Budget 2018

BUDFORCE said:
All this hate for IR35, I think it's a great thing.

Apologies in here to anyone that didn't/ doesn't, but from what I've seen the vast majority of contractors putting their income through ltd companies are tax dodging.

They are also some of the higher income earners.

That is why the government introduced it.
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As a contractor myself, if they want me to pay more tax I will pay more tax, that's fine. What I dislike about it is they are playing both sides. If they want to treat us as employees then fine, we should get employee rights but when previously contested in court against HMRC, not getting employee rights (which is against the law) didn't mitigate you as not being an employee.

The general hate for IR35 is due to it being a very poorly written piece legislation.
 
If labour don't get in next time I'll be amazed now.
Should just raise income taxes by 1% across the board. Lefties are gonna have a field day on this.
 
My extremely Liberal left gf says she cant vote Labour. They are too close to the tories, lack direction and are indecisive on brexit.

I agree with her. They are unelectable.
There is no party I want to vote for at the moment

10 pound a month for basic, lots more for higher tax band. Seems a strange one.

Feel like this is worst state British politics has been in since I've been able to vote

Would have rathered a tax break for the really poor and no change for anyone else with cash put into the environment
 
Not really read up on the whole budget but given the calculator above our family is roughly £1000 better off for the year. Where are they actually raising the money to end austerity? Where is the money to fund Brexit? Why are they giving tax cuts to people that are not really likely to need it? Given the approaching dire economy predictions this seems quite irresponsible.....
 
SPG said:
Tax break at the top line.... Stealth tax`s on the bottom line.
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1.7 million are no longer paying any tax at all. How are they meant to give further tax breaks than paying zero tax?

The 40% band has not followed inflation and this is them correcting it. It's only giving a larger hard number tax reduction for higher tax payers because they pay 40% of their income in tax. The top 10% of the population has increased in their income tax contribution from 55% in 2008 to 60% in 2016 (source). The ongoing direction is the top 10% continue to pay more and more of the overall income tax burden.

In fact, when you look at public spending and tax credits vs tax paid, the only people actually contributing is the top 3 decile.
 
chroniclard said:
Not really read up on the whole budget but given the calculator above our family is roughly £1000 better off for the year. Where are they actually raising the money to end austerity? Where is the money to fund Brexit? Why are they giving tax cuts to people that are not really likely to need it? Given the approaching dire economy predictions this seems quite irresponsible.....
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They have been able to collect more tax than they expected, hence they have some short term room they are dishing out. Long term they decided to cut back on aiming for zero additional borrowing in favour of more day to day spending.
 
It wasn't meant that way. Spend it on people on low incomes, or the Police or teaching or something useful.

Unless they are trying to artificially inflate consumer spending by giving people more money to waste.
 
Bear said:
As a contractor myself, if they want me to pay more tax I will pay more tax, that's fine. What I dislike about it is they are playing both sides. If they want to treat us as employees then fine, we should get employee rights but when previously contested in court against HMRC, not getting employee rights (which is against the law) didn't mitigate you as not being an employee.

The general hate for IR35 is due to it being a very poorly written piece legislation.
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If you work away I believe you;ll have to cover those costs yourself after tax too too(most expenses no longer deductible) so is not just a case of paying more tax.
 
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VincentHanna said:
Why do people earning 50K+ need another £800 in their pocket? I know I don't.
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Yeah I dont get it either. Seems like a great time not to do that and put that cash into something that can actually help the world

Used to vote tory. Haven't done so since geneal eelection before last. Wont be going back
 
I'd rather my wife (who earns 19K working full time in adult social care) get paid what she's worth, than me getting a bit more money for instance.

Yeah it goes in to the same pool, but she doesn't feel valued at all and she does an important job helping vulnerable people.
 
As I thought - being a pensioner on my income I get nowt in extra tax relief. -- did I really expect anything - Not really.
 
VincentHanna said:
I'd rather my wife (who earns 19K working full time in adult social care) get paid what she's worth, than me getting a bit more money for instance.

Yeah it goes in to the same pool, but she doesn't feel valued at all and she does an important job helping vulnerable people.
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She's worth what she's willing to accept for a salary, and I'd imagine because you're on so much money she doesn't feel the need to push herself more. If you don't feel valued then you either improve your skill set or move on, or do both.
 
Ayahuasca said:
She's worth what she's willing to accept for a salary, and I'd imagine because you're on so much money she doesn't feel the need to push herself more. If you don't feel valued then you either improve your skill set or move on, or do both.
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So all adult social care workers should strike then? Allowing many old folks to die?

Not sure that's viable, would solve the pension crisis though.
 
StriderX said:
So all adult social care workers should strike then? Allowing many old folks to die?

Not sure that's viable, would solve the pension crisis though.
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That's some weird conclusion you've jumped to from what I've posted. It's not just social workers who feel undervalued, most folk do on low salaries but do nothing to change it over the course of their career.

I'm not for a second saying the tax relief changes they've made are right, just that people who feel like they're undervalued year in, year out need to take a look in the mirror.
 
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