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Autumn Budget


spunko

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30 minutes ago, One percent said:

I thought the scandi price was that it was taxed out of reach. According to that graph, we pay way more in tax, so what’s the reason?  

we can afoard to buy it hence pay tax on it,they cant and they have a lower population hence lower revinew.watch how the scotish minimum price per unit drops alchol consumption over the next 2-3 years.all done under the guise of health.

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Just now, stokiescum said:

we can afoard to buy it hence pay tax on it,they cant and they have a lower population hence lower revinew.watch how the scotish minimum price per unit drops alchol consumption over the next 2-3 years.all done under the guise of health.

👍 reps out of. 

Makes an illegal still more tempting. 

Btw, did you know that gin is vodka flavoured with juniper. I’m sure we could knock that up with a few copper pipes and some potatoes. 

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Napoleon Dynamite
33 minutes ago, snaga said:

also benefit from lower threshold, believe it's in the region of £860pa better off. I'll take that back thank you. did they increase the child benefit claw back threshold? I'm trying hard to keep my taxable income below £50K which is why I was so concerned about pension tax reforms.

Yep it's £860.  Bad calcs on my part, I had lower tax at £12K rather than £12.5K.  

I think the Child Benefit clawback threshold has stayed static at £50K since it was introduced (in 2013?).  

I'm concerned about the Pension Tax Reforms, but think touching them would be dynamite.  So all good for another year.

 

 

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27 minutes ago, One percent said:

👍 reps out of. 

Makes an illegal still more tempting. 

Btw, did you know that gin is vodka flavoured with juniper. I’m sure we could knock that up with a few copper pipes and some potatoes. 

after 3-4 years it will be increased in the budget just like ciggaretes have been.we will be geting this sooner or later trust me.

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Just now, stokiescum said:

after 3-4 years it will be increased in the budget just like ciggaretes have been.we will be geting this sooner or later trust me.

Ok, we need a plumber to build us a still. 

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28 minutes ago, One percent said:

Ok, we need a plumber to build us a still. 

will need the lodger to move out then id have room,but i think the east europeans would corner this market.but ive a few scandinavian friends and most drink smuggled russian vodka,well the finns certanly do.ps i know finns are not scandinavian.

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4 minutes ago, One percent said:

👍 reps out of. 

Makes an illegal still more tempting. 

Btw, did you know that gin is vodka flavoured with juniper. I’m sure we could knock that up with a few copper pipes and some potatoes. 

I’m currently making my own cider, it’s pretty straight forward and equipment like demijohns etc can be picked up for free/peanuts on apps like Shpock.

If you wanted something stronger you can mix a clear spirit up to 23% ABV using Alcotech yeast to use with mixers without the need for the risk of blowing yourself up with distilling etc.

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4 minutes ago, stokiescum said:

will need the lodger to move out then id have room,but i think the east europeans would corner this market.but ive a few scandinavian friends and most drink smuggled russian vodka,well the finns certanly do.ps i know finns are not scandinavian.

I’m sure there is Moore to be made from an illegal still, than a lodger. Or, even better, offer a discount for them to have the still in their room (stokiescum the slum landlord? xD). 

Just don’t blow the bloody doors off. xD

2 minutes ago, Sideysid said:

I’m currently making my own cider, it’s pretty straight forward and equipment like demijohns etc can be picked up for free/peanuts on apps like Shpock.

If you wanted something stronger you can mix a clear spirit up to 23% ABV using Alcotech yeast to use with mixers without the need for the risk of blowing yourself up with distilling etc.

👍 

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1 hour ago, Napoleon Dynamite said:

Yep it's £860.  Bad calcs on my part, I had lower tax at £12K rather than £12.5K.  

I think the Child Benefit clawback threshold has stayed static at £50K since it was introduced (in 2013?).  

I'm concerned about the Pension Tax Reforms, but think touching them would be dynamite.  So all good for another year.

 

 

BBC now have a calculator up, NI contributions are going up so someone earning £50K pa will save £860 income tax but pay additional NI of £340 (was this announced last budget?)

https://www.bbc.co.uk/news/business-17442946

still £520 better off, but not as great as first hoped.

