Wez Posted November 24, 2008 Share Posted November 24, 2008 I bet the 2p rise on fuel duty gets slipped in at the same time as the VAT cut .... He just slipped it in ... f#cker ! Is this right? Quote Link to comment Share on other sites More sharing options...
monsween Posted November 24, 2008 Share Posted November 24, 2008 I hate the fact that i worked hard through school and uni just to be taxed some more. 40% is too much imho. I started out in a low income family and have worked hard for what i have now. Quote Link to comment Share on other sites More sharing options...
Wez Posted November 24, 2008 Share Posted November 24, 2008 I do agree that the jump from £40k to £150k is to far apart, it should be something like £75-80k for 40%. Quote Link to comment Share on other sites More sharing options...
Gazboy Posted November 24, 2008 Share Posted November 24, 2008 He just slipped it in ... f#cker ! Little ****** So petrol has actually gone up. Quote Link to comment Share on other sites More sharing options...
The Raven Posted November 24, 2008 Share Posted November 24, 2008 Good news for me they just chucked another 100million into the insulation grants. Vat wll help me buying the bits i need. ASSHOLES for the fuel rise Quote Link to comment Share on other sites More sharing options...
Gazboy Posted November 24, 2008 Share Posted November 24, 2008 NI contributions up 0.5% On the income tax thing, if you earn £100k the untaxed part of your income has been reduced, and if you earn over £140k you pay IT straight away with all of it taxed. Quote Link to comment Share on other sites More sharing options...
Fire148 Posted November 24, 2008 Share Posted November 24, 2008 NI contributions up 0.5% On the income tax thing, if you earn £100k the untaxed part of your income has been reduced, and if you earn over £140k you pay IT straight away with all of it taxed. None of the above until after the next election ... so none of it will happen. Quote Link to comment Share on other sites More sharing options...
Wez Posted November 24, 2008 Share Posted November 24, 2008 NI contributions up 0.5% Hang on, so they have taken 2.5% off VAT which will only benefit me if I go out spending more money which I dont plan on doing, but they are robbing another 0.5% from workers/tax payers for NI? Quote Link to comment Share on other sites More sharing options...
Gazboy Posted November 24, 2008 Share Posted November 24, 2008 None of the above until after the next election ... so none of it will happen. You're assuming they won't win another term. If they don't win then I can't see the Tories doing more than one term as their policies will be incredibly unpopular when they try to fix this mess. Quote Link to comment Share on other sites More sharing options...
Fire148 Posted November 24, 2008 Share Posted November 24, 2008 You're assuming they won't win another term. If they don't win then I can't see the Tories doing more than one term as their policies will be incredibly unpopular when they try to fix this mess. I agree, and would not want to be on their shoes ... the next 6 years are going to be a minefield for politics. I dont think I will notice the 2.5% cut which really equates to 2p in the pound on what you spend ... instead of a £1, its 98p ... I won't be spending the 2p change on anything and it will jsut go in my coppers jar ... How this helps the economy I cant see ... Why on earth did they just not help the banks lend, and spend a bit more on tax credits ... i.e. where the money is really noticed. Quote Link to comment Share on other sites More sharing options...
Gazboy Posted November 24, 2008 Share Posted November 24, 2008 He did, he loaned them £500bn. They are now not passing that money on. Quote Link to comment Share on other sites More sharing options...
TLicense Posted November 24, 2008 Share Posted November 24, 2008 Bad call! It was a genuine question actually. No-one I know has so far been adversely effected. For me personally, I've not been hit by any negatives, apart from as Wes has said they've just increased N.I. by 0.5%. I guess I'm a lucky minority that works for a company based in the right part of the world, earns the right amount of money that hasn't been hit by tax increases, can take advantage of a reduction in the mortgage payments I'm making and can travel from a to b cheaper because the price of petrol has dropped by 40p over the last couple of months. I'd be genuinely surprised if the vast deomgraphic of Supra owners didn't fall into a similar boat in at least one of those area's if not more. Quote Link to comment Share on other sites More sharing options...
hogmaw Posted November 24, 2008 Share Posted November 24, 2008 I dont think I will notice the 2.5% cut which really equates to 2p in the pound on what you spend ... instead of a £1, its 98p ... I won't be spending the 2p change on anything and it will jsut go in my coppers jar ... How this helps the economy I cant see ... It helps companies with their cashflow. If you have a monthly spend of say £50k including vat, then it will be reduced by over a grand, which can be spent elsewhere. Quote Link to comment Share on other sites More sharing options...
