FabSwingers.com > Forums > The Lounge > Budget 2012
Budget 2012
Jump to: Newest in thread
 |
By (user no longer on site) OP
over a year ago
|
I'm looking forward to the Budget tomorrow as it'll be interesting to see how far the govt have come in reducing the deficit. I'm sure the usual suspects will get clobbered as that seems to be a party irrespective idealogy but one interesting snippet is that Osbourne plans to reveal exactly where our tax pounds are being spent. I hope he's openly honest about it.
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"politician & honest in the same sentence !!!! Are you mad lololololol   "
Um... yeah... good point.. ok, quick amendment, let's hope he doesn't fib as much as his predecessors.  |
Reply privately, Reply in forum +quote
or View forums list | |
I love the fact that before an election all parties get the countries book done by the treasury. Yet after they get elected they say it worst than they thought. I love to know did they look at the books and if they did why the hell are they not sacking the teasury first and maybe doing the previous government for Fuad.
But on a positive note sure we will all be shafted to make sure MP's pensions and expenses are safe and ring fenced. Government you have to love it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Well I am recording it to watch later so no posts about the budget results please "
my prediction is 2-0 
.
.
.
wireless switched on and warming up here so should be ready in time to listen |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"ha ha ha ha ha
you believe what you read in the sun!!
ha ha ha ha ha ha ha ha "
Are you a Champagne Socialist who reads the Times then?
Newspaper snobbery isn't attractive. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"ha ha ha ha ha
you believe what you read in the sun!!
ha ha ha ha ha ha ha ha
Are you a Champagne Socialist who reads the Times then?
Newspaper snobbery isn't attractive. "
ohhh shit, someone mentioned the 's' word! tut tut  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"Ohh and it will be all labours fault
"
Well the Tories still have a couple of years mileage left in that one, until the next election in 2015 at least. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
exactly !! then whoever gets in next time will blame the Tories for every ill for the next few years....and then whoever gets in....blah blah
I think when they go into politics it is the first thing they learn....always blame the opposition ! |
Reply privately, Reply in forum +quote
or View forums list | |
"i'll tell you whats going to happen!
the poor get poorer.
the rich get tax cuts and get more wealthy...
good job george boy and camelface!"
ooo goody...more money for me to spend then....now wheres that kuoni holiday brochure |
Reply privately, Reply in forum +quote
or View forums list | |
Osbournes plan to show where our taxes are being spent is a brill idea and long overdue.
Who could argue with more tranparency and especially where politicians, taxes, and government are concerned !! |
Reply privately, Reply in forum +quote
or View forums list | |
Personal income tax raised to £9,205 from April 2013, making 24 million people £220 a year better off, including higher rate earners....which is a good move
But 300,000 more people will be drawn into the higher rate - 40% - tax band from 2013/14 as the threshold is reduced from £42,475 to £41,450....which is a bit of a bummer ... |
Reply privately, Reply in forum +quote
or View forums list | |
"Personal income tax raised to £9,205 from April 2013, making 24 million people £220 a year better off, including higher rate earners....which is a good move
But 300,000 more people will be drawn into the higher rate - 40% - tax band from 2013/14 as the threshold is reduced from £42,475 to £41,450....which, if my calculations are right...means they'll be about £200 down ..."
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *umpkinMan
over a year ago
near the sounds of the wimborne quarter jack! |
I for one was extremely pissed off at having to work after 65! Now it`s bloody 70! Not everyone who`s 65+ want`s to keep working and in many cases, are fit enough to keep working. And how about the poor buggers who are much younger and would like to actually get their first job? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
Fuel duty is not changing and will go up in August, only the rich amongst the swingers will be able to afford to swing. Its a knock effect soon swinging and this website will be a thing of the past!
I fucking hate our government. |
Reply privately, Reply in forum +quote
or View forums list | |
"Osbournes plan to show where our taxes are being spent is a brill idea and long overdue.
Who could argue with more tranparency and especially where politicians, taxes, and government are concerned !! "
I'll argue with it! I don't need to see where it's going, it won't change anything, it's still taken out of my pocket.
How much money will it take to implement such a daft, pointless idea I wonder.
