Predictions for 2012
Discussion
turbobloke said:
Did anybody predict record income tax receipts so soon?
No recovery, high earners are paying more including NI.
Mmmnn.. and who will benefit disproportionately - ie. fNo recovery, high earners are paying more including NI.
article said:
Four years after the credit crisis began, the total paid by taxpayers during 2010/2011 increased by 10pc on 2009/10 to more than £447bn, close on the pre-credit crisis peak for total revenues of £451bn in 2007/2008.
In addition to record receipts from income tax, last January's increase in the standard rate of VAT to 20pc boosted returns from £70bn to £85bn.
Changes to National Insurance Contributions (NICs), including doubling the top rate paid by employees with income above £42,484 a year, lifted returns from NICS to nearly £97bn.
Richard Mannion, a director of accountants Smith & Williamson, said: "Taxes have risen while the economy has remained flat and that scenario is likely to be repeated in the current tax year, 2011/12.
"The main factors are the increase in VAT and increases in income tax payable by the better-off, rather than an economic recovery. Total income tax set a new record in 2010/11 which presumably reflects the new 50pc top rate and the loss of personal allowances for better off taxpayers under Pay As You Earn"
http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9013764/Income-tax-payments-hit-record-high-of-153bn.htmlIn addition to record receipts from income tax, last January's increase in the standard rate of VAT to 20pc boosted returns from £70bn to £85bn.
Changes to National Insurance Contributions (NICs), including doubling the top rate paid by employees with income above £42,484 a year, lifted returns from NICS to nearly £97bn.
Richard Mannion, a director of accountants Smith & Williamson, said: "Taxes have risen while the economy has remained flat and that scenario is likely to be repeated in the current tax year, 2011/12.
"The main factors are the increase in VAT and increases in income tax payable by the better-off, rather than an economic recovery. Total income tax set a new record in 2010/11 which presumably reflects the new 50pc top rate and the loss of personal allowances for better off taxpayers under Pay As You Earn"
k all in, loads out? Foreigners* and benefits cheats/scroungers. Great.- refers to foreign aid budgets, inc. the carbon redistribution racket, as well as x00000 incomers allowed to claim all sorts before contributing a bean - not to mention the few £Billion spent to help a select few fight their wars and revolutions.
Edited by Lost_BMW on Sunday 15th January 09:37
turbobloke said:
Did anybody predict record income tax receipts so soon?
No recovery, high earners are paying more including NI.
That can't be right. No recovery, high earners are paying more including NI.
As all of PH knows, the tories have come riding into town on their white horses and as boldly predicted before the last shower of s
te's demise, they're going to make everything shiny and just and righteous. Therefore taxes will be lower, and before you know it everything will miraculously get better. Cos it's the tories, innit?
Or could it be that the bulk of the UK electorate once again bought into an illusion from a muppet who should never have been allowed a platform to spout his (this time blue coloured) deluge of bulls
t?That's what makes me laugh about this place. So f
king sure that all UK plc needed was a change of lying c**t from one colour to the next that you pinned your hopes on the current bunch of c**ts like they were ever going to be any less self-serving and lying than the last lot.Enjoy it though.
Then we can rinse and repeat in 5 or 10 years and the other side can shout "yah boooooooo!"
Jolly japes.
Iranian scientists will keep disappearing.
Iran does something stupid in April, I'll go for missile to ship, or Israeli market bomb
America bomb the fk out of them in may
oil price now c150bucks
in other news italy goes bust in July
euro splits in November
I'd also go for an American school shooting in September
and finally maybe a failed olympic terrorist plot. well shoot someone
Iran does something stupid in April, I'll go for missile to ship, or Israeli market bomb
America bomb the f
k out of them in may oil price now c150bucks
in other news italy goes bust in July
euro splits in November
I'd also go for an American school shooting in September
and finally maybe a failed olympic terrorist plot. well shoot someone
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