The Budget 2024 thread

[Scort]

Its so hard for parents. The tax breaks are a step in the right direction.

Had to see a GP today, and she has a kid the same age as ours - so I remarked about how great the 30 free hours are, having seen bills upwards if 900 a month for nursery previously; only to hear that she had regular ones for 1400 a month!

With childcare costs like this, you can see why one parent often gives up work, it's mental.

 

[Stu999]

Ref: procreation a luxury

You guys never seen the comedy, Idiocracy?

It’s a documentary.

 

[ristac]

Not much difference for me, they’re going to get beaten no matter what they did

 

[Quartz]

If you get your money by investment/ wealth and not from income. Then you are laughing,

Actually no. I'm retired so fall into that category and it's pretty much no change.

Had to see a GP today, and she has a kid the same age as ours - so I remarked about how great the 30 free hours are, having seen bills upwards if 900 a month for nursery previously; only to hear that she had regular ones for 1400 a month!

Interesting. I'm told that a big problem up here is that there are too many female GPs working too few hours working part time in part because of childcare - not just costs but because they want to spend time with their children. I have not been able to find data to back that up but I give it credence because the person who told me was in the medical profession. And then there's been the pension cap.

 

[dlockers]

Interesting. I'm told that a big problem up here is that there are too many female GPs working too few hours working part time in part because of childcare - not just costs but because they want to spend time with their children. I have not been able to find data to back that up but I give it credence because the person who told me was in the medical profession. And then there's been the pension cap.

Lol what

 

[drakioned]

Doesn't generally seem anything to exactly set the world on fire.

 

[dowie]

Interesting. I'm told that a big problem up here is that there are too many female GPs working too few hours working part time in part because of childcare - not just costs but because they want to spend time with their children. I have not been able to find data to back that up but I give it credence because the person who told me was in the medical profession. And then there's been the pension cap.

Well, there are two obvious tax issues re: marginal rates that impact people like them and so some obvious incentives to reduce hours or indeed to turn down overtime.

The 60% rate/loss of personal allowance at 100k is right at a sweet spot for GPs considering overtime, commuter clinics etc..(doesn't seem to have been addressed) and the marginal rate thanks to child benefit tapering off is perhaps an incentive to keep part-time work below 50k or now 60k... it's been partly dealt with in the budget but ideally, this and the loss of personal allowance shouldn't exist.

https://twitter.com/x/status/1765662950654661047

 

[arknor]

Can't see this being reversed.

when all the kids were having babies around the late 90s and early 00s they should have let them got on with it.

would be less impact than concentrated uncontrolled immigration, as the births are distributed fairly well around the country and places move forward at a pace they can handle, without unnecessary strain on services.

instead they demonised our society and eroded any culture we had.

Even a chav can have successful kids.

I think my sister worked about 5 years and instead pumped out 7/8 kids(3 different dads), one of them has their own business.

I think only 2 of her kids don't work both female. and their offspring most likely will see their relatives getting on well in life and want the same.

it's not like its a vicious cycle of chavs living on the dole forever, but thats what we were told..

 

[arknor]

Soveriegn Wealth Fund

that should be the crown estate.,..

They get money from leasing the sea bed to offshore windfarms etc..

so we pay more for our basic energy needs purely due to the royals...


It's time they got reduced to 2-3 palaces only and live off the billions they already have...

 

[Irish_Tom]

Crunching the numbers, it looks like payroll reduced my NI by the correct amount, but they have also reduced my tax by that amount again. So unless there's something else at play that accounts for the reduction in tax as well as NI, I'm now underpaying tax…

I got to the bottom of it. I received a bonus in December and paid too much tax in that month, so for the last couple of months, I've been paying less tax to compensate for it. It's just a coincidence that it happened at the same time as the first NI cut.

I don't understand why Payroll struggles so much with one-off bonuses. It's like they assume that's going to be the new monthly amount, so they recalculate the whole year's tax liability based on that figure and overcharge the tax in that month. Surely it's not that difficult to calculate a one-off additional bonus and tax is accordingly?!

Anyway, at least it all makes sense now, and I've got a clear idea of the impact the Autumn Statement and this budget will have on our finances.

 

[Freakbro]

I don't understand why Payroll struggles so much with one-off bonuses. It's like they assume that's going to be the new monthly amount, so they recalculate the whole year's tax liability based on that figure and overcharge the tax in that month. Surely it's not that difficult to calculate a one-off additional bonus and tax is accordingly?!

Working as intended I'm afraid, that is exactly how the cumulative tax system sees it, it can only go on what you have earned to date and tax it at that point not make assumptions about your future pay.

 

[SuperElectric]

I got to the bottom of it. I received a bonus in December and paid too much tax in that month, so for the last couple of months, I've been paying less tax to compensate for it. It's just a coincidence that it happened at the same time as the first NI cut.

I don't understand why Payroll struggles so much with one-off bonuses. It's like they assume that's going to be the new monthly amount, so they recalculate the whole year's tax liability based on that figure and overcharge the tax in that month. Surely it's not that difficult to calculate a one-off additional bonus and tax is accordingly?!

Anyway, at least it all makes sense now, and I've got a clear idea of the impact the Autumn Statement and this budget will have on our finances.

I explain this to my clients every year, the system is the system. Oh, you don't like your take home pay bouncing up and down for no f---ing reason? Complain to HMRC, nothing to do with me

 

[ristac]

I explain this to my clients every year, the system is the system. Oh, you don't like your take home pay bouncing up and down for no f---ing reason? Complain to HMRC, nothing to do with me

Bonus, what’s one of those

 

[a1ex2001]

when all the kids were having babies around the late 90s and early 00s they should have let them got on with it.

would be less impact than concentrated uncontrolled immigration, as the births are distributed fairly well around the country and places move forward at a pace they can handle, without unnecessary strain on services.

instead they demonised our society and eroded any culture we had.

Even a chav can have successful kids.

I think my sister worked about 5 years and instead pumped out 7/8 kids(3 different dads), one of them has their own business.

I think only 2 of her kids don't work both female. and their offspring most likely will see their relatives getting on well in life and want the same.

it's not like its a vicious cycle of chavs living on the dole forever, but thats what we were told..

You may have a valid point in there somewhere but you othered immigrants at which point your post lost any credibility. Britains falling birth rate and crumbling public services are the fault of people much closer to home.