The Next Conservative Budget

[Cupramax]

Uh oh, Harperson, let the bleating and hand wringing begin

[Stevanos]

essayer said:

This is the most hostile budget for small business owners that I can remember

Reduced NI obligations
Reduce corporation tax

?

[Luke Warm]

Living wage to cost 60,000 jobs according to the OBR. With that and cuts to tax credits, how many small businesses will go under because of this budget?

[Mermaid]

essayer said:

This is the most hostile budget for small business owners that I can remember

Await exact details,.... for it seems to go against their strategy.

[worsy]

Luke Warm said:

Living wage to cost 60,000 jobs according to the OBR. With that and cuts to tax credits, how many small businesses will go under because of this budget?

Surely it just pushes prices up.

[Luke Warm]

worsy said:

Surely it just pushes prices up.

And customers just go somewhere else.

[RobGT81]

Pay rise for contractors, nice

[bobbylondonuk]

I think it is a brilliant Tory budget.

Welfare lower limits for income earning tax payers
non earning people have lower limits to free money
disabled people are not limited

Defence budget to hit 2% real terms
NHS hole plugged

11k tax free income plus 5K dividend allowance
tax rates income 20%,40%,45% - dividend 7.5%,32.5%,38.1%
Employers NI rebates

Pensions to be treated as ISA for tax free dividends
Mortgage interest relief for buy to let restricted to 20%

VED to be allocated to road maintainence.





I think it is pretty decent

[jonah35]

Stevanos said:

essayer said:

This is the most hostile budget for small business owners that I can remember

Reduced NI obligations
Reduce corporation tax

?

Best budget ever.

How can it be bad? First £5k dividends tax free, reduced NI, reduced corporation tax?

[CaptainSlow]

Eric Mc said:

CaptainSlow said:

hmmm...self employed paying via divis have been hit!!

Self employed people can't pay themselves using dividends.

Shareholders of a limited company receive dividends - sometimes.

Substance over form

[jonah35]

Eric Mc said:

CaptainSlow said:

hmmm...self employed paying via divis have been hit!!

Self employed people can't pay themselves using dividends.

Shareholders of a limited company receive dividends - sometimes.

Eric, how does this affect contractors? Good or bad?

[ralphrj]

Vehicle Excise Duty changes:

Changes for cars registered after 1st April 2017.

Only cars with zero CO2 emissions will have zero VED.

First year rates vary according to VED. Cars emitting over 255g/km will pay £2,000 first year tax.

All cars irrespective of CO2 will pay £140 per year.

Premium cars (list price over £40k) will have to pay a supplementary VED of £310 per year for the first 5 years (i.e. £450 per year).

[Megaflow]

The VED changes seem quite sensible to me at first glance. The first year is done by co2, and varies from £0 to £2000. There after, everything is £140 a year, with a £310 premium supplement for cars costing over £40k. Applies to cars registered on or after 1st April 2017.

Seems like good news to me if you buy used cars.

ETA: Bugger, must type faster...

Edited by Megaflow on Wednesday 8th July 13:55

[CaptainSlow]

jonah35 said:

Eric Mc said:

CaptainSlow said:

hmmm...self employed paying via divis have been hit!!

Self employed people can't pay themselves using dividends.

Shareholders of a limited company receive dividends - sometimes.

Eric, how does this affect contractors? Good or bad?

Bad, very bad

[jonah35]

Megaflow said:

The VED changes seem quite sensible to me at first glance. The first year is done by co2, and varies from £0 to £2000. There after, everything is £140 a year, with a £310 premium supplement for cars costing over £40k. Applies to cars registered on or after 1st April 2017.

Fair and logical.mthe premium cars after a few years is dropped so it helps people buying secondhand

[covmutley]

harman criticises the budget as being political.... who would have thunk it?

[jonah35]

CaptainSlow said:

jonah35 said:

Eric Mc said:

CaptainSlow said:

hmmm...self employed paying via divis have been hit!!

Self employed people can't pay themselves using dividends.

Shareholders of a limited company receive dividends - sometimes.

Eric, how does this affect contractors? Good or bad?

Bad, very bad

Corporation tax lower, dividends lower. But didn't he say something about stopping contractors (employees moonlighting as contractors)

[CaptainSlow]

jonah35 said:

Corporation tax lower, dividends lower. But didn't he say something about stopping contractors (employees moonlighting as contractors)

Corp Tax down 2% but Income Tax on dividends up 7.5%....and how long will it stay at 7.5%?

[oyster]

markcoznottz said:

oyster said:

iphonedyou said:

oyster said:

So how do you propose bringing everyone up to your level if you received a big inheritance and someone else received nothing? They have to work hard and you don't.

Ah. So your preferred solution is just to bring everybody else down a peg or two.

Well isn't that lovely.

Notwithstanding, of course, the ridiculous assertion that those receiving an inheritance don't have to work hard, and the obvious inference one is led to draw that they therefore don't.

Edited by iphonedyou on Tuesday 7th July 12:19

For a minute please put aside what I might infer or assert, and answer my question.

As I've said before, I'm not in favour of bringing people down a peg. I'm just intrigued how you give other people a leg up, or even ensure they start with a level playing field.

Life isn't fair you whinging little marxist. Get over it. what you are saying is you are not happy that others parents in most cases, worked harder/ took more risks etc. Maybe your folks were 'content' to plod along but secretly would be happy with penalising others success. Pure student nonsense.

Having voted both UKIP and Tory since I was 18, I must be a fairly unusual Marxist.

In any case I do get your point about life not always being fair, and I completely agree. But upon saying what you're saying, I hope you're never a poster on here who suggests opportunities for those from poor backgrounds are equal to those offered to us rich folk.

As to my own personal financial position, my parents and myself will pay little to no IHT because we continue to donate our wealth to our children.

[jonah35]

Full budget

https://www.gov.uk/government/publications/summer-...