The official "Autumn Statement 2015" AKA "End of Contracting" thread

[NickFitz]

yeah because of vicious Tory cuts we don't have enough money to spend on services.

UK Government spending – real and as % of GDP | Economics Help

What does the government spend its money on? | Economics Help

From the second article:

[AtW]

So ER is toast

For PSCs most likely it WILL be. Otherwise no obvious change to it just yet.

[AtW]

From the second article:

In real terms wages also gone down ...

[swebb]

FT take on this

http://www.ft.com/cms/s/0/d35c84b2-9...#axzz3sUVskJId

[chopper]

The thing about ER is that it has allowed people to build up a huge cash mountain in their small business, close the business and take that cash into their personal cash mountain very efficiently. This is probably wrong and I have no objection to this particular avenue being closed off. (Instead, keep the business open and take a £5k divi every year).

Aside from the issue of it being abused (i.e. closing down a business to get the cash, and then starting up another one), it isn't very entrepreneurial if you are ending that business. We shouldn't be up in arms about that, it is a perk that has existed but instead we should be thinking of distributing that cash in the more usual way, i.e. divis.

On the other hand, if the business is sold rather than wound up, then ER should continue to exist for that eventuality. A business was started, was built up, and has been sold on.

[vetran]

From the second article:

so £28 billion more in real terms than 2001? Looks like a money pit to me. Maybe we should fix it.

[MrMarkyMark]

The thing about ER is that it has allowed people to build up a huge cash mountain in their small business, close the business and take that cash into their personal cash mountain very efficiently. This is probably wrong and I have no objection to this particular avenue being closed off. (Instead, keep the business open and take a £5k divi every year).

Not much cash in your business, then?

There is no right or wrong, when it comes to tax, they are just a series of laws.

Makes me laugh, there are so many, on here, that believe we should be paying more of it.
I already pay plenty and they can't even provide value for money, for that.

[swebb]

Not much cash in your business, then?

There is no right or wrong, when it comes to tax, they are just a series of laws.

Makes me laugh, there are so many, on here, that believe we should be paying more of it.
I already pay plenty and they can't even provide value for money, for that.

I paid NI twice each year for a number of years, never got any tax back when they stopped that stupid duplication, it's all take take take and not very much give.

[vetran]

Not much cash in your business, then?

There is no right or wrong, when it comes to tax, they are just a series of laws.

Makes me laugh, there are so many, on here, that believe we should be paying more of it.
I already pay plenty and they can't even provide value for money, for that.

Yep Osborne has got the percentage down to 35% from 50% of GDP and apparently everyone is starving.

[AtW]

FT take on this

http://www.ft.com/cms/s/0/d35c84b2-9...#axzz3sUVskJId

"Autumn Statement: Entrepreneurs off the hook over CGT relief"

For now...

This Govt gives zero confidence it won't be changed (rates/thresholds) in next budget or (perhaps more likely now) in 2017 or 18. What's the point in having a supposed "pro-business" Govt which in effect encourages to sell or even shut down business ASAP???