Horrors of their first budget.
Bank clerk pretending to be Chancellor says this budget raises taxes by 40 Billion!
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Always forgive your enemies; nothing annoys them so much. -
Gov gives themselves direct access to bank accounts to catch benefit fraudsters.
Modernizing HMRC systems and recruit more staff.
Clamp down on umbrella companiesComment
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“I can confirm that we will accept the Low Pay Commission recommendation to increase the National Living Wage by 6.7% to £12.21 an hour, worth up to £1,400 a year for a full-time worker.
“And for the first time, we will move towards a single adult rate, phased in over time, by initially increasing the National Minimum Wage for 18-20 year olds by 16.3% as recommended by the Low Pay Commission, taking it to £10 an hour."
This is going to hurt small businesses who are struggling to break even.
That's a £2,500 pay increase for 18-20 year olds!Last edited by escapeUK; 30 October 2024, 13:03.Comment
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Covid corruption commissioner - FFS, covid is ancient history now, get over it!Last edited by willendure; 30 October 2024, 13:18.Comment
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No increase to employee NI, income tax, or VAT. Claims working people will not see a change in their pay slips from this budget.
But employer's NI increased by 1.2%, to 15% from April 2025, and secondary threshold reduced to £9,100 to £5,000!!!! OUCH OUCH OUCH!
This is a big one for us who are outside.Comment
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Never payed NI in my life, so could not give a toss.Originally posted by escapeUK View PostComment
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Employment allowance to increase. unsure this applies to us. Will need to research.
"Today, we will increase the lower rate of Capital Gains Tax from 10% to 18%, and the Higher Rate from 20% to 24%"Comment
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No. Employment allowance does not apply to limited companies with only one employee (or director), or where employees are directors.Comment
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