More taxes wasted |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"I for one was extremely pissed off at having to work after 65! Now it`s bloody 70! Not everyone who`s 65+ want`s to keep working and in many cases, are fit enough to keep working. And how about the poor buggers who are much younger and would like to actually get their first job? "
It's 68 not 70, but by the time you retire I very much hope compulsory retirement will be abolished altogether and people can choose if they want to stop working or not. They should still recieve their pensions at the recommended retirement age - whatever that is - but not forced by their employer to resign if they don't want to. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"Fuel duty is not changing and will go up in August, only the rich amongst the swingers will be able to afford to swing. Its a knock effect soon swinging and this website will be a thing of the past!
I fucking hate our government. "
Hey, it's only the Tories second budget after an election win. The first two budgets are used to take from people, and the two before the next election are used to give a little bit back to get your vote. 2013 and 2014 Budgets are the ones where fuel duty will be lowered, you'll get better tax breaks in your salary, and road tax will be frozen. Booze & Cigs get hammered every time anyway.
They all do it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *umpkinMan
over a year ago
near the sounds of the wimborne quarter jack! |
"I for one was extremely pissed off at having to work after 65! Now it`s bloody 70! Not everyone who`s 65+ want`s to keep working and in many cases, are fit enough to keep working. And how about the poor buggers who are much younger and would like to actually get their first job?
It's 68 not 70, but by the time you retire I very much hope compulsory retirement will be abolished altogether and people can choose if they want to stop working or not. They should still recieve their pensions at the recommended retirement age - whatever that is - but not forced by their employer to resign if they don't want to."
Granny`s footsteps Wishy! Mark my words! |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"37p added to a packet of fags"
..think they're makin' hay while the sun shine...slowly pricing it out of peoples reach, while still making a tidy profit..
..when its 'safe' to do it, they'll just ban it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"I for one was extremely pissed off at having to work after 65! Now it`s bloody 70! Not everyone who`s 65+ want`s to keep working and in many cases, are fit enough to keep working. And how about the poor buggers who are much younger and would like to actually get their first job?
It's 68 not 70, but by the time you retire I very much hope compulsory retirement will be abolished altogether and people can choose if they want to stop working or not. They should still recieve their pensions at the recommended retirement age - whatever that is - but not forced by their employer to resign if they don't want to.
Granny`s footsteps Wishy! Mark my words!"
I understand what Granny's Footsteps are but not the analogy to what we're discussing??? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"37p added to a packet of fags
..think they're makin' hay while the sun shine...slowly pricing it out of peoples reach, while still making a tidy profit..
..when its 'safe' to do it, they'll just ban it."
That's exactly what I've been saying for a while now. The tipping point will be when more than 50% of smokers have quit since 2007 when the smoking ban comes in, and then they'll outlaw cigarettes. Sure there will be an black market supply of cigs from abroad for a while but that will soon peter out. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
newspaper snobbery isnt all about looking down on other people's choice, its obvious the sun, star, mirror etc are a lot less reliable factually than the independent or guardian for example |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"newspaper snobbery isnt all about looking down on other people's choice, its obvious the sun, star, mirror etc are a lot less reliable factually than the independent or guardian for example"
Thne way that message is put across by some folk IS newspaper snobbery though.
I buy The Sun for it's sports coverage, which is second to none. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
to be fair yes the person's comment earlier was snobbish, i do agree that the sun is bar far the worst newspaper in the country though. fair enough with the sport, I am not really a sports person so i couldnt comment on its credibility on that subject but being a scouser I will never buy the sun out of principle
although i never buy any red tops anyway because i find them full of shite about celebrities, immigrants taking all the jobs and general bullshit |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *abioMan
over a year ago
Newcastle and Gateshead |
"I for one was extremely pissed off at having to work after 65! Now it`s bloody 70! Not everyone who`s 65+ want`s to keep working and in many cases, are fit enough to keep working. And how about the poor buggers who are much younger and would like to actually get their first job?
It's 68 not 70, but by the time you retire I very much hope compulsory retirement will be abolished altogether and people can choose if they want to stop working or not. They should still recieve their pensions at the recommended retirement age - whatever that is - but not forced by their employer to resign if they don't want to."
its 68..... at the moment.... very clever of them to put in the automatic review... which means we are very unlikely not to see it increasing...
also very clever the wording of the "age related" single persons allowances and to get rid of them under "simplification" because before today (its my job to know... but it is always interesting how many people didn't know)
that the over 65's actually had a higher single persons tax allowance... really.... now be honest....
okay... figures time......
because of the way they are going to do it...
those people under 65 for next tax year it is £8105,
those between 65 and 74 it is £10500
those over 75 it is £10700....
so.... the brilliant coalition.. are freezing the allowances for those over 65, until the ones under 65 catch up...
so... 1 year...2013...£9205
and... 2 years...2014...£10000
and... 3 years... 2015...£10700-ish
gotta love the fine print... obviously pensions go up.. but the allowances are not... so people will go over them... and wheyhey...20% to mr tax man!!!!!
 |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
Very glad I quite smoking a while ago now!
