2025 - Labour budget predictions

[pheonix478]

TA14 said:

pheonix478 said:

jshell said:

Not to brag, but my V12 DB11 costs £195/yr.

Glorious! But how come it's so cheap?

Post March 2017; 29 for sale on AT atm: https://www.autotrader.co.uk/car-search?channel=ca...

If the back seats were just a tiny bit bigger, I'd have one in a heartbeat. Still dont understand the road tax though. I thought that was up to a 40k list price ? If the 40 year rule stays 4 of my cars should become tax free by 2030 .

[pheonix478]

CallMeLegend said:

....

Hopefully they will target the super high value properties, i.e., those that can most likely afford an increase/

Firstly the same price/income dynamic will be true for many of them as for you. Secondly, there aren't enough of them to make any difference. Thirdly, the answer isnt more tax, its less spending; once theyve spent that, theyll be after you.

[Crumpet]

pheonix478 said:

TA14 said:

pheonix478 said:

jshell said:

Not to brag, but my V12 DB11 costs £195/yr.

Glorious! But how come it's so cheap?

Post March 2017; 29 for sale on AT atm: https://www.autotrader.co.uk/car-search?channel=ca...

If the back seats were just a tiny bit bigger, I'd have one in a heartbeat. Still dont understand the road tax though. I thought that was up to a 40k list price ? If the 40 year rule stays 4 of my cars should become tax free by 2030 .

After five years the luxury car premium drops off. What’s also a bonus is that they’re dirt cheap to insure as well, mine was £400 per year. If you’re that way inclined you can squeeze out 30mpg on a run as well! (Although I think I averaged about 15). You could almost class them as economical to run!

What’s not so economical is when they go wrong….ask me how I know!

[M1AGM]

pheonix478 said:

If the back seats were just a tiny bit bigger, I'd have one in a heartbeat. Still dont understand the road tax though. I thought that was up to a 40k list price ? If the 40 year rule stays 4 of my cars should become tax free by 2030 .

Introduced in 2017, the Expensive Car Supplement (ECS) imposes an additional Vehicle Excise Duty (VED) of £425 annually for five years on vehicles with a list price exceeding £40,000.

The £195 is the underlying rate of when that 5 years has expired and the £425 is no longer payable.

[worsy]

M1AGM said:

pheonix478 said:

If the back seats were just a tiny bit bigger, I'd have one in a heartbeat. Still dont understand the road tax though. I thought that was up to a 40k list price ? If the 40 year rule stays 4 of my cars should become tax free by 2030 .

Introduced in 2017, the Expensive Car Supplement (ECS) imposes an additional Vehicle Excise Duty (VED) of £425 annually for five years on vehicles with a list price exceeding £40,000.

The £195 is the underlying rate of when that 5 years has expired and the £425 is no longer payable.

Another fiscal drag example. 40k in 2017 would be worth just under 54k now.

[KingNothing]

Paddymcc said:

J210 said:

Apparently they want to charge EV s a 3ppm tax from 2028.

It s almost like they don t want people to drive.

I wonder how you would even start to check and record this.

You've a 3yr or 4yr wait for the first MOT and then i suppose they could check them yearly at MOT time.

Change it so cars under 3 years old need, an "MOT in name only" every year after registration where the only thing that's tested is if the odometer is working and what it's reading, and charge people the normal MOT fee as well most likely for that extra kick in the nuts, wouldn't put it past them.

[bmwmike]

Gov will require manufacturers to send odo telemetry to a big beautiful database linked to your identity card wallet and charge accordingly, subscription roads baby.

Edited by bmwmike on Friday 7th November 14:49

[TA14]

M1AGM said:

Introduced in 2017, the Expensive Car Supplement (ECS) imposes an additional Vehicle Excise Duty (VED) of £425 annually for five years on vehicles with a list price exceeding £40,000.

The £195 is the underlying rate of when that 5 years has expired and the £425 is no longer payable.

Six years

Year one plus five years of taper.

[confused_buyer]

kiethton said:

But I doubt that'll have 2% taken off it (going to 0%) when she lowers the 8% to 6% and then 2% goes onto every tax rate, with frozen thresholds...

The Telegraph are reporting today that's exactly what will happen. 2% off NI under the UEL (i.e. down to 6%) but the 2% remaining above the UEL.

And 2p on each income tax band. If you earn over the £50k you are not "a working person" it seems.

[TA14]

KingNothing said:

Paddymcc said:

J210 said:

Apparently they want to charge EV s a 3ppm tax from 2028.

It s almost like they don t want people to drive.

