Official Summer 2015 Budget Thread

[jamesbrown]

There is an upper limit - i.e. that point at which we're all better off on PAYE.

Exactly. It's just that the upper limit is pretty fugly, after factoring in both sets of NICs

[Underbase]

As we can get 1000 in interest tax free. Can we lend our company at a commercial small business rate enough money to make it pay that out? It would reduce CT tax as a cost and put that in the owners pocket.

[Zero Liability]

It's a very good budget.

Apart from the bit that will hit me personally.

What parts, specifically, are "very good"?

[jamesbrown]

What parts, specifically, are "very good"?

The bit about planes flying over the skies of West London (i.e. I'm watching you, Boris) was quite good.

[AtW]

What parts, specifically, are "very good"?

Reduction of crazy welfare state.

Reducing taxpayer subsidy to BTL folks.

Living wage (which will help reduce crazy taxpayer subsidy to firms using low paid labour).

It's all good on this list - http://www.bbc.co.uk/news/uk-politics-33440315

All apart from divi change which makes no sense, if they did it only on PSC then it would be understandable, however blanket removal of tax credit which made a lot of sense is BS, he's done it to get one off boost of tax revenues in current FY.

[TheLordDave]

Well that's the last time I vote Tory and I won't vote labour or ukip. So I'm gonna have a spare vote next time round if anyone wants it...

[Zero Liability]

Reduction of crazy welfare state.

Reducing taxpayer subsidy to BTL folks.

Agreed.

Living wage (which will help reduce crazy taxpayer subsidy to firms using low paid labour).

I really don't see how this one is going to do anything, especially for people whose productivity doesn't warrant a wage equivalent to this new "living wage". I think they're making the changes to apprenticeships in tandem with this increase for that reason, i.e. to soak up individuals who might otherwise be made unemployed, where there is overlap between these groups. If you buy the arguments about immigration causing wage compression and poor productivity levels in this country, those would seem to be more sensible points to focus upon. Whether apprenticeships will do that remains to be seen, because if they're compensating for a bad education system they'll have an awful lot of "lifting" to do.

All apart from divi change which makes no sense, if they did it only on PSC then it would be understandable

I don't think PSCs are the main target of the move, given how broad a move this is and how small a subset of the total population of companies they are. It just will make it much easier for them to do what they've so far failed to do and that is no doubt a happy bonus to them.

[tractor]

..

As we can get 1000 in interest tax free. Can we lend our company at a commercial small business rate enough money to make it pay that out? It would reduce CT tax as a cost and put that in the owners pocket.

It was a multitude of idiot scams like this that put us on their radar in the first place.

[electronicfur]

he's done it to get one off boost of tax revenues in current FY.

He's done it because it will deliver £2.5bn in yearly tax revenues, as the OBR document shows...

[d000hg]

b) may not be true for you, but it is for me. I am a small business.

Good for you, but so what? You're an edge case of an edge case, outside anybody's priorities.