Budget was pretty much what was suspected, rubbish to everyone, unless you earn over £150,000 and don't plan on moving. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Very glad I quite smoking a while ago now!
Budget was pretty much what was suspected, rubbish to everyone, unless you earn over £150,000 and don't plan on moving."
+1 |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"although i never buy any red tops anyway because i find them full of shite about celebrities, immigrants taking all the jobs and general bullshit"
Page 3 is worth a 5 second ogle then it's straight to the back pages for the sport. The rest of is just padding as far as I'm concerned. Tried reading the Sunday Times once but it took me until June to finish it and I started in February. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
Overall this Budget was nothing spectucular at all. A very run of the mill affair with a few perks for those who don't really need them and a few for those who could do with a few more.
The boon for small businesses is welcome though but tbh most small businessmen will pay themselves a low salary and nice divi taxed lower than 24% and expense most of the profits so the reduction is corp tax won't have much affect really. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
The biggest mistake was delaying the top rate change a year (second biggest was changing it in the first place but that's a different argument)
The majority of the money it earns is from people who earn an awful lot more than 150,000 and they tend to be paid in shares and other none cash means which they can defer a year to wait for the change depriving the treasury of this years tax receipts
Probably a cunning plan because then Osbourne can claim it brings in no money and we get a bumper tax receipt in 2013 in time for him to give away loads of money for the run up to the elections 2 years later |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"The biggest mistake was delaying the top rate change a year (second biggest was changing it in the first place but that's a different argument)
The majority of the money it earns is from people who earn an awful lot more than 150,000 and they tend to be paid in shares and other none cash means which they can defer a year to wait for the change depriving the treasury of this years tax receipts
Probably a cunning plan because then Osbourne can claim it brings in no money and we get a bumper tax receipt in 2013 in time for him to give away loads of money for the run up to the elections 2 years later"
And that's politics. I've seen chancellor after chancellor do it. Interest rates will remain low right up until 2015 as raising them too high too fast will kill any green shoots of recovery but you can bet your bottom dollar that whoever the chancellor will be in 3 years time will have that card tucked safely up his sleeve waiting to play it.
Any screw up by the Treasury over the next two to three years will plunge us straight back into full blown recession which is the main reason this Budget was a bit of a nothing budget. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *waymanMan
over a year ago
newcastle |
"Osbournes plan to show where our taxes are being spent is a brill idea and long overdue.
Who could argue with more tranparency and especially where politicians, taxes, and government are concerned !! "
No it's not. ONS have published figure for years on where taxes are spent. Osborne's idea is patronizing bullshit. |
Reply privately, Reply in forum +quote
or View forums list | |
A real budget for families as of 1st jan 2013 we lose £1752.40 child benefit just like that. But unfortunately we don’t get to the £150000 that a lot of MPs do to get anything back from the 45p tax change. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"A real budget for families as of 1st jan 2013 we lose £1752.40 child benefit just like that. But unfortunately we don’t get to the £150000 that a lot of MPs do to get anything back from the 45p tax change."
Make some sacrifices then. The less well off need govt money more than you do. |
Reply privately, Reply in forum +quote
or View forums list | |
"A real budget for families as of 1st jan 2013 we lose £1752.40 child benefit just like that. But unfortunately we don’t get to the £150000 that a lot of MPs do to get anything back from the 45p tax change.
Make some sacrifices then. The less well off need govt money more than you do."
How do you know what we need!!! I know lets just punish all of those people who have tried to better themselves. I Agree more should be done for the low paid but it should be at the expense of Cameron’s mates who earn millions and pay nothing, not those who work hard for a better life. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"A real budget for families as of 1st jan 2013 we lose £1752.40 child benefit just like that. But unfortunately we don’t get to the £150000 that a lot of MPs do to get anything back from the 45p tax change.
Make some sacrifices then. The less well off need govt money more than you do.
How do you know what we need!!! I know lets just punish all of those people who have tried to better themselves. I Agree more should be done for the low paid but it should be at the expense of Cameron’s mates who earn millions and pay nothing, not those who work hard for a better life."
