Budget 2013

[Ignis Fatuus]

So what about people who opted out of SERPS?

They will get the new Single Tier Pension of £144 plus whatever they happen to get from whatever they did with the SERPS money.

The people in SERPS will not lose their SERPS pension, but they will stop gaining any more entitlement after the new system is brought in, so while they won't actually lose in absolute terms, they will have had to save for what others just get.

[DimPrawn]

1p off a pint, or buy 300, get one free!

[GB9]

Although I dislike Milliband, he destroyed the budget, the chancellor, PM Cabinet and Government with that response. Tories are dead.

Are you sure? He just seemed to embarass himself. He barely commented on policy and made an arse of himself reading a pre-prepared speech that didn't forecast the £10k threshold being brought forward or the 10p tax discussion becoming obsolete.

Even Osborne's usual bashers on R5 are grudgingly praising the budget.

[GB9]

Am I right in thinking we will benefit from the £2k in employers ni reduction?

[Ketchup]

Am I right in thinking we will benefit from the £2k in employers ni reduction?

I don't know how many of us pay enough NI to benefit from it

[The Spartan]

Am I right in thinking we will benefit from the £2k in employers ni reduction?

That would probably make more of a difference if you were working through a brolly I suspect

[SantaClaus]

... and so the housing bubble continues.

Encourage young people to get into even more debt and continue inflating property prices.

Osborne just kicked the can down the road.

[dx4100]

I don't know how many of us pay enough NI to benefit from it

Going to save you around £700 if you pay yourself at around NMW....

A lot of people with IR35 insurance have clauses saying they have to do this.

Obviously if you are IR35 caught its going to save you the £2000 I imagine if you work through a LTD. Not sure about umberalla.

[Nixon Williams]

Am I right in thinking we will benefit from the £2k in employers ni reduction?

Anyone paying a salary above the NIC threshold will benefit in that the employer NIC payable will effectively be refunded upto £2,000.

This will only apply from April 2014.

Although any tax cut is a help, it will still be marginally more tax efficient to remain on a salary of £7,696 (2013/14) than pay more due to the employee NIC that will still be payable.

That said, if you do pay more than the £7,696 as a salary, then you will benefit but it is not enough to suggest a change in our advice.

Alan

[Nixon Williams]

That would probably make more of a difference if you were working through a brolly I suspect

Unlikely, the £2,000 is per employer, so a brolly with a 1,000 contractors will only save £2 per client!