Official Summer 2015 Budget Thread

[DimPrawn]

Crackdown on aggressive tax avoidance - 100% chance

You think the Tories are going after their party donors?

[TheFaQQer]

What can be done that has not already been done?

I should have been clearer - that's just what is going to be announced

[jamesbrown]

Progress towards merging income tax and NI?
End of BTL interest relief?
Increase in CGT rates?
Surcharge on dividends for higher/additional rate tax payers?
Seeds of an FLC?
Dicking around with ER?

Aside from the well-telegraphed acceleration in the rate at which the personal allowance and higher rate threshold are increased, this could be a very bad budget for contractors/close companies.

[DimPrawn]

If the Tories wish to help the true economy, rather then the imaginary booming BTL economy, they should:

Increase the tax free allowance - this benefits EVERYONE who is working or on a pension.
Freeze benefits (stop linking them to RPI/CPI) and cap them further - Linked with the above this means there is more incentive to get a job.
Get rid of employers NI - This is a tax on hiring staff. Lets actually make it cheaper to hire workers in the UK.
Stop counting BTL mortgages as increased business lending, it is not. Banks should only be lending to real businesses, not property Ponzi schemes.



Just doing these four things would boost the real UK economy no end.

[MicrosoftBob]

Looking at the images on the beeb, does anyone else think Osbourne is turning into Mr Spock?

He looks like a butch lesbian to me

[BrilloPad]

If the Tories wish to help the true economy, rather then the imaginary booming BTL economy, they should:

Increase the tax free allowance - this benefits EVERYONE who is working or on a pension.
Freeze benefits (stop linking them to RPI/CPI) and cap them further - Linked with the above this means there is more incentive to get a job.
Get rid of employers NI - This is a tax on hiring staff. Lets actually make it cheaper to hire workers in the UK.
Stop counting BTL mortgages as increased business lending, it is not. Banks should only be lending to real businesses, not property Ponzi schemes.



Just doing these four things would boost the real UK economy no end.

Don't be so stupid!

BTL "investors" need more support. A lot more support. They are the engine of the British economy.

I would suggest you can deduct mortgage interest from your tax bill, and the deposit can be borrowed interest free using a govt "help to get rich scheme". They can fund this using some NHS money that normally get wasted treating poor people or even worse immigrants.

Works for me

That's more like it!

[DimPrawn]

I see this is on his list:

Inheritance tax allowance to rise to £1million for family homes, paid for by a tax raid on the pensions of the rich.

Once agains proving my point, that money in a pension is a sitting duck, whilst money in bricks and mortar is safe as houses.

Me 'ouse is me pension, 'innit?

[PurpleGorilla]

I see this is on his list:



Once agains proving my point, that money in a pension is a sitting duck, whilst money in bricks and mortar is safe as houses.

Me 'ouse is me pension, 'innit?

DP;

No way will any UK gov pop the bubble - HPI / BTL is seen as the golden goose.

Even though it fvcks the young.

Quadruple lock benefits for pensioners (some of the wealthiest in the country) toss!

[OwlHoot]

DP;
No way will any UK gov pop the bubble - HPI / BTL is seen as the golden goose.

Even though it fvcks the young.

Quadruple lock benefits for pensioners (some of the wealthiest in the country) toss!

WHS

The year 1914 in America seemed the crest of a wave of passionate idealism among young people, and of passionate selfishness among middle-aged people.

– John Cowper Powys (1872 – 1963)

Nothing changes

[TheFaQQer]

And there's the first hit to small business