The official "Budget 2014" thread

[doodab]

Very true but they also get other things in return, of which there is a large list but in essence they're probably taking more out than they're putting in.

But that's true of everyone in aggregate which is why there is a deficit. "Net contributors" probably make up such a tiny percentage of taxpayers that if they were the only people allowed to vote they would need to be allowed to vote several times to ensure we could have elections across the whole country.

[pmasoft]

You get a higher chance of being killed early also!!!

I think he actually said "those who give their lives" not those who serve.

[pmasoft]

You don't have to pay inheritance tax if you are in the armed forces.

I think what he actually said was "those who give their lives". So you actually have to die whilst serving!!

[darmstadt]

So, bingo and beer (and Scotch)...I think you can see where he's going with that

[Zero Liability]

Less bad than I thought it'd be. I hope the Lords come out with some toothless suggestions for IR35, or better yet, see it for the waste it is, and recommend to abolish it, like the Lib-dems promised. If there is the intention to harmonise NIC and income tax in the future, perhaps it'll be left 'as is' until that occurs.

[AtW]

I think he actually said "those who give their lives" not those who serve.

So one has to be killed in order to qualify for a tax relief...

[Flashman]

Ambrose 'we're all doomed' Pritchard nails it in Telegraph.

Budget 2014: Britain’s false recovery is a credit mirage, unlike real recovery in the US

........The brutal reality is that Britain is still running the highest budget deficit of any major country in Europe at 6.7pc of GDP. That is not Mr Osborne’s fault. Labour let the public sector run amok. It ran a recklessly loose fiscal policy at the top of the pre-Lehman boom. The deficit mushroomed to 11pc when the storm hit, the legacy from Hell.

The Office for Budget Responsibility forecasts that the deficit will come down to 5.5pc next year, 4.2pc the year after and ending in a surplus by 2018/2019. That is pure conjecture......

http://www.telegraph.co.uk/finance/b...in-the-US.html

Osborne is fiddling with marginal changes. The economic 'recovery' is actually based on a consumer/housing boom.

[Flashman]

So, bingo and beer (and Scotch)...I think you can see where he's going with that

Nice

[AtW]

Budget 2014: peer-to-peer to be included in Isas - Telegraph

This is interesting - do a DimPrawn ... tax-free!

[Zero Liability]

Budget 2014: peer-to-peer to be included in Isas - Telegraph

This is interesting - do a DimPrawn ... tax-free!

Yes, that is very good indeed. I might put some money in one of those through an ISA. I think most of the stuff being brought in is decent from a lower tax perspective, and finally they have made moves to make saving and investing less taxed. P2P is far better than the rubbish returns most savings accounts offer, and within an ISA, the returns will be even better.

Of course, with all these nice goodies also come HMRC's increased powers with regard to recouping debts 'owed' to them. Seems like accountants and contractors alike are pushing back against it, though.