Spring Budget 2023

adidan said:
So Personal Allowance and Basic Rate tax is frozen until 2028 - thanks for the stealth tax :mad:
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Only if you get a payrise ;)

But yea, that's huge and goes under most people's radar as it doesn't sound like a tax rise, which is why they do it.

Imo, it was one of the biggest successes of the Lib Dems in the coalition. They wanted to raise the PA to £10,000 by 2015, it was £6,475 in 2010 when they came in. They actually got it there by 2014, a huge increase in a short period of time after decades of miniscule rises.
 
thenewoc said:
Not sure that is actually the case. Although you could say it would mean less PAYE/NI tax receipts from contractors, they might pay more in corporation tax and less friction would mean better productivity for businesses purchasing those services.

Imagine how inefficient the housing market would be if the seller had to deem whether they were employing the estate agent.
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Come on, they wouldn’t pay more corp tax, and IR35 is absolutely not critical for “less friction” as you can buy consultancy services instead, which is certainly what we do instead. Take a look at it, FOM in the EU was the ultimate “low friction” IT solution, you can’t take that away and then moan about friction.

The only people moaning about IR35 are contractors.

And it’s still not worth it.
 
CapitalOne said:
Come on, they wouldn’t pay more corp tax, and IR35 is absolutely not critical for “less friction” as you can buy consultancy services instead, which is certainly what we do instead. Take a look at it, FOM in the EU was the ultimate “low friction” IT solution, you can’t take that away and then moan about friction.

The only people moaning about IR35 are contractors.

And it’s still not worth it.
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IR35 is bad legislation and should be scrapped or at least vastly simplified to just be time based, no more than say 2 years worth of contract assignment to any one client within any rolling 30 months.
 
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thenewoc said:
IR35 is bad legislation and should be scrapped or least vastly simplified to just be time based, no more than say 2 years worth of contract assignment to any one client within any rolling 30 months.
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Aha, so you’re a contractor…..ah well. Wait until India really ramps up it’s working visa demands for the new trade deal.

I guessed because you said “client”. You’re not a ”Managing Director” or an “Entrepreneur” either.
 
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CapitalOne said:
Aha, so you’re a contractor…..ah well. Wait until India really ramps up it’s working visa demands for the new trade deal.

I guessed because you said “client”. You’re not a ”Managing Director” or an “Entrepreneur” either.
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Adapting to get around the problem with tangible services though rather than just billable time.

What's wrong with 'client' rather than 'customer'?
 
Ahleckz said:
So help for the rich, and the parents who can’t afford childcare. Nowt for the middle earners. Sigh.
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Yeah pretty much nothing for for the middle in this one.
Another reason not to vote tory at next GE

I certainly don't begrudge the help for the bottom though.
 
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thenewoc said:
You are if you're not just being paid for time.
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I don’t want to fall out, but fixing PC’s as well as doing agency work doesn’t count, because you are only doing it to look like a business. I’ll apologise if you’ve got a business plan for expansion and employ staff who aren’t called Mrs New OC.

To be fair though, you might qualify for “Freelancer”.
 
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Absolutely useless budget from a useless chancellor, reduce vacancies by putting up corporation tax. The rest of it was nothing much.
 
413x said:
Yeah pretty much nothing for for the middle in this one.
Another reason not to vote tory at next GE

I certainly don't begrudge the help for the bottom though.
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The priority was those with kids (to aid them back to work/create more childcare creche type jobs), and those in the workforce. Heating bills will help everyone too. It's a shame there wasn't any home insulation help tho tbh.
 
dLockers said:
The priority was those with kids (to aid them back to work/create more childcare creche type jobs), and those in the workforce. Heating bills will help everyone too. It's a shame there wasn't any home insulation help tho tbh.
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You make a good point, are all those that they are trying to get back to work going to go back to work as childminders? Otherwise, there’ll be no one to mind the children from the parents getting the free childcare.
I note there was £600/£1200 free money if you become a childminder. Will have to read into this, more profitable than changing banks every six months!
 
They said on a segment of the news earlier that the funding rate to the nurserys for the free childcare would be going up 30% but I cant find anything to back that up.

Has anyone heard that mentioned?
 
Lol there is no help really at best less expense, you could view it all as a cynical attempt to reduce wages by increasing competition for jobs, which what they really want.
 
dLockers said:
The priority was those with kids (to aid them back to work/create more childcare creche type jobs), and those in the workforce. Heating bills will help everyone too. It's a shame there wasn't any home insulation help tho tbh.
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Yeah the kids thing I get. Even though I'm not and will never be a parent it's needed.

The pension increase is beyond what I'll ever make so no need to think about that.

Heating bills also irrelevant.


One thing for me, not raising the upper tax band means I'm not really interested in promotions at work.
Due to level of seniority anything significantly more gets right into higher tax band. And with all that tax and the responsibility that comes with the role? Not worth it for me.


Home insulation is the big one missing I'd say. Very little uptake of heat pumps going forward as they haven't helped out here. Would help the environment too



Overall, its just more encouragement to vote Labour for me
 
Freakbro said:
They said on a segment of the news earlier that the funding rate to the nurserys for the free childcare would be going up 30% but I cant find anything to back that up.

Has anyone heard that mentioned?
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To answer my own question, seems they are talking about the increased ratio for 2 y/os and equating that to being an incease in the funding rate, rather than a real terms increase in the basic rate
 
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