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Tips earned in the Hospitality trade?How do i save them?

sasta le · 2014-01-21 11:35:45

Whats the best buy to save these? As in can i bank them to my savings or will the taxman not like the idea of what i guess is balck market money?

21-01-2014 11:35am

#1

sasta le

Banned (with Prison Access) Posts: 1,586 ✭✭✭

Join Date: September 2011

Posts: 1440

Whats the best buy to save these?
As in can i bank them to my savings or will the taxman not like the idea of what i guess is balck market money?

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Comments

#2 21-01-2014 12:50pm

Citizenpain

Registered Users, Registered Users 2 Posts: 2,005 ✭✭✭

Join Date: November 2008

Posts: 1953

Assume you've paid tax on them?

http://www.revenue.ie/en/tax/it/leaflets/benefit-in-kind/faqs/miscellaneous.html#misc29

Then you can save them anywhere

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#3 21-01-2014 1:37pm

sasta le

Banned (with Prison Access) Posts: 1,586 ✭✭✭

Join Date: September 2011

Posts: 1440

Never paid tax on tips before they would always have been cash tips

In the past would have spent them now im trying to save more since losing my full time job and currently in a redundancy limbo

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