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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
Casual Employment Advice Welcome? |
Seasonal Employment & Tips? Doe anyone know the meaning of tips in the sense of how they're paid; i.e. with wages, void of wages, daily/ monthly, not at all (myth) or up to the employer, and how to know what is and what isn't 'tip's exempt from tax'? Surely, what about the taxman, will he be after me tips, input welcome? Thank you kindly for any suggestions in advance. Tips are part of your wages, so they are to be reported as such. Your employer should be keeping track of tips paid, especially if you're in the restaurant industry. Tips received from employer and customers are to be reported to employer by the 10th of the month after the month tips are received. No report is required if you received tips of $20 or less. Since they are wages, tips are subject to Fed, Social security, medicare, and State tax, if applicable for the state. Since you're in the UK, regulations will be different from the U.S. |
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