Budget Thread

[MrRobin]

Flat rate for IT contractors up to 14.5% from 13%. So someone billing £100K + VAT will pay make an additional profit per annum of £375, before taking account of any additional input VAT they might pay.

PUMA

That's great!

What's your source, please?

[portseven]

2.167. The March 2010 Budget announced action to tackle arrangements
using trusts and other vehicles to reward employees which seek to avoid, defer
or reduce liabilities of employees and directors to income tax and NICs or to
avoid restrictions on pensions tax relief. Legislation will take effect from April
2011. The Government confirms that Employer Financed Retirement Benefit
Schemes (EFRBS) are within the scope of this measure. (March 2010 Budget)

[swamp]

Flat rate for IT contractors up to 14.5% from 13%. So someone billing £100K + VAT will pay make an additional profit per annum of £375, before taking account of any additional input VAT they might pay.

PUMA

I'm calling bulls**t on that, until it's announced.

[lilelvis2000]

I think the budget was fair enough under the circumstances. The reduction in CT is a plus point. The increase in VAT could mean the FRS works in our favour, but I haven't crunched the numbers.

Unless you're not VAT registered, then it directly affects you. Looks like I'll be buying a lot of hardware before January.
And when VAT goes up..don't expect it come back down. Unless you happen to live in Canada.

So the big question is....is it time to pack bags and get out?

[THEPUMA]

I'm calling bulls**t on that, until it's announced.

That's great!

What's your source, please?

http://www.hmrc.gov.uk/budget2010/bn45.pdf

[dx4100]

Unless you're not VAT registered, then it directly affects you. Looks like I'll be buying a lot of hardware before January.
And when VAT goes up..don't expect it come back down. Unless you happen to live in Canada.

So the big question is....is it time to pack bags and get out?

and go where?

[mrdonuts]

pension looks to be fcuked

looks as though they are going to limit what you can shove into a pension

[mrdonuts]

tax oveseas money transfers

How about taxing all this money thats transferred out of UK by western union etc.

Whats earned in the UK stays in the UK - new UK motto

[MrMark]

Almost an anti-climax of a budget. I reckon Darling would have been forced into making bigger cuts by the spekulators...

[Sysman]

If she switches discipline (from Secondary to Primary) I think she would start out a few grades lower. Might be worth considering if she's desperate.

Won't the NQT lot also be there, also competing with a correspondingly lower salary?