any evidence of such agreements. 500 quid job for 500 quid favour in return is income of 500 quid!

 

I knwo its harsh and your unlikely to get done but just as long as you know.....

 

Are you sure mate- as i am pretty certain that unless you actually receive monetary reward then tax is inapplicable. I only say that as we used to rent a house off an economics (or something) lecturer and my wife worked for her husband. The rent was taken as payment and the accountant did not count it as taxablt income? I could well be mistaken, or it could be particular to rent aswell mind.

[skyhuck]

Are you sure mate- as i am pretty certain that unless you actually receive monetary reward then tax is inapplicable. I only say that as we used to rent a house off an economics (or something) lecturer and my wife worked for her husband. The rent was taken as payment and the accountant did not count it as taxablt income? I could well be mistaken, or it could be particular to rent aswell mind.

 

Barter IS taxable.

[Mesterh]

Are you sure mate- as i am pretty certain that unless you actually receive monetary reward then tax is inapplicable. I only say that as we used to rent a house off an economics (or something) lecturer and my wife worked for her husband. The rent was taken as payment and the accountant did not count it as taxablt income? I could well be mistaken, or it could be particular to rent aswell mind.

 

If it wasnt taxable then how many people do you think would be given a nice car/house/boat etc for there income

[David Riding]

All those things are taxable!! (maybe apart from the wifes bush)

 

Don't keep any evidence of such agreements. 500 quid job for 500 quid favour in return is income of 500 quid!

 

I knwo its harsh and your unlikely to get done but just as long as you know.....

 

It is all taxable no doubt. I have been investigated before from a previous business so would not risk anything again. I have completely covered myself on this matter from a tax point of view and talked to my accountant about it, otherwise I would not be posting this info on a public forum.

[Stephen Blair]

i was shown a menu when i signed on 14 years ago of what things are worth and they would be deducted from my giro if i accepted them as payment. i was told this because i told them i was staying with farmer friends who would feed me and put a roof over my head for work. i claimed 8 quid one week because i did a garden and they knocked 16quid off my giro, the next time i claimed 16quid and they knocked off 32 quid. so i just chucked the whole thing and survived with out it:001_smile:

[tommer9]

i was shown a menu when i signed on 14 years ago of what things are worth and they would be deducted from my giro if i accepted them as payment. i was told this because i told them i was staying with farmer friends who would feed me and put a roof over my head for work. i claimed 8 quid one week because i did a garden and they knocked 16quid off my giro, the next time i claimed 16quid and they knocked off 32 quid. so i just chucked the whole thing and survived with out it:001_smile:

 

Dole.....aaaaarrrrrgggghhhhhh. A long time ago i am glad to say....I hated it.

[Mark Bolam]

Are sexual favours taxable then?