Gaz Walker Posted November 24, 2008 Author Share Posted November 24, 2008 Hmm... some interesting measures. Happy the VED has been deferred. The VAT thing was a given, 13 months is horrible though as everyones prices are going to have to be revised twice in a year. Putting the duty up on fuel - the absolute t0ssers. They should be reducing it further still even with the VAT cut as we are still crippled by duty on fuel compared to other nations. Like others have said, this whole country relies on fuel, the reduction here alone would make a significant difference to everyones costs. Short term has been good in the markets - however I am extremely worried that the Sterling will be devalued yet further in coming weeks/months/years, which for us particularly is a concern. Gaz. Quote Link to comment Share on other sites More sharing options...
TLicense Posted November 24, 2008 Share Posted November 24, 2008 Thinking about the 0.5% increase in N.I. verses a 2.5% cut in VAT... It's actually quite a clever trick by them. The only people who will be hit by it are the people who are trying to save money. Which is what the government doesn't want at the moment, they want people to spend it, thus getting the cash back into the economy. Again, I'm in the apparent lucky minority of people who spends pretty much all they earn each month, so overall I'm still "up". I'm sure there are others in the same boat... Quote Link to comment Share on other sites More sharing options...
Gaz Walker Posted November 24, 2008 Author Share Posted November 24, 2008 It's actually quite a clever trick by them. (Although I should add not what people want!!!) Are you trying to say they are not as stupid as they look Tony Quote Link to comment Share on other sites More sharing options...
Thorin Posted November 24, 2008 Share Posted November 24, 2008 Again, I'm in the apparent lucky minority of people who spends pretty much all they earn each month, so overall I'm still "up". I'm sure there are others in the same boat... My boat's leaking! Quote Link to comment Share on other sites More sharing options...
ivan Posted November 24, 2008 Share Posted November 24, 2008 I dont think thats entirely true. Most people that earn 150K deserve to earn that kinda money. They havnt started on it, they worked at it. You also dont get paid that much to sit around, you have responsibity etc etc. Yes they get more money but its unfair in my opinion.What a load of cobblers. I've known many high earners in my time and would say that, apart from company directors who have a personal financial interest in their company, the majority don't work any harder than anyone else in the company. They're just good at getting everyone else to work for them! PLUS, they're in an ideal position to bend the rules and dodge the taxman (company car rules etc). Which I've seen them do on many occasion. Woohoo! So if i now go out and spend £1150, I've saved £25 on something that, yesterday would have cost me £1175! Bargain - I'm off to do some shopping!!!I'm betting that the VAT cut won't get passed on to consumers. Can you honestly see those items attractively priced at £9.99 etc changing? They'll just up the pre-VAT price to make the .99 tag work again. Quote Link to comment Share on other sites More sharing options...
Digsy Posted November 24, 2008 Share Posted November 24, 2008 Share the wealth. I pay more tax net than someone earning less than me, so I'm sharing my wealth to them. If you earn a LOT more then you pay a LOT more tax, that's fair. Disproportionately more, though? I bet the people earning less that you would support a tax hike for you, as well. Are their views any less valid? If you carry on what you are sayiong then you would logically come to a point where it was literally pointless in working any harder, because the majorty of any additional income would be taxed away. Based on the fact they have more money maybe? If you own a 500k house you are more able to survive than if you own a 90k flat above a shop. Also the people with the 500k house are probably older and have less of a mortgage owing, are in positive equity etc and the poorer half have a FAR smaller net should their outgoings suddenly change. …so if the justification for taxing someone who is "more stable" is because they have more money, then taking that extra money away through increased taxation will only make them less stable, won't it? Presumably these people with £500k houses will then have to sell said houses and buy smaller in order to "survive" (no, I don't buy the "probably older and less mortage owing" bit - I reckon most properties that size are tied up in businesses or some such, with plenty outstanding). If you're talking about surviving, well I reckon we could all - you and I included - survive on a shedload less than we bring in right now. That's the thing about incentives again, though isn't it? If all we want to do is survive, then we would all be on the benefit. I don’t see how what you are saying is any different from "people who earn more than me should pay more tax, but from me downwards its all fair". Ask someone who is on minimum wage or someone who is on £150k and I'll bet they all say the same thing. Quote Link to comment Share on other sites More sharing options...
