National insurance cut

413x said:
Thought it was only 1mln if the house was passed down?
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Yeah, so in my case for example my nan died and basically left everything to me as last direct family...
Her allowance is 325k
plus my pre-deceaced grandads allowance is carried over to her as he left everything to her when he died.

So now it's effective 650k tax free

Then as she passed her property to me so residence nil rate band (RNRB). £175,000

Plus another 175k unused RNRB passed from my grandad to my Nan...

So £1million tax free for me... If it was one million and one hundred pounds, I'd (or rather the estate) would have to pay 40% of that £100 over the threashold, so that would result in a £40 tax bill.
 
Jack_green said:
You have to start somewhere, it does not matter about the amount saved eventually with all the littles saves adds up to be a huge saving. I think I read it was a a billion or two.

No just imagine that billion or two being saved along with interest, now add the money added by getting them to have insurance before they come to the country. You have now gone from a deficit to a possible surplus. No think if this is expanded to other areas now add it all together and it becomes a huge saving.

Rather than look at each individual as a whole. Look as each individual as a part that makes up a whole.
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Yeah but why don't we focus on education and healthy living...as in people eating rubbish and doing no exercise I'm sure cost the NHS more....
 
mattyfez said:
Yeah, so in my case for example my nan died and basically left everything to me as last direct family...
Her allowance is 325k
plus my pre-deceaced grandads allowance is carried over to her as he left everything to her when he died.

So now it's effective 650k tax free

Then as she passed her property to me so residence nil rate band (RNRB). £175,000

Plus another 175k unused RNRB passed from my grandad to my Nan...

So £1million tax free for me... If it was one million and one hundred pounds, I'd (or rather the estate) would have to pay 40% of that £100 over the threashold, so that would result in a £40 tax bill.
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Yeah that's what I thought it was too.

I'm guessing most can't make use of the full 1mln due to having to split up the home
 
413x said:
Yeah that's what I thought it was too.

I'm guessing most can't make use of the full 1mln due to having to split up the home
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Correct, that's why it's always worth taking advice when making a will rather than just doing a £20 DIY boiler plate will...

EDIT, for example, it might be more tax-efficient to leave a house in its entirety to one child, and leave a second child a proportianatley larger sum of other assets, like savings etc,
 
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danielanthony said:
Remember, you can make voluntary contributions to HMRC if you're complaining about this tax cut.
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Dont even need to go that far, just spend it in the economy. Spending the extra cash means it does what its meant to be doing, stimulate growth and eventually the money all finds its way back to the government anyway. For example what you spend is someone else's income, and spending on products/services also attracts VAT.

Just spend the extra £40-60 quid and job done.
 
Bobmunkhouse said:
Do we actually have any stats showing what percentage of NHS budget goes non citizens.....seems a lot of finger pointing but not sure what the actual impact is....

Also locking people up for longer in horrible place's is done in USA and does not work....
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Not sure what the percentage is and don't have time to work it out, but IIRC unrecovered NHS spending on treating foreign patients is £1.8 billion out of a budget of £150 billion a year.
 
Murphy said:
Not sure what the percentage is and don't have time to work it out, but IIRC unrecovered NHS spending on treating foreign patients is £1.8 billion out of a budget of £150 billion a year.
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So about 1.2% for arguments sake... I'd hazzard there are bigger fish to fry when it comes to making the NHS more cost effective! :D
 
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I have always liked the the washing machine story. £400 quid in curries then by the time it went through the approval it ended up costing £1500..... Some purchasing power needs to be put back at lower levels. Just that the UK has this stupid culture of if we don't use it this year we wont get as much next year malarky.
 
mattyfez said:
So about 1.2% for arguments sake... I'd hazzard there are bigger fish to fry when it comes to making the NHS more cost effective! :D
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To be fair, 1.8bn could pay for a lot of medical staff.

Finding efficiencies needs to be approached from multiple angles though rather than focusing on one thing.
 
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Murphy said:
Not sure what the percentage is and don't have time to work it out, but IIRC unrecovered NHS spending on treating foreign patients is £1.8 billion out of a budget of £150 billion a year.
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We have to get travel insurance when we go abroad don't we, so it's no different. Cases have highlighted this when someone goes abroad without taking out insurance and end up stuck there because they haven't paid the bill
 
SPG said:
I have always liked the the washing machine story. £400 quid in curries then by the time it went through the approval it ended up costing £1500..... Some purchasing power needs to be put back at lower levels. Just that the UK has this stupid culture of if we don't use it this year we wont get as much next year malarky.
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In my town they local council are on a roll fixing potholes and cleaning drains, I wonder if it could be the end of the tax year that's getting them moving?
 
tonys said:
In my town they local council are on a roll fixing potholes and cleaning drains, I wonder if it could be the end of the tax year that's getting them moving?
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Roadworks everywhere round here. I get the budget thing but why not spend it all year round? They come and slap some tarmac in the holes, which will be busted again by this time next year
 
Narj said:
To be fair, 1.8bn could pay for a lot of medical staff.

Finding efficiencies needs to be approached from multiple angles though rather than focusing on one thing.
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Indeed, especially when NHS staff are quitting and then re-hired on agency rates, just as one example.
Another example would be the public mis-use of emergency services, GP's etc, etc.

It's a multi-headed hydra of wasted resources or poorly utilised resourses, the problem is the NHS is such a huge and complex organisition and often disjointed in it's activities, there's no easy solution.
 
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Narj said:
To be fair, 1.8bn could pay for a lot of medical staff.

Finding efficiencies needs to be approached from multiple angles though rather than focusing on one thing.
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Sure could, but the £4.7 billion tax gap.
fullfact.org

It’s not true that ‘lost’ tax revenue is 360 times greater than benefit fraud - Full Fact

An annotation suggesting that a graph shows tax evasion, avoidance and non-collection costs the government 360 times more than benefit fraud is incorrect.
fullfact.org fullfact.org

And £125 billion that some people consider to be scandalous spending by the Sunak government could pay for a whole lot more.
www.bestforbritain.org

Scandalous spending tracker

It's easy to become numb to the scale and frequency of the government's fiscal ineptitude and dodginess and so we will highlight the cumulative impact this is having at a time when there are so many other things they should be spending on.
www.bestforbritain.org www.bestforbritain.org
mattyfez said:
So about 1.2% for arguments sake... I'd hazzard there are bigger fish to fry when it comes to making the NHS more cost effective!
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It would be even less than that as the £1.8bn figure is what's classed as 'normal' use by foreign visitors, so basically pick what number best suits the point. (deliberate health tourism for example is estimated to be in the £110-180 million range, £500 million would be taken off that £1.8bn in recovery (health insurance)).
 
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Murphy said:
Sure could, but the £4.7 billion tax gap.
(snip)
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“Fiscal ineptitude” - sums up this lot nicely! Is it really ineptitude when the dodgy dealings with their mates are clearly deliberate though?

I’d say they know exactly what they’re doing.
 
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tonys said:
We have to get travel insurance when we go abroad don't we, so it's no different. Cases have highlighted this when someone goes abroad without taking out insurance and end up stuck there because they haven't paid the bill
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If you have a Global Health Insurance Card, you can get emergency and maternity care in many countries without travel insurance. This is a reciprocal arrangement with have with many European – and a few other – nations.

And immigrants to this country already have to pay £1,000+ per year (paid in advance) to access the NHS. That’s on top of the regular tax they pay.
 
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