Reply to: The official "Budget 2014" thread

[Zero Liability]

"Personal and Managed Service Companies who pay contract fees instead of a wage or salary, may not be able to claim the Employment Allowance, as you cannot claim the allowance for any deemed payments of employment income."

Does this mean we can or can't?

I love it when they use the words 'may not' to mean 'will not'. I think the upshot of it is, if you're subcontracting someone under that arrangement, you can't apply the allowance to that. I can't see why it wouldn't apply to the director's salary which is, after all, salary. Otherwise, I don't quite know what it means.

[doodab]

I can't believe that is a real advert. Absolutely priceless.

[lukemg]

Absolutely HUGE.

I've got a SIPP pension (i.e. Deposit cash as and when choose. Personally decide how much (0-100%)to invest in stocks n shares/what stocks n shares/when to sell stocks n shares. Could leave as 100% cash if preferred).

Being able to take the whole lot out as cash (after 55) rather than buying some boring annuity from an insurance company is excellent.

You dont have to buy one now and would be mad to do so. You can use income drawdown (just gone up to 150% of what basic annuity pays)
Taking the lot out does involve paying tax on it, just less than before and you can take it all now.
This will provide a bump to the gvnmt coffers I reckon as people cash in.
First priority is generate 12k from other sources then you can take what you want in drawdown but 150% of annuity rate is prob still a sensible proportion.

[SueEllen]

The first, and probably last time I've linked to the Mail. 'The Thick of It' is actually a documentary, y'know.

The same as Twenty Twelve.

I though both programs were far-fetched rubbish when I first watched an episode. Then when I watched them both later I realise they were fly-on-the-wall documentary series.

[pjclarke]

The first, and probably last time I've linked to the Mail. 'The Thick of It' is actually a documentary, y'know.

[Sausage Surprise]

This £1600 a year worse off.

Surely the increase in the personal allowance and freeze on beer (and cider) and fuel duties must make a contribution.

By the way, I heard a reference to £2000 refund for every company employing people. The 'Employment Allowance'

Do we get this, if we pay ourselves more than the NI limit?

EDIT: oooh, nice
https://www.gov.uk/employment-allowance

"Personal and Managed Service Companies who pay contract fees instead of a wage or salary, may not be able to claim the Employment Allowance, as you cannot claim the allowance for any deemed payments of employment income."

Does this mean we can or can't?

[vetran]

What were the Tories thinking with that advert?

photoshopped surely? - edit no its real foolish boy!

http://www.dailymail.co.uk/news/arti...ngs-enjoy.html

some great spoofs on there.

[mudskipper]

The money you put in a deposit account is money you've earned and paid tax on already. Yet you still pay tax on the interest.

The money you spend on beer is benefits money someone else has earned and paid tax on already, yet you still have to pay beer tax, VAT, and indirectly the breweries CT, the pub and breweries' employees income tax and NI, plus some other taxes I haven't thought of.

What were the Tories thinking with that advert?

FTFY

[VectraMan]

The money you put in an ISA is money you've earned and paid tax on already.

The money you put in a deposit account is money you've earned and paid tax on already. Yet you still pay tax on the interest.

The money you spend on beer is money you've earned and paid tax on already, yet you still have to pay beer tax, VAT, and indirectly the breweries CT, the pub and breweries' employees income tax and NI, plus some other taxes I haven't thought of.

What were the Tories thinking with that advert?

[d000hg]

So, bingo and beer (and Scotch)...I think you can see where he's going with that

Not entirely inaccurate though, sadly.

Paying dividends, which is a recognisable way of remunerating and has its own specific tax policy, is the cause of all blood sucking scum evil.

Putting your savings in an ISA to avoid paying tax is to be applauded.

Discuss.

The money you put in an ISA is money you've earned and paid tax on already.

[mudskipper]

Soon to be announced:

No VAT on flat caps
Tax relief for whippet owners

[AtW]

Milliband really does come across as a clueless twit. Much as I may not like them, Osborne and Cameron are smooth operators as far as politicians are concerned. I guess all that Eton and Oxbridge schooling was good for something.

Milipede is out of his depth, voice is just not smooth for a politician of such caliber - his comments about budget were completely irrelevant and down right stupid when he talks about lower quality of life under Tories as if it's not a direct result of Labour policies just few years ago.

His brother must be laughing now.

[Zero Liability]

Milliband really does come across as a clueless twit. Much as I may not like them, Osborne and Cameron are smooth operators as far as politicians are concerned. I guess all that Eton and Oxbridge schooling was good for something.

[Flashman]

Another CCHQ Internet Success - Guy Fawkes' blog

"So, we listened to this Pulp song from the 90s abt working class people & we think we've nailed it"

5% on the UKIP vote in May straight away

[AtW]

Paying dividends, which is a recognisable way of remunerating and has its own specific tax policy, is the cause of all blood sucking scum evil.

Putting your savings in an ISA to avoid paying tax is to be applauded. Discuss.

Paying dividends is ok because income tax is still due and corp tax should be paid.