Feeling very Grumpy about the Budget Predictions

[jonnyboy]

Not sure where you've got that from. There was something reported a few days ago about tighter restrictions on benefits (which include mobile phones) in lieu of salary (i.e. salary sacrifice). This is unlikely to apply to us or anyone else who does not use a salary sacrifice scheme.

Various sources... including the Telegraph...
Revealed: Treasury to announce tax raid on work perks enjoyed by millions of middle earners 

Yes, this and the other restrictions on Gyms etc is via Salary Sacrifice... but its stil an increased tax, even if it does not effect us contractors (yet).

[eek]

1) Don't have - its an admin hassle that doesn't save any money (personal contracts are cheaper than business ones).
2) Good - landlords can shop around, fees were just profit for the letting agency
3) They've been trying to do that for 20 years - nothing succeeded yet.
4) That's coming but its the fact NI won't be deductable anymore
5) already announced
6) That's covered by 1 and 4. NI won't be deductable anymore
7) whatever but it was increased in April so I doubt it.
8) Never heard of it before. I doubt it.

[TheCyclingProgrammer]

Company Mobile phones will be a taxable benefit regardless of its use - very likely

Not sure where you've got that from. There was something reported a few days ago about tighter restrictions on benefits (which include mobile phones) in lieu of salary (i.e. salary sacrifice). This is unlikely to apply to us or anyone else who does not use a salary sacrifice scheme.

[sasguru]

The people will get what they voted for alright

[NickFitz]

Given that neither the Chancellor of the Exchequer nor the government as a whole have got the faintest idea of what to do, all predictions of what he might do are suspect at best. HTH

[jonnyboy]

As the title says, today I feel myself feeling very Grumpy about the Budget Predictions that are floating around this week. It seems that to fill the Brexit coffers, the government is going to tax everybody into oblivion.

Putting aside the IR35 disaster which is going to be announced this afternoon, the new chancellor is likely to announce (from various sources):

1) Company Mobile phones will be a taxable benefit regardless of its use - very likely
2) Property company rental costs to be outlawed (so tenants have no costs to move in), which means all move in costs will be pushed back up to the landlords (which means I and other landlords would have to put my monthly rents up to cover the costs) - very likely
3) Parking outside of offices to be a taxable benefit regardless of its use - possible - has been muted before
4) A new private medical tax on the likes of Bupa, PPP etc - not very likely
5) Introduction of an enhanced sugar AND fat tax - possible. Peh, these goes the price of my Jaffa Cake treat
6) New taxes on company provided bikes, gyms, magazine subscriptions and professional organisations - likely.
7) Increase in insurance tax - very likely
8) A new communication tax for internet and mobile phone bills to fund 5G investment - very likely

With the increase of minimum wage, seems the government is going gung-ho to tax the middle class and SMEs into oblivion whilst giving sweet deals to multinationals.

But on the plus side, they are going to announce...

1) An increase of £1b for R&D research... most of which will go to Facebook so they can create a whooping 500 jobs and research how to pay less tax
2) A block on cold callers on pensions.... unless the caller is outside of the UK, erm, which most of them are...or they dont want to talk about PPI or a virus on your PC or whatever
3) A possible freeze on air passanger tax - after all, all the MPs have been working hard for almost 6 weeks, so need to get away on their hols soon

Off now to buy myself some rope and listen to the budget.