I don't know what you need but if you're going to lose £1,752.40 per child I know roughly what your household income is, and there are a lot lot more people who don't have half of what you've got who need the few extra pounds of child benefit more than you do.
It's got nothing to do with the rich, it's about being fair where child benefit is concerned and you don't need it as much as others do. |
Reply privately, Reply in forum +quote
or View forums list | |
"A real budget for families as of 1st jan 2013 we lose £1752.40 child benefit just like that. But unfortunately we don’t get to the £150000 that a lot of MPs do to get anything back from the 45p tax change.
Make some sacrifices then. The less well off need govt money more than you do.
How do you know what we need!!! I know lets just punish all of those people who have tried to better themselves. I Agree more should be done for the low paid but it should be at the expense of Cameron’s mates who earn millions and pay nothing, not those who work hard for a better life.
I don't know what you need but if you're going to lose £1,752.40 per child I know roughly what your household income is, and there are a lot lot more people who don't have half of what you've got who need the few extra pounds of child benefit more than you do.
It's got nothing to do with the rich, it's about being fair where child benefit is concerned and you don't need it as much as others do. "
Well if you think £1752 is a few pounds you must be looking forward to your 45% tax bill |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *els_BellsWoman
over a year ago
with the moon n stars somewhere in gtr manc |
the only thing I noticed is 37p on fags!!! ffs man! bloody ex smokers  (btw, I have no idea if Cammie or Georgey Oz are ex smokers)
and this post needs a tongue in cheek smiley purrrrlease |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *waymanMan
over a year ago
newcastle |
"newspaper snobbery isnt all about looking down on other people's choice, its obvious the sun, star, mirror etc are a lot less reliable factually than the independent or guardian for example
Thne way that message is put across by some folk IS newspaper snobbery though.
I buy The Sun for it's sports coverage, which is second to none."
Amusingly, the Sun was notorious for decades for having the worst sports coverage of any national paper. Because it only printed in London the Northern editions used to be on the vans before midweek soccer games were even finished, so it never had the results.
That was why its sports pages were much more gossipy and much less newsy than anyone else's. Even when they acquired print capacity in the North they stayed with the gossipy style that depends on good contacts between reporters and managers of soccer teams - and increasingly with agents.
The idea that that constitutes good sports coverage is alien to me... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"Amusingly, the Sun was notorious for decades for having the worst sports coverage of any national paper. Because it only printed in London the Northern editions used to be on the vans before midweek soccer games were even finished, so it never had the results.
That was why its sports pages were much more gossipy and much less newsy than anyone else's. Even when they acquired print capacity in the North they stayed with the gossipy style that depends on good contacts between reporters and managers of soccer teams - and increasingly with agents.
The idea that that constitutes good sports coverage is alien to me..."
I grew up in the south and had never been to Newcastle until 2007 so I have no knowledge or experience of what The Sun printed for northern readers. All I knew back then is that the football reporting was up to date and written by good writers, for what I was reading it for. It still is. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"Well if you think £1752 is a few pounds you must be looking forward to your 45% tax bill"
If I earned enough money to be in the 45% tax bracket I wouldn't give a stuff about child benefit, or any other sort of benefit. I'd be too busy relaxing in Martinique.
For the record, I don't think any household with a total income of over £60k should get any form of govt benefit at all. George has limited it to one person earning £60k though so that's something for the middle classes. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *els_BellsWoman
over a year ago
with the moon n stars somewhere in gtr manc |
"
For the record, I don't think any household with a total income of over £60k should get any form of govt benefit at all. George has limited it to one person earning £60k though so that's something for the middle classes."
I know I joked about fags going up, but my household are and possibly will struggle, but probably not as much as those who are classed below the 'breadline' which classes them as being in poverty and it was meant to be one of the major issues to be tackled by either governments.
I honestly admit to not totally understanding the governments and their budgets, but I think they do need to tackle poverty at home first before spending outside their own country.
Sorry if I offended, and yes I do support Live Aid, Comic Relief, CAFOD etc. But I do think the Government should look at poverty at home first, and then if there is anything left over give to other nations.
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
Just thought I'd offer some clarification on the so called higher earners being helped by the Tories.
I don't know if most people are aware but there is a limit on how much one can earn without losing one's personal tax allowance, and that's £100k, at which point you lose your allowance altogether.
So let's take a single person earning exactly £150,000 per annum.
As of 2012/13, that person will pay in tax:
20% up to £34,370
40% from £34,371 - £150,000
45% from £150,001+
So, at the 20% tax band he/she will pay £6,874 in tax, and at the higher 40% tax band he/she will pay £46,252 in tax, a combined total of £53,126.
