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Previously on "The official Budget 2017 DOOM thread"

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  • northernladyuk
    replied
    Originally posted by OwlHoot View Post
    Given the trifling amount the Government estimates will be raised by increasing NI for the self employed, plus the inevitable stick they must have anticipated for breaking an election manifesto commitment not to raise NI, there must have been some strong incentive to do so.

    Since for once we presumably can't blame some secret EU directive, I reckon it must be the start of a longer term plan to harmonize NI and income tax for all forms of income (in which case IR35 would become moot).
    I guess they're cobbling every little bit of cash together that they can to try and minimise the deficit, now that Brexit is round the corner.

    But I accept that such views are seen as treasonous by Project Narnia.

    Leave a comment:


  • ZARDOZ
    replied
    Remember back in the days of Labour when the PCG had the pledge that the Tories would abolish IR35?

    Roll on 10 years or so and a Conservative government

    Strengthens IR35
    Introduces a dividend tax
    Raises NI for self employed
    Abolishes flat rate VAT
    Removes employment allowance

    All in the name of fairness. This government serves only the corporate lobby that fund it. They are like a tulip version of New Labour.

    They are even continuing to f up the economy.

    -National debt rising daily toward 2 trillion.
    -GDP largely underpinned by consumer credit and house price bubble.
    -GDP per capita lower than Italy.
    Last edited by ZARDOZ; 10 March 2017, 11:34.

    Leave a comment:


  • OwlHoot
    replied
    Given the trifling amount the Government estimates will be raised by increasing NI for the self employed, plus the inevitable stick they must have anticipated for breaking an election manifesto commitment not to raise NI, there must have been some strong incentive to do so.

    Since for once we presumably can't blame some secret EU directive, I reckon it must be the start of a longer term plan to harmonize NI and income tax for all forms of income (in which case IR35 would become moot).

    Leave a comment:


  • scooterscot
    replied
    £350 million budget for Scotland? What the duce? Labour will never return to power in my lifetime... I do wonder for how much longer residents in Scotland will continue to take it up the @£$£ from the Tories.

    Leave a comment:


  • NigelJK
    replied
    Anyone know what those MP's (there were 100's apparently) who previously ran ltd cos and paid themselves dividends are now advised by their own civil servants?

    Leave a comment:


  • PurpleGorilla
    replied
    The official Budget 2017 DOOM thread

    Originally posted by TestMangler View Post
    Why do all you union jack waving BritNat F**knuts always whine about 'what labour would do'. They're not in power and are not likely to be in the near future. They didn't introduce the dividend tax, they didn't almost wipe out the allowance on said tax, they didn't tulip (from quite so high up) on the self employed or PSCs. They didn't introduce the new PS IR35 rules. Your business loving Tories are doing that now. I didn't hear any measures being put in place on evasion and avoidance by companies big enough to have their own lobby groups though, you know, the ones that your tory masters are shareholders in.
    Labour did nothIng to prevent the housing / BTL bubble. Indeed in many ways they actively encouraged it.

    Then they opened the door to Eastern Europe.

    Then bailed out the champagne drinking bankers, with an unconditional cheque.

    I will never forgive them for that.

    Leave a comment:


  • jamesbrown
    replied
    Weeeee!

    Leave a comment:


  • jamesbrown
    replied
    Originally posted by AtW View Post
    If he makes u-turn he'd have to increase dividend tax to make up for "the loss", this is where it's heading...
    Theresa May denies breaking election tax promise over National Insurance as 100 Tory MPs prepare to join Budget rebellion

    Sources close to Mr Hammond told the Telegraph he is considering a full-scale revision of the tax system for the self-employed, enabling him to drop his plans for class 4 NI contributions as part of a wider review.

    Leave a comment:


  • DimPrawn
    replied
    Originally posted by shaunbhoy View Post
    Budget measures 'worth £350m' to Scotland - BBC News

    Well at least we can see where that £350M is going...................

    Leave a comment:


  • AtW
    replied
    Originally posted by jamesbrown View Post
    Sounds like a partial climbdown, not legislating until the Autumn Budget, which is what they should've done anyway

    https://www.theguardian.com/politics...tory-rebellion
    And in Autumn Budget they will intro higher dividend tax to pay for those NICs delayed until 2020, so that manifesto is not broken! You've heard it on here first...

    Leave a comment:


  • jamesbrown
    replied
    Sounds like a partial climbdown, not legislating until the Autumn Budget, which is what they should've done anyway

    https://www.theguardian.com/politics...tory-rebellion

    Leave a comment:


  • AtW
    replied
    Oh dear, May falls to same stupid "defense" as Spreadtulip Phil - "In legislation that we passed after you mugs elected us, we specifically only talked about not increasing Class 1 NICs, so there!"

    National Insurance rise 'fair', says PM - BBC News

    Leave a comment:


  • BrilloPad
    replied
    Originally posted by AtW View Post
    Remember - it's 20% tax for US based profits and it will be 0% for foreign profits, this will please Apple/Google/Facebook - they will be able to repatriate money from Bermuda on the cheap.
    When will the UK introduce the same?

    Leave a comment:


  • northernladyuk
    replied
    Originally posted by NigelJK View Post
    It is about time they dropped Corp tax altogether (and PAYE for that matter). Replace with a Corporation Sales Tax made at point of sale (i.e. if it's sold to a UK resident it gets CST - something like that, the devil is in the detail I know), make it flat and collect via the VAT scheme.

    HMRC claim that VAT costs 1p in the £1 to collect. Corp tax is around 20p per £1.
    How would banks be taxed? CST on interest component of credit repayments, instead of CT on profits?

    Leave a comment:


  • NigelJK
    replied
    It is about time they dropped Corp tax altogether (and PAYE for that matter). Replace with a Corporation Sales Tax made at point of sale (i.e. if it's sold to a UK resident it gets CST - something like that, the devil is in the detail I know), make it flat and collect via the VAT scheme.

    HMRC claim that VAT costs 1p in the £1 to collect. Corp tax is around 20p per £1.

    Leave a comment:

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