UK Budget 2009

[expat]

OK:
Duty on tobacco and alcohol up naturally, cars too.
Rise in NICs. Employers up for sure.
Much regulation of pensions. Tinkering with the public's tax-free options, esp SIPPs.
Big attempt to eliminate tax avoidance.
One big item of some kind to persuade us that they have great ideas.
Previously mentioned items for after the election (45% tax and VAT up) will be maintained for later.

[pmeswani]

Tax rise to 45% for those earning more than £50k (PAYE and other sources of income).

Those with offshore savings / income will be required to declare it and pay tax on it at 10 to 15%.

ISA allownace will rise to £9k by 2012.

Benefits will go up by about 1.8%.

Stamp duty on property and shares will be reviewed. The stamp duty on shares will likely go up to combat short selling.

Contractors will be shafted.

No evidence to support any of the above... just pure speculation.

[chef]

the daily mash says it all:

http://www.thedailymash.co.uk/politics/politics-headlines/brown-hails-'budget-from-the-future'-200904081688/

"Roads? Where we're going, we don't need roads."

[Gonzo]

Here are some people that think the recovery will take some time yet:

UK 'will not recover until 2012' (SFW)

[Ruprect]

I think they'll make radical changes to try and win votes - that's all they've got left now, and they surely know it.

They'll want to win at both ends - business and the little man on the street.

I wouldn't be suprised if they reduce Corp tax or at the very least introduce a "spread your payments over 2 or 5 years" scheme.

They'll probably also reduce tax for the lowest paid, and possibly introduce new payments for those who've lost their jobs during the recession.

The "middle class" worker and higher bracket worker will get stuffed though - tax hikes on those who can afford it basically. They're going to loose those votes to the Tories anyway, so what do they care?

lose

also:

Keep up at the back eh?

[realityhack]

Probably one or two chav sweeteners for votes, a handful of stealth taxes, but not enough to rock the boat, and some PC penalties for smoking, drinking and being a lardarse.

And, as has been said, a 'big idea', to attempt to show credibility, as always.

[SallyAnne]

lose

also:

Keep up at the back eh?

At least I took part - which is the main thing

They can raise VAT all they like if they keep the flat rate the same - that would be sweeEEEeet!

[Jog On]

Budget predictions for contractors

Just read a Times article on budget predictions for this year which mentioned various revenue generating methods such as cracking down on non doms and tax havens, NICs and VAT up (merely speculation from 'experts').

What do our resident experts predict those eyebrows have in store for the likes of us?

[swamp]

Abolish IR35.
Reduction in small business corporation tax.
Scrap stamp duty.
Reduction in VED for high emission vehicles.
Lower duty on alcohol.
Kick S660 into the long grass.



You heard it here first.

[BrilloPad]

I predict a tax on dogs. And people who walk on the cracks in the pavement.