Walter Mitty ?

[sleeping giant]

I have a neighbour who i have suspected for a while as being a Walter Mitty character.
It started off talking about going to New York and the Seychelles etc which never happened.
Anyway , he has been spouting for 6 months that he is buying a house with a swimming pool in January this year and was just waiting on his "bonds" maturing before buying it outright.

I always suspected he was talking ****** , i have a nose for it :greengrin
Seen him yesterday and asked him if he got the keys like he had told me the week before.
"No" he said. "They paid my bond money into my account and the taxman took 98k leaving me short for the house":rolleyes:

I don't know that much about bonds so i googled it and i think i'm right in thinking that you pay tax on the INTEREST only and declare it yourself.

Does anyone know how large a chunk of bonds you would need to pay 98k tax on the interest earned ?

[lapsedhibee]

I have a neighbour who i have suspected for a while as being a Walter Mitty character.
It started off talking about going to New York and the Seychelles etc which never happened.
Anyway , he has been spouting for 6 months that he is buying a house with a swimming pool in January this year and was just waiting on his "bonds" maturing before buying it outright.

I always suspected he was talking ****** , i have a nose for it :greengrin
Seen him yesterday and asked him if he got the keys like he had told me the week before.
"No" he said. "They paid my bond money into my account and the taxman took 98k leaving me short for the house":rolleyes:

I don't know that much about bonds so i googled it and i think i'm right in thinking that you pay tax on the INTEREST only and declare it yourself.

Does anyone know how large a chunk of bonds you would need to pay 98k tax on the interest earned ?

He's clearly a top person all round and therefore a top earner, so he'll be paying 40% on his income (when it comes to his annual assessment anyway, though not generally when his bonds mature).

98k tax whack assuming a 40% rate would be levied on an income of £245k. To get an interest income of £245k at, say, 6%, would mean his capital was, say, £4m.

But to fit with his story about the taxman taking £98k at this time of year (which would likely be a 20% rate), his capital would need to be nearer £8m.

Only you can tell whether he's more of a £4m or an £8m sort of a guy, but clearly he can afford a swimming pool, so it looks as if he is indeed, as Tony Blair might say of himself, a 'pretty straight sort of guy'. :wink:

[sleeping giant]

He's clearly a top person all round and therefore a top earner, so he'll be paying 40% on his income (when it comes to his annual assessment anyway, though not generally when his bonds mature).

98k tax whack assuming a 40% rate would be levied on an income of £245k. To get an interest income of £245k at, say, 6%, would mean his capital was, say, £4m.

But to fit with his story about the taxman taking £98k at this time of year (which would likely be a 20% rate), his capital would need to be nearer £8m.

Only you can tell whether he's more of a £4m or an £8m sort of a guy, but clearly he can afford a swimming pool, so it looks as if he is indeed, as Tony Blair might say of himself, a 'pretty straight sort of guy'. :wink:


Cheers for that:greengrin Just as i suspected.
Why do people lie like that ? Does it make them feel better than the person they are lying to ?

Strange indeed

[Peevemor]

Cheers for that:greengrin Just as i suspected.
Why do people lie like that ? Does it make them feel better than the person they are lying to ?

Strange indeed

I had a mate who lied all the time - even about the most trivial of things, though he freely admitted it. He simply believed that "the truth's boring".

It was hilarious at times but could also be very annoying.

[Danderhall Hibs]

There's loads of folk around like this - if you've been on a helicopter, they've been on a space shuttle; if you've been to teneriefe they've been to eleveneriefe.

I usually try and make them trip up over their own lies. If you manage to tangle one of them up in knots it can be a great laugh.

[Scouse Hibee]

There's loads of folk around like this - if you've been on a helicopter, they've been on a space shuttle; if you've been to teneriefe they've been to eleveneriefe.

I usually try and make them trip up over their own lies. If you manage to tangle one of them up in knots it can be a great laugh.

:agree: The best one is when you make something up to trip them up!