monsween Posted November 24, 2008 Share Posted November 24, 2008 What a load of cobblers. I've known many high earners in my time and would say that, apart from company directors who have a personal financial interest in their company, the majority don't work any harder than anyone else in the company. They're just good at getting everyone else to work for them! Well you generally dont get handed a company and become a company director. The person worked damn hard to either build a company to where it is or progressed through it to where he/she is. So what about the people that earn say 40K-80K Should they have to pay the same percentage of tax as 150K. I really dont think so. Im totally against the 40% salary limit. I'd quite like to know when these were introduced. I mean people are generally earning more these days. Why not have a more intermediate structure say 30% for 40-80K and 35% - 100K etc etc. I do understand that people on higher incomes CAN afford to pay more towards the country but not to the extent thats already happening Quote Link to comment Share on other sites More sharing options...
hogmaw Posted November 24, 2008 Share Posted November 24, 2008 Oh my heart bleeds. Those poor old souls who worked so, so hard to earn their £150,000 per year will have to pay a bit more tax. That means if they earn £200,000 they will have to pay another 5 grand. OUCH now that's going to HURT. [sarcasm mode off] Try telling that to the real workers of this country, the nurses, the firemen and the small business owners who work just as hard and are just as vital, yet aren't in the money-making business. Not everyone is greedy and driven by earning more cash than can be spent, so why not spend some of that on tax. We have to get the tax from somewhere! Quote Link to comment Share on other sites More sharing options...
extendor Posted November 24, 2008 Share Posted November 24, 2008 Oh my heart bleeds. Those poor old souls who worked so, so hard to earn their £150,000 per year will have to pay a bit more tax. That means if they earn £200,000 they will have to pay another 5 grand. OUCH now that's going to HURT. [sarcasm mode off] Try telling that to the real workers of this country, the nurses, the firemen and the small business owners who work just as hard and are just as vital, yet aren't in the money-making business. Not everyone is greedy and driven by earning more cash than can be spent, so why not spend some of that on tax. We have to get the tax from somewhere! Thankyou. Its about time someone thought about how undervalued the small business is. Small business is the lifeblood of this country. Quote Link to comment Share on other sites More sharing options...
Fire148 Posted November 24, 2008 Share Posted November 24, 2008 So the real unanswered question here has to be 'How do we take advantage of the tax changes now, such that the future increases will be less of a burden ?' e.g. Buy everything you want this year and next year, but nothing after that ... Use the low interest rates to minimise your debts before the interest rates go back up ... Reduce your monthly outgoings so you can pay more into your pension tax free ... Invest as much as you can in the stock market over the next year or so as its bound to rise by at least 25% ... Start as many new businesses as you can as you can now defer paying your tax liabilities ... Any other ideas.... ? Quote Link to comment Share on other sites More sharing options...
TLicense Posted November 24, 2008 Share Posted November 24, 2008 Thankyou. Its about time someone thought about how undervalued the small business is. Small business is the lifeblood of this country. I sense we have a small business owner in our midst! Quote Link to comment Share on other sites More sharing options...
extendor Posted November 24, 2008 Share Posted November 24, 2008 I sense we have a small business owner in our midst! Yes, have been for nearly twenty years. I dont think I am alone on here. There are many traders, garages, importers, etc in activities relating to the cars and loads more members who like me are business owners in other areas. If you consider where you do your shopping and exclude the obvious big retailers the vast majority will be with small independant business. It will surprise many to hear that small businesses employ the majority of people in this country. . Quote Link to comment Share on other sites More sharing options...
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