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You know what it was like all budgets, terrible. Especially the IR35 changes.

I always laugh when I read about £500 a year better off I think most people want to be 5 - 10 K a year better off for it to make any difference these days. Tens and Hundreds of pounds are neither here nor there. 

Budget day, just the  mafia telling you how much they are going to fuck you over next year. 

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11 hours ago, null; said:

The gap between rich and poor would be even bigger if it was a Labour government.

Evidence? It’s very easy to say but without a time machine impossible to prove.. 

The CONSERVATIVES  are so bent I’m not sure where we would be now if miliband had won? 

Tony Blair was an evil bastard for sure, but complete opposite of the far left policies we have now.. He was a conservative in a red tie..

and don’t forget social housing and the NHS were Labour brainchild’s.. 

housing privatisation and PFI contracts were Tory inventions.. 

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11 hours ago, Dipsy said:

Not much happened pensions wise. Lifetime allowance up a little bit. No changes to tax relief. I think it's too complicated to change as a lot of individuals contribute via salary sacrifice rather than make net contributions that are grossed up.

I thought the advantages of salary sacrifice had been negated by recent tax changes, at least for higher earners.  But it's still done? 

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7 hours ago, ad_ceng said:

You know what it was like all budgets, terrible. Especially the IR35 changes.

I always laugh when I read about £500 a year better off I think most people want to be 5 - 10 K a year better off for it to make any difference these days. Tens and Hundreds of pounds are neither here nor there. 

Budget day, just the  mafia telling you how much they are going to fuck you over next year. 

Im undecided onthe IR35 stuff.

There's a lot of people/companies taking the absolute piss - basically employing people FT as contractors.

IR35 is easily worked around - have > 2 contracts each tax year. Or set up a small company with someone else.

If you cannot manage these then you probably are not a contractor.

 

 

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Calling people on £50k p.a. "rich" is borderline offensive. It's roughly 3k net per month. 3-bed terrace in the middle of a council estate in North London - £1650/month. Council tax - £150. Utilities, including internet & mobiles - £250. That leaves you with around £1000k and you haven't even eaten anything yet, not to mention clothing, car or holiday. Rich as fuck.

The budget looks surprisingly positive at first glance, but let's wait and see what dirty details come up in the next few days.

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Table1-1.thumb.png.c663c7493db98ca7bb662ab500efc08f.png

From the red book published after the budget yesterday.

Are there any maths whizzes who can explain how much the population will increase by next year if the GDP can increase by 1.6% but GDP per capita only increases by 1.0%? 

 

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7 minutes ago, Wheeler said:

Table1-1.thumb.png.c663c7493db98ca7bb662ab500efc08f.png

From the red book published after the budget yesterday.

Are there any maths whizzes who can explain how much the population will increase by next year if the GDP can increase by 1.6% but GDP per capita only increases by 1.0%? 

 

Productivity increasing and 1.1 million new jobs?  I call bullshit.

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2 hours ago, kibuc said:

Calling people on £50k p.a. "rich" is borderline offensive. It's roughly 3k net per month. 3-bed terrace in the middle of a council estate in North London - £1650/month. Council tax - £150. Utilities, including internet & mobiles - £250. That leaves you with around £1000k and you haven't even eaten anything yet, not to mention clothing, car or holiday. Rich as fuck.

The budget looks surprisingly positive at first glance, but let's wait and see what dirty details come up in the next few days.

Hence the need to start taxing asset wealth as opposed to income. It coming.

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1 minute ago, Banned said:

Hence the need to start taxing asset wealth as opposed to income. It coming.

That's why I'm not opposed to further reductions in SDLT. In fact, I think there should be no SDLT on main residence regardless of transaction value. Make moving houses as cheap and seamless as possible. Tax the asset instead, so people don't hemorrhage property they don't really nead.

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1 hour ago, Wheeler said:

Are there any maths whizzes who can explain how much the population will increase by next year if the GDP can increase by 1.6% but GDP per capita only increases by 1.0%?

Roughly 0.59%, or 390k heads.

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