Reply to: Labour Planning to Increase Corporation Tax to 26%

[SlipTheJab]

I read this as they want to lose very badly, by alienating every type of Labour voter out there (except full blown communists).
This will shield Labour from the massive political fallout that Brexit is. Only after can they re-emerge, like phoenix and the saviour of the British nation...

With Tony Bliar at the helm

[Invisiblehand]

Yes, but she's so thick, understanding the subtleties of public life is beyond her intellect (IMO).

Couldn't agree more. Her Brexit no show was embarrassing.

[yasockie]

I read this as they want to lose very badly, by alienating every type of Labour voter out there (except full blown communists).
This will shield Labour from the massive political fallout that Brexit is. Only after can they re-emerge, like phoenix and the saviour of the British nation...

[dotcom12]

Has this been posted yet?

Jeremy Corbyn plans to hike corporation tax to 26% | Daily Mail Online

Surely a killer for anyone still considering voting labour?

The Leaked manifesto seems like a game changer, if you want to do very little and be rewarded then its seems like Labour is the obvious choice. Inevitably that comes with future generations picking up most of the tab

[SandyD]

Then page 7 re Brexit

[Fred Bloggs]

Diane Abbott hasn't resigned. . Then again Komrade Korbyn won't have a shadow cabinet if she does.

Yes, but she's so thick, understanding the subtleties of public life is beyond her intellect (IMO).

[SandyD]

https://www.theguardian.com/politics...sto-after-leak

Page 6

[SueEllen]

I find this hilarious actually. I'm impressed that Comrade Corbyn actually knows the current rate of corporation tax.

Who else remembers former shadow chancellor Alan Johnson, before the 2010 election he was on Radio 4 telling John Humphrys that corporation tax was too low and that he was gong to raise it. But Mr Humphrys, naturally, asked him how high he would raise it to. When he didn't answer the question, Mr Humphrys asked Mr Johnson if he knew what the then present rate of corporation tax actually was. He didn't know! Shortly after that he resigned. No friggin' wonder eh?

Diane Abbott hasn't resigned. . Then again Komrade Korbyn won't have a shadow cabinet if she does.

[Fred Bloggs]

I find this hilarious actually. I'm impressed that Comrade Corbyn actually knows the current rate of corporation tax.

Who else remembers former shadow chancellor Alan Johnson, before the 2010 election he was on Radio 4 telling John Humphrys that corporation tax was too low and that he was gong to raise it. But Mr Humphrys, naturally, asked him how high he would raise it to. When he didn't answer the question, Mr Humphrys asked Mr Johnson if he knew what the then present rate of corporation tax actually was. He didn't know! Shortly after that he resigned. No friggin' wonder eh?

[Lost It]

The Cons will carry on as before, changing the manifesto so that they can carry out the "tax raid" on the self employed that Hammond had to back down from last budget.

Nothing will get us back to the old days.

Labour? Well the decision is really:

Which Liar manufactures the most credible lies.

My money is on Labour being much more honest because Corbyn is basically honest.

[WordIsBond]

And vote Tory and get off-payroll working legislation across the private sector too.

You think Labour won't do that? You've got to be kidding.

The Tories are now Labour-lite, which is why they've completely failed us on IR35. But it was Labour who brought the monstrosity into existence and entrenched it.

Guarantee #1 -- the Tories will be bad for us.
Guarantee #2 -- Labour would be worse.

[DaveB]

And vote Tory and get off-payroll working legislation across the private sector too.

I reckon this has cost us (and many others) far more plus has the ability to really impact business (no expenses for example).

This.

CT changes are worth one or two thousand quid each way at most for most people here. Imposition of IR35 in the private sector as it has been in the public will cost us far far more.

[b r]

Surely a killer for anyone still considering voting labour?

And vote Tory and get off-payroll working legislation across the private sector too.

I reckon this has cost us (and many others) far more plus has the ability to really impact business (no expenses for example).

[Maslins]

It says here it is based on profit

"Smaller firms with profits below £300,000 a year will see more modest rises - up to 21% by 2020-21."

That's basically what is was before, then with a marginal rate for businesses between £300k-£1.5k profit.

As someone who's previously specialised in corporation tax, having a flat rate regardless of profit level is a massive simplification, and not something I'd like to see reversed. With things like associated companies rules varying CT rates is a real pain. However I also am aware that simplifying tax rules is something politicians like to talk about doing whilst actually doing the reverse.

Plus as others have mentioned, many big corporates simply shift profits elsewhere, so doesn't matter whether it's 17% or 26%, when you multiply it by £zero you get £zero.

[TheCyclingProgrammer]

It says here it is based on profit

"Smaller firms with profits below £300,000 a year will see more modest rises - up to 21% by 2020-21."

Huh. Well. I must have misread it, I'm sure it said turnover earlier.

In fact I just checked and it seems the old dual banding for CT was based on profit, so forget everything I said.