Reply to: Tax cuts abound

[Zero Liability]

HMRC chief amongst them.

[Jack Kada]

You need to look no further than the Scottish independence threads to see how easy it is to get mugged. Promise a few people a tax cut and the mugs vote you back in.

Funny thing is, 5 years ago, you were all pushing for an increase to the 40% lower threshold, now you would be just happy with an increase to the 45% lower threshold.

How times change?

You know what the saddest thing is? That there is no real alternative.

HMRC will never let any government remove IR35. It is there as a deterrent, not a taxation measure. If it went, the floodgates would open and they would not allow it. The reason they don't publish the IR35 tax take is because it's not even important enough to count. I bet they know how much they take from those using brollies and that is their justification.

This is really a very good post. It is spot on the money if you ask me. IR35 has been nothing but a grey area in which many rogue operators trk and exploite on the basis that they have information which you do not

[DodgyAgent]

When is this tax cut going to come in? 2020? You'll all have forgotten it by then. Its just noise.

Didn't Dave promise to cut inheritance tax before the last election?

On the EU more noise. Dave's never veteo'd a treaty. And the EU budget has gone up not down. His stance in the make believe EU negotiations is laughable.

Just about the worst speech since John Major's last one. Miliband's is an idiot but at least there's some honesty in what he says.

And trying to win votes on the back of family tragedy? Dear God.

the speech was very good in that it appealed to the broad masses of the middle class. Cameron is often held to be out of touch as are his eton "cronies" I think this has more to do with inferiority complexes than reality. Someone who has lost a child through illness and has been through his experience with the NHS is hardly someone who is out of touch,. he is right to play it in order to silence the bigots of the left.

[tractor]

...

You need to look no further than the Scottish independence threads to see how easy it is to get mugged. Promise a few people a tax cut and the mugs vote you back in.

Funny thing is, 5 years ago, you were all pushing for an increase to the 40% lower threshold, now you would be just happy with an increase to the 45% lower threshold.

How times change?

You know what the saddest thing is? That there is no real alternative.

HMRC will never let any government remove IR35. It is there as a deterrent, not a taxation measure. If it went, the floodgates would open and they would not allow it. The reason they don't publish the IR35 tax take is because it's not even important enough to count. I bet they know how much they take from those using brollies and that is their justification.

[Unix]

I'm cash positive, fook the rest of you.

When interest rates are almost zero? Not good at this money thing are you?

[centurian]

Major Caveat to this is it will happen by 2020. This from the Party which promised to scrap IR35 should they get in. They did and they didn't. In fact they made it worse.

They made that promise in 2001 - around the time IR35 became law. By 2010, the promise had been watered down somewhat - they promised to "review it" - and from a strict accuracy point of view - they have delivered on that promise.

"review" != "abolish" || "make it better"

[Flashman]

When is this tax cut going to come in? 2020? You'll all have forgotten it by then. Its just noise.

Didn't Dave promise to cut inheritance tax before the last election?

On the EU more noise. Dave's never veteo'd a treaty. And the EU budget has gone up not down. His stance in the make believe EU negotiations is laughable.

Just about the worst speech since John Major's last one. Miliband's is an idiot but at least there's some honesty in what he says.

And trying to win votes on the back of family tragedy? Dear God.

[Zero Liability]

Which could well be the case, provided they don't put any obstacles in the way of businesses creating jobs, particularly smaller businesses. Then again, some of them are of the view that people want to get to the 40% threshold, so they can feel as if they've "made it".

Major Caveat to this is it will happen by 2020. This from the Party which promised to scrap IR35 should they get in. They did and they didn't. In fact they made it worse.

Wasn't that the Lib-dems? Ironically, it's now Labour that is "recognising the value" of contractors, however I can't help but think it's just another cheap ploy to win votes and remain on the good side of their buddies in big business and the public sector, who extensively utilise contractors.

[d000hg]

So where do we think they will find the money.

The plan is probably people will want to earn more now they get to keep more of it?

[MarillionFan]

Yeah makes sense as borrowing increases and we owe 1.3 trillion pounds.

I'm cash positive, fook the rest of you.

[ZARDOZ]

Major Caveat to this is it will happen by 2020. This from the Party which promised to scrap IR35 should they get in. They did and they didn't. In fact they made it worse.

[Zero Liability]

Yes, I hope we see a lot more of Milliband this year, should do well to thrash Labour's chances of winning. Maybe he can have the Gordon Brown effect.

[NorthWestPerm2Contr]

Seriously considering voting conservative for the first time following that speech. Have always leaned towards labour in the past but the combination of Ed miliband and my decreasing negativity towards Cameron means I am likely to go conservative next year. The extra few 1000 I can withdraw each year in dividends will allow me to live a lot more comfortably as well.

[centurian]

So where do we think they will find the money.

Well firstly, that will automatically increase the 62% marginal tax band from £100,000 to £125,000. It was bad enough when that band was 13K, but now it requires considerably more inertia to push through it to bring the average down again.

Higher rate pensions tax relief - it's just too tempting for any government to leave alone. Labour and LD will restrict it - and the Tories have been suspiciously quiet on it

[darmstadt]

I saw this on some website from his speech:

People working 30 hours a week will not pay any tax.

but its not quite that:

So with us, if you work 30 hours a week on minimum wage, you will pay no income tax at all. Nothing. Zero. Zilch.

Damn!

The full speech: CCHQ Press

General Election is in 217 days, see how much of that comes to fruition before and after the big day