The official Budget 2017 DOOM thread

[jamesbrown]

If that's all he announces, then an extra £225 tax a year is no hardship.

Exactly...very marginal. The Autumn Budget then...

[barrydidit]

If that's all he announces, then an extra £225 tax a year is no hardship.

Indeed. That's only 10% of the usual budgetary bumming.

[Bluenose]

the absolute silence on both sides of the house when this section of the budget was given was telling.

[AtW]

Good luck everyone
E: allowance reduced from £5k to £2k from next year

It's a warmup for autumn proper budget changes - they got no shame in hiking up dividend tax and in same year it happened increase it further.

[jamesbrown]

Indeed. That's only 10% of the usual budgetary bumming.

Quick in-out, no permanent damage

[TheCyclingProgrammer]

So potentially £225/975/1143 extra in tax then..?

Only those whose non-dividend income put them above the higher rate threshold. For most of us, it will just mean an extra £3k taxed at the basic rate.

[d000hg]

Fair Fair Fair Fair Fair Fair Fair

Well of course those on the 'wrong' side complain about such things

If I got this right:

• Nothing happens until 2018?
• Class 2 NICs were already being removed and still will, but class 4 will increase from 9% to 11% over two years.
• Because class 4 is % not flat-rate, those earning £16k or less will be better off, everyone else worse off
• The dividend tax-free allowance is dropping from £5k to £2k (slightly compensated by increase in tax-free earnings allowance)

So two overall thoughts:

1. We can't play the "what about low-earning self-employed/Ltds?" card as they are not going to be affected much.
2. Us contractors will be hit but seemingly not a drastic amount unless there are other changes.

[barrydidit]

Exactly...very marginal. The Autumn Budget then...

tweet from Evan Davies

This seems like a start not the end to this issue of leveling the playing field between different employment forms #Budget2017

[TheCyclingProgrammer]

Quick in-out, no permanent damage

I still expect the basic dividend rate to increase in line with CT reductions at some point.

[eek]

Surely everyone knows by now the devil is in the detail...

Wait for the detail....