Official Summer 2015 Budget Thread

[WordIsBond]

I'd be much happier if they just treated tax as their revenue source to cover spending for the government's basic functions, rather than these conceited attempts at socially engineering outcomes, or worse yet, bread and circuses.

Totally agree. It's been going on a while, but Gordon Brown was perhaps the worst I'd ever seen. It was as if he'd spend all year deciding which evils he was going to correct, or which group was disfavoured this year, and then a week or two before budget come up with some half-baked tax or credit or something to create utopia. And everyone since just followed his pattern.

[eek]

I've kept out of this thread as I've been out and about.

All I will say is that the devil is in the detail and I recommend waiting until we see that detail. Remember that at first glance ir35 didn't look that bad

[WordIsBond]

decent conservative government

Well, they are conservative and they are government. Meatloaf said 2 out of 3 ain't bad, so you shouldn't have been expecting decent.

Speaking of Meatloaf, they want us and they need us, but it's clear, there ain't no way they are going to love us.

[Zero Liability]

I've kept out of this thread as I've been out and about.

All I will say is that the devil is in the detail and I recommend waiting until we see that detail. Remember that at first glance ir35 didn't look that bad

Does that mean the worst has yet to come?

[TheLordDave]

Well, they are conservative and they are government. Meatloaf said 2 out of 3 ain't bad, so you shouldn't have been expecting decent.

Speaking of Meatloaf, they want us and they need us, but it's clear, there ain't no way they are going to love us.

Apparently they want us 'lying In the bottom of a ditch in the blazing sun'

[pmasoft]

Thanks, but I think this is what I was referring to:





EDIT: I've paid myself divs up to the higher rate threshold already this year 2015-16. Since the new rates come in in April 2016 then AFAICT I'd be better off taking more this year and paying 22.5% personally than taking it in a later year and paying more. Unless I leave it in MyCo until such time as I'm benched.

In the paragraph you are using a 10% dividend credit to get 32.5 down to 22.5, but there will no longer be this credit. Therefore LTD still pays CT at going rate and you pay full 32.5%

[d000hg]

That's addressed to people with jobs.

[AtW]

I really thought an entirely conservative budget would support our way of working. I have been harping on about thatcher for years and waiting for a decent conservative government to come in.

An entirely conservative budget would support conservative party's way of working

HTH

[SpontaneousOrder]

I don't know why you thought the Tories were the party for contractors. We're a highly paid niche and politics is about the masses.

There is fundamentally no reason why contractors should be able to pay less tax per £ earned than permies, this is a perk of the system not an entitlement.

If you voted for who you thought would enable you to best line your pocket, serves you right.

best line your pocket.... or less likely to steal from you?

your distinction seems arbitrary at best.

[SpontaneousOrder]

It means that he can cut tax credits and those people still be paid, probably about the same or maybe even less in total, but in any case burden will be shifted from taxpayers to companies who had cheap taxpayer subsidized labour for way too long.

You're missing all of the people who become unemployed because of this minimum wage rise, and all of those that may have come to be employed that no longer will.