That's more money paid in income tax than the limit under which the majority of people can claim child benefit.
I hardly think George has done the rich too many favours because let's not forget, that same £150k earner won't get any child benefit at all. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
...and he/she will still have to pay National Insurance on the whole amount, which at the current rate of 12% amounts to an additional £18,000 to the Treasury for £150,000 per annum. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *abioMan
over a year ago
Newcastle and Gateshead |
"Just thought I'd offer some clarification on the so called higher earners being helped by the Tories.
I don't know if most people are aware but there is a limit on how much one can earn without losing one's personal tax allowance, and that's £100k, at which point you lose your allowance altogether.
So let's take a single person earning exactly £150,000 per annum.
As of 2012/13, that person will pay in tax:
20% up to £34,370
40% from £34,371 - £150,000
45% from £150,001+
So, at the 20% tax band he/she will pay £6,874 in tax, and at the higher 40% tax band he/she will pay £46,252 in tax, a combined total of £53,126.
That's more money paid in income tax than the limit under which the majority of people can claim child benefit.
I hardly think George has done the rich too many favours because let's not forget, that same £150k earner won't get any child benefit at all."
actually... can i put you right on some of your figures....
the taxable figures are those on top of your single persons tax allowance...
so you don't start paying 40% till you earn £43,576........
at 100k, Personal Allowance reduces where the income is above £100K by £1 for every £2 of income above the £100,000 limit.....
it is then when you get to £150k... where the tax cut then comes in..... from 50p to 45p...... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *abioMan
over a year ago
Newcastle and Gateshead |
"...and he/she will still have to pay National Insurance on the whole amount, which at the current rate of 12% amounts to an additional £18,000 to the Treasury for £150,000 per annum."
and this isn't quite true either.....
it would depend on what type of national insurance is being paid....
this is where it gets a bit complicated... my job to know this though... lol
if it is class 1 (an employee)... then you don't pay any NI until you reach £7000 per year, then in is charged at 12% for those earning between £107 and £817 per week (£42,484).... then on anything above £817 per week (£42,484) and addition 2% is charged....
if it is class 2 (self employed)... then it is a flat rate of £2.60 per week is charged.... however they then take 9% on any profits between £7600 and £42,500 per year.... and if profits are above £42,500 then an extra 2% is taken..... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
I could have worked all that out from the figures on the HM Customs website but it would have made the post overly long so I stuck to normal Class 1 Employer's rate of 12% |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *abioMan
over a year ago
Newcastle and Gateshead |
"Figures derived from http://www.hmrc.gov.uk/rates/it.htm
I assume they know the correct rates."
they are the correct rates.. the way you applied them was slightly wrong..... lol
the key words being "taxable income" which doesn't take into account the single persons tax allowance |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
Hold on a sec, if the rates are worded correctly it says "Upper limit for personal allowance: £100k"
Having a relatively decent understanding of English that seems to say to me that if you earn above £100k you forfeit all of you personal allowance, else it would just be an additional form of tax relief, but it doesn't say that. It doesn't say, "you keep £8,105 below 100k". |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *abioMan
over a year ago
Newcastle and Gateshead |
"Hold on a sec, if the rates are worded correctly it says "Upper limit for personal allowance: £100k"
Having a relatively decent understanding of English that seems to say to me that if you earn above £100k you forfeit all of you personal allowance, else it would just be an additional form of tax relief, but it doesn't say that. It doesn't say, "you keep £8,105 below 100k"."
nope.... read the small print underneath.....
okay to make this understandable...
bearing in mind you are talking about figures for april 2013....
for those earning up to 100K
no tax being paid.... £0-£9,205 per year
20% tax rate then starts being appiled on earnings between £9,205-£43,576
40% tax rate starts being applies on earning between £43,576-£100,000
simple enough so far..... right
once you get to £100,000, your single persons tax allowance (£9205) starts to decrease by £1 for every £2 you go over this.... so by the time you get to £118,410... you don't get any single person tax allowance at all
which is why it is tabled as such...
