Reply to: ***k Nu Liebor

[The Lone Gunman]

I will go and get leathered on Wife Beater tonight, then and start a fight

[AtW]

Cheeky monkey, you're not a Brit just yet.

I will go get leathered on Stella tonight then and start a fight

[sasguru]

Wrong. My usage is perfectly valid. Cheeky monkey, you're not a Brit just yet.

[hugebrain]

Probably one for the accounting section, but does this mean we have to close our companies down before april? Otherwise we get hit for another 18% on retained money where we've already paid 15% VAT and 22% Corp tax?

[AtW]

Sally Ann will be taking the second spot behing the incomparable Zeitghost soon.

[The Lone Gunman]

Sally Ann will be taking second spot behing the incomparable Zeitghost soon.

Behind

[Ruprect]

Sally Ann will be taking second spot behing the incomparable Zeitghost soon.

Anne

[sasguru]

Don't tempt me

Sally Ann will be taking second spot behing the incomparable Zeitghost soon.

[AtW]

Oh Dear atw. Only 6001 posts?

Don't tempt me

[AtW]

Yes I now have my British Passport - it is very nice looking and I like very much the first page that asks in the name of Her Majesty to help the bearer of this passport - very nice touch IMO

Most people now will pay less tax for share speculation - but people who work their arses off working for their own business will pay at least 40% more tax than before - my rough calculation was that selling shares in your company after 2 years would overall be around 11%, now this will be 18% - if they set £1 mln threshold to punish VCs then fair enough, but in reality they will screw small businesses not big VC guys who will just use offshores or some other schemes that are just too expensive for small guys. I can understand xoggoth's stab-stabbity-stab thingy

Bastards - I really hope they will lose the next election whenever it comes, in fact I hope they will all go to jail for blatant thievery.

[sasguru]

AtW,

I may have missed one of your 6000 posts. Can you vote now? Did you get UK citizenship, and did you have do relinquish your passport of origin?

Yes he's changed from a staunch commie to a committed capitalist.
Whoever heard of a Soviet complaining about CGT?

[Pickle2]

As a matter of interest which assets that you've bought as a business have increased in value?

Eh? its nowt to do with the "assets that you've bought as a business ". Its business assets he holds as an individual, ie the shares in his company. They have increased in value directly in line with the pounds notes in the company's account.

[Iron Condor]

The 10K allowance is still there.

When you close down your limted, the first 50K of your reserves wont incur any taxes on it.

The fat cat contractors with more than 50K in reserves deserve a bit more tax.

[Pinto]

AtW,

I may have missed one of your 6000 posts. Can you vote now? Did you get UK citizenship, and did you have do relinquish your passport of origin?

[mace]

I interrupt my silence to quote something that I suspected those greedy taxing thiefs would do, and looks like they did it:

"5.79 The Government is committed to ensuring that the UK has an internationally competitive capital gains tax (CGT) system that promotes flexibility and competition, and responds to the changing needs of investors. Building on the Government’s ongoing programme of tax reform, the Government announces a major reform of the taxation of individuals’ capital gains. This will put the CGT regime on a more sustainable footing and
help investors plan for the long term. For disposals on or after 6 April 2008 there will be a single CGT rate of 18 per cent, resulting in a more straightforward system for taxpayers. As part of this new system the annual exempt amount (currently £9,200) will remain in place, but taper relief and indexation allowance will be withdrawn. HMRC have today published further details of the reform package, and will immediately begin discussion on implementation with interested parties."

So, those ********ers increased CGT on business owners who held shares for more than 3 years because there is no taper relief. Thanks a bunch Gordon Brown, **********r - now big guys will just use offshores and still avoid paying taxes where as small business owners who sell it will pay more tax.

There is no way I will ever vote for those taxing greedy thiefs who should be all put to manual work in coal mines.

True but most people are making capital gains from their private rather than business investments. Currently you still have to pay 24% tax (60% of 40%) on gains over the annual allowance (£9200) after 10 years. From April, you'll pay less capital gains tax whenever you sell your private investments.

The increase in capital gains tax for business assets will mostly affect private equity. As a matter of interest which assets that you've bought as a business have increased in value?