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Official Contractor UK Budget Thread 2017

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    #61
    Aim to raise £4.8billion
    "You’re just a bad memory who doesn’t know when to go away" JR

    Comment


      #62
      VAT threshold retained.

      Comment


        #63
        Indexation tax froze.
        "You’re just a bad memory who doesn’t know when to go away" JR

        Comment


          #64
          VAT threshold coming up now
          "You’re just a bad memory who doesn’t know when to go away" JR

          Comment


            #65
            Originally posted by jamesbrown View Post
            VAT threshold retained.
            Yep

            Consultation on it though. Decrease in 2 years.
            "You’re just a bad memory who doesn’t know when to go away" JR

            Comment


              #66
              Talking about private sector jobs
              "You’re just a bad memory who doesn’t know when to go away" JR

              Comment


                #67
                Business rates relief. CPI brought forward. Staircase tax relief.

                Comment


                  #68
                  Business rates being fiddle with
                  "You’re just a bad memory who doesn’t know when to go away" JR

                  Comment


                    #69
                    Originally posted by TheCyclingProgrammer View Post
                    Increase to personal allowance *and* higher rate threshold? Unexpected.

                    With one hand giveth though...
                    Back of napkin calculation...with £8060 salary and dividends up to higher rate tax threshold:

                    2017/18:
                    £8060 salary tax free
                    £8,440 dividends tax free (remainder of PA plus £5k 0 rate band)
                    £28,500 @ 7.5% = £2,137.50 tax
                    Net takehome: £42,862.50

                    2018/19:
                    £8060 salary tax free
                    £5740 dividends tax free (remainder of PA plus £2k 0 rate band)
                    £32,550 @ 7.5% = £2441.50 tax
                    Net takehome: £44,358.50

                    Final tax efficient salary for 18/19 TBC though.

                    Net take home up due to the increase in the higher rate threshold, but an extra £300 tax overall.

                    Comment


                      #70
                      Originally posted by jamesbrown View Post
                      VAT threshold retained.
                      Dull. More clobber for everyone else?

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