then what you put was correct was correct between £118,410 and £150,000, and then from £150,000 is where the cut comes in..... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
Ok, fair comment re the £1 for £2 bit, I missed that, but I can't find the £43,576 you're referring to unless you're adding the personal allowance of £9,205 (as of next April) to the 40% lower limit of £34,371, which gives you £43,576. But it's not applied like that is it as you become a 40% tax payer at £34,371, not £43,576. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *abioMan
over a year ago
Newcastle and Gateshead |
"Ok, fair comment re the £1 for £2 bit, I missed that, but I can't find the £43,576 you're referring to unless you're adding the personal allowance of £9,205 (as of next April) to the 40% lower limit of £34,371, which gives you £43,576. But it's not applied like that is it as you become a 40% tax payer at £34,371, not £43,576."
no.. see you become a 40% tax payer once your "taxable income" reaches £34,371... the single persons tax allowance is not classed as taxable income if you earn under 100K
so £9,205(which is free)+ £34,371 = £43,576 |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"Ok, fair comment re the £1 for £2 bit, I missed that, but I can't find the £43,576 you're referring to unless you're adding the personal allowance of £9,205 (as of next April) to the 40% lower limit of £34,371, which gives you £43,576. But it's not applied like that is it as you become a 40% tax payer at £34,371, not £43,576.
no.. see you become a 40% tax payer once your "taxable income" reaches £34,371... the single persons tax allowance is not classed as taxable income if you earn under 100K
so £9,205(which is free)+ £34,371 = £43,576 "
Ah! Why the fook don't they make that clearer then. To us normal people it reads £34,371-£150,000 |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *abioMan
over a year ago
Newcastle and Gateshead |
anyway... they still took away from pensioners and gave it to millionaires...
if it is one lot of people I wouldn't have pissed of its granny and grandad.... they have long memories....... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"anyway... they still took away from pensioners and gave it to millionaires...
if it is one lot of people I wouldn't have pissed of its granny and grandad.... they have long memories....... "
Guess who'll be getting a nice little tax break in the 2014 Budget?
Clever boy George. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"ha ha ha ha ha
you believe what you read in the sun!!
ha ha ha ha ha ha ha ha
Are you a Champagne Socialist who reads the Times then?
Newspaper snobbery isn't attractive. "
Well if you don't like snobbery you are supporting the wrong political party. You are a tradesman I believe which means you are lower class, or if you prefer that most ludicrous of polite/hypocritical British euphemisms 'working class'. Moreover, you are a Northerner. Try going to a gathering of Conservative Party supporters who really do know what it stands for, rather than just think they do -.Ascot , Henley Regatta or a meeting of the Monday Club for examples- and see how they treat you. Remember what Hobbes, one of the gurus of British Conservatism said about the life of 'the common man'; 'nasty, brutish and short'. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"ha ha ha ha ha
you believe what you read in the sun!!
ha ha ha ha ha ha ha ha
Are you a Champagne Socialist who reads the Times then?
Newspaper snobbery isn't attractive.
Well if you don't like snobbery you are supporting the wrong political party. You are a tradesman I believe which means you are lower class, or if you prefer that most ludicrous of polite/hypocritical British euphemisms 'working class'. Moreover, you are a Northerner. Try going to a gathering of Conservative Party supporters who really do know what it stands for, rather than just think they do -.Ascot , Henley Regatta or a meeting of the Monday Club for examples- and see how they treat you. Remember what Hobbes, one of the gurus of British Conservatism said about the life of 'the common man'; 'nasty, brutish and short'."
That kind of judgemental claptrap is dangerous when you don't know as much about me as you think.
For example, I was born in Chelsea and raised in the south. I live in the north because that's where my wife comes from.
I've stood for the LibDems, voted for Labour and now settled on the Conservatives, so I think I can call myself informed. I read The Sun for the sports section (as mentioned countless times on here) but have also read the Mail (cunt of a depressing paper), The Telegraph (so far up it's own arse I'm surprised it isn't printed on brown paper with bits of carrot stuck to it), The Times (thinks it's still 1820 and at the height of the Empire) - once read The Mirror in a Dr's waiting room but laughed so much the other patients thought I was nuts, and have wanked over a nice bird in the Sport when I was a lot younger.
Am I allowed to read what I want to read without being pigeon-holed now? Gee, ta. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *UNCHBOXMan
over a year ago
folkestone |
It seems as though Cameron is stopping the tax loophole that has allowed people to have income paid through a service company and only pay company tax of 20% rather than 40% or 45% which you would if you were a PAYE employee.
Its not before time the government cracked down on people not paying the same as everyone else who is on PAYE has to, by creating front company that doesnt actually do anything. Footballers are very clever at doing this sort of thing with income that comes from stuff like image rights.
|
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
