Official budget thread

[WTFH]

A review into the implementation of IR35.
The review will result in a few minor tweaks, such as: all bank accounts whether held by individuals or businesses will be taxed at 25%, unless your company has a turnover of more than £10million.

The increase in the pension limit will be balanced with tax on pensions for anyone not currently drawing one.

Bottled water will be taxed more heavily to make up for the loss of income to water companies resulting from the investment to stop them pumping raw sewage into the rivers.

The BBC will be privatised, and the licence fee will be replaced with a receiver tax - the money going fund the salaries of MPs who work for GBeebies rather than their constituents.

[AtW]

It’s going to suck, as usual

[SueEllen]

WTFH don't make jokes like that.

[WTFH]

WTFH don't make jokes like that.

And there's going to be a special tax on the lube needed for investigations.

[TheDude]

Just wondering if there is anything left that they can screw us lot over with? (I'm sure they will think of something...)

A tax on ski holidays, Audis and bragging about property portfolios.

[PerfectStorm]

Corpo tax to 25% from 19%

And people here were feeling bad about taking £500 furlough

[Bluenose]

Corpo tax to 25% from 19%

And people here were feeling bad about taking £500 furlough

Threshold is from 250k profits upwards though so only NLUK affected here.

[vetran]

And there's going to be a special tax on the lube needed for investigations.

lube - absolute luxury, we had sand & rocks when HMRC looked at my accounts!

[AtW]

Threshold is from 250k profits upwards though so only NLUK affected here.

It (tax rate) goes up non-linearly, much quicker than one would think

[vetran]

abolished tax limit on pensions. I thought doubling would do.