2007-11-10 03:42:22 · 7 answers · asked by wildwood081 2 in Business & Finance ➔ Careers & Employment ➔ Food Service
legally you should declare them as earnings and pay tax on them ...
2007-11-10 03:46:50 · answer #1 · answered by Splishy 7 · 0⤊ 0⤋
In the UK, you should declare it. If you don't, and the Taxman does a check on your employer's records,and picks up there are tips (certain industries are targeted), he may estimate it. You would then have to prove that you didn't get that much. Try proving you don't get such a high figure!
2007-11-10 09:13:12 · answer #2 · answered by steffi 7 · 0⤊ 0⤋
If you bring in more than $20 in tips in one month you legally have to claim them as income on your taxes and pay the necessary taxes.
I just got done going over this in tax accounting, so it's all fresh in my head lol..
2007-11-10 03:56:08 · answer #3 · answered by Sherry D 2 · 0⤊ 0⤋
This is taken into account when you are taxed,you have to try and prove you dont receive those levels in tips if you are graded too high.
2007-11-10 03:47:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Tips are taxable income. You are legally required to declare ALL of your tips.
2007-11-10 03:48:02 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
Take them because the Revenue will assume that you do and will make a notional assessment (guess!) anyway.
2007-11-10 03:52:06 · answer #6 · answered by Tony h 7 · 0⤊ 0⤋
assume 10% of your salery as tips...............as far as tax goes...............if it is on the bill.cr card........you have to give that part up .
2007-11-10 04:00:16 · answer #7 · answered by richard t 7 · 0⤊ 0⤋