I wonder how you would even start to check and record this.

You've a 3yr or 4yr wait for the first MOT and then i suppose they could check them yearly at MOT time.

Change it so cars under 3 years old need, an "MOT in name only" every year after registration where the only thing that's tested is if the odometer is working and what it's reading, and charge people the normal MOT fee as well most likely for that extra kick in the nuts, wouldn't put it past them.

Easier to just add an average of £210pa to the first tax disc so that would be £10 + £630 = £640. Some cars have to pay £5,490!

[Rufus Stone]

confused_buyer said:

The Telegraph are reporting today that's exactly what will happen. 2% off NI under the UEL (i.e. down to 6%) but the 2% remaining above the UEL.

And 2p on each income tax band. If you earn over the £50k you are not "a working person" it seems.

Not all working people pay NI.

Say you have two part time jobs each paying £12,000 pa. No NI discount but higher income tax.

[TA14]

Rufus Stone said:

confused_buyer said:

The Telegraph are reporting today that's exactly what will happen. 2% off NI under the UEL (i.e. down to 6%) but the 2% remaining above the UEL.

And 2p on each income tax band. If you earn over the £50k you are not "a working person" it seems.

Not all working people pay NI.

Say you have two part time jobs each paying £12,000 pa. No NI discount but higher income tax.

Whatever you do it will affect different people differently and there are various ways to look at the situation. For example there's no need to push the top two bands up to make sure that we all contribute since those people already pay the 20% band.

[madbadger]

TA14 said:

madbadger said:

TA14 said:

pheonix478 said:

jshell said:

Not to brag, but my V12 DB11 costs £195/yr.

Glorious! But how come it's so cheap?

Post March 2017; 29 for sale on AT atm: https://www.autotrader.co.uk/car-search?channel=ca...

But maybe don't buy one with the aim to save a bit of money.

It is a nice bonus though.

Agreed.

The TVR is classed as PLG so while it should be around the top £500 band it has always been much cheaper. The first few years I had it £120ish. bds have spotted that one now though and it is a frankly outrageous £360 now.

[KingNothing]

TA14 said:

KingNothing said:

Paddymcc said:

J210 said:

Apparently they want to charge EV s a 3ppm tax from 2028.

It s almost like they don t want people to drive.

I wonder how you would even start to check and record this.

You've a 3yr or 4yr wait for the first MOT and then i suppose they could check them yearly at MOT time.

Change it so cars under 3 years old need, an "MOT in name only" every year after registration where the only thing that's tested is if the odometer is working and what it's reading, and charge people the normal MOT fee as well most likely for that extra kick in the nuts, wouldn't put it past them.

Easier to just add an average of £210pa to the first tax disc so that would be £10 + £630 = £640. Some cars have to pay £5,490!

When has it ever been a governments operating practice to do anything easily?

[macron]

Goodbye 62% tax trap.




Hello 65%!!!!!!

https://archive.ph/kq8c5

[andy43]

macron said:

Goodbye 62% tax trap.




Hello 65%!!!!!!

https://archive.ph/kq8c5

They appear to have inadvertantly stated that this will affect 'workers' in that article.
Clearly not the case - workers are not affected - as advertised in the manifesto and Every Single Interview since.

[Dicky Knee]

andy43 said:

macron said:

Goodbye 62% tax trap.




Hello 65%!!!!!!

https://archive.ph/kq8c5

They appear to have inadvertantly stated that this will affect 'workers' in that article.
Clearly not the case - workers are not affected - as advertised in the manifesto and Every Single Interview since.

I was talking to my neice about the 62% rate yesterday as she gets caught by it. She has found a solution, she is moving to Singapore.

[Slow.Patrol]

Rumours of the two children cap being lifted for child benefit.

Here's a thought, why not make child benefit a tax allowance.

[Carl_VivaEspana]

The quadruple november screwjob is still in play.

The dividend tax alignment has been posted as a rumour , for the first time during this silly season.

[M1AGM]

Slow.Patrol said:

Rumours of the two children cap being lifted for child benefit.

Here's a thought, why not make child benefit a tax allowance.

I like it. You saying the more kids you have the more allowance you get? Only benefits those who declare their income, good. ‘Fiscally prudent shagging’ is definitely a new angle of approach with her indoors. Whats not to like.

I absolutely think removing the cap will make a positive difference to some children’s lives, but for the majority it will just be more free money paid for by the few mugs left. Pity no government wants to do the hard yards and actually tackle poverty with a 360 approach around addiction, abuse and crime. Much easier to throw other people’s money at it and pat each other on the back.