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The Official Budget 2021 thread

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    Originally posted by Fraidycat View Post

    Corbyn would have set corp tax at 26% before the pandemic and have already spent that money before the pandemic hit.

    After the pandemic, i.e. now, he would have jacked up corp tax to 32% or higher.

    G7 average rate is 32.5%. So he could of easily got away with it.
    And he would have made everyone pay memberships to the PLO and the IRA and stolen everyone's children to sell to the Russkis.

    You're right mate, we all dodged a bullet by having Boris and Rishi looking after the small businesses of the precious Union.

    When freedom comes along, don't PISH in the water supply.....

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      I thought it was the best budget ever.
      I design idiot proof software. Trouble is, they keep making better idiots.

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        Originally posted by _V_ View Post
        I thought it was the best budget ever.
        That's how people will feel in autumn...

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          Just noticed that this is officially the official thread - it was featured in the CUK News Flash newsletter about the budget!

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            Originally posted by Fraidycat View Post
            G7 average rate is 32.5%. So he could of easily got away with it.
            It's very easy to compare headline rates but much tougher to get a good handle on what they actually mean for the bottom line. e.g. what deductions are allowed at what rates, do you get franking credits/double taxation mitigation when taking dividends etc. If anyone knows of a good resource to compare the bottom line for small business owners around the world, I'd love to see it.

            There's also another point, which is that in many other countries (EU/Scandi) you get an awful lot more for your tax than you do in the UK. e.g. free university fees, an actual functioning welfare system (80% last wages unemployment, proper pensions), well funded health service and education. We seem to have ended up with the highest tax burden since the 70s, and very little to show for it.

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              Originally posted by ladymuck View Post
              Just noticed that this is officially the official thread - it was featured in the CUK News Flash newsletter about the budget!

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                Comparison of corp rates should be done with divi rates - Germany got 25% flat rate, UK’s top rate - 38%, with Uk going up to 25% Germany will be hands down lower corp/divi tax place.

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                  Originally posted by AtW View Post
                  Comparison of corp rates should be done with divi rates - Germany got 25% flat rate, UK’s top rate - 38%, with Uk going up to 25% Germany will be hands down lower corp/divi tax place.
                  That was my point really. One headline rate of taxation doesn't really give you the whole picture. Other countries have even lower div rates, or retain some sort of imputation - although not many, it seems. Funny how they used to think that corp tax + personal tax was double taxation, but have quietly dropped that idea.

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                    It’s double taxation for sure, but worst of all it hammers honest locals where as offshore corp entities can extract money without paying divi tax (not in all countries - in Germany for example it’s 15% divi tax if money taken offshore, 25% local - very very fair and sensible).

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                      Originally posted by mattster View Post

                      That was my point really. One headline rate of taxation doesn't really give you the whole picture. Other countries have even lower div rates, or retain some sort of imputation - although not many, it seems. Funny how they used to think that corp tax + personal tax was double taxation, but have quietly dropped that idea.
                      Divi rate only matters really to company directors or major shareholders. It may be a double tax to contractors, but not to corporations we want to attract.
                      Originally posted by MaryPoppins
                      I'd still not breastfeed a nazi
                      Originally posted by vetran
                      Urine is quite nourishing

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