27-02-2016, 09:21 PM
1
The Budget 2016
HiLess than 3 weeks away, but hardly mentioned amongst all the Brexit news.
George needs money, the Global Economy is slowing down and we are not immune.
Pensions could be in the firing line, well for those who have not yet retired.
http://www.bbc.co.uk/news/business-35668372
I am all for abolishing the 40% Tax Relief for high earners, it always seemed wrong to me that they get double the relief that ordinary workers do, we should all get the same.
I am not in favour of abolishing the 25% Tax Free Lump Sum, many use that to pay off their mortgages.
What do you think?
28-02-2016, 12:44 AM
3
Re: The Budget 2016
Small Business and Manufacturing Companies in Uk are the backbone of the economy and they employ 5.4 millon people most of whom pay taxThe owners usuually mortgae their homes to start the business put in long hours and deserve rewarding
Tax on income over£42.385 is 40% and over £150.000 is 45%. The 40% rate should stay
Bonuses are taxed at 50% no wonder the Goverment are happy to let this happen
Untill recently they were handing out money like it grew on trees to families who never worked, they were given an income of £800+ weekly to go on holidays abroad and but all kinds of luxuries as well
They are still paying lip servivce to all the big boys who make sure their Companies trading in Uk are regisered abroad so paying very little tax and take huge £million bonusus all tax free
it is true they employ many people but that is no excuse for legally avoding paying tax.
That silly concession was brought in years ago to encourage foreign Companies to help with the economic situation and is now outdated.
Also the VAT is far too high and should be reduced.
And another thing many members of the Goverment in all parties have Off shore accounts, so they are not doing to much about that anomaly either.
They look after their own as usual.
28-02-2016, 08:48 AM
4
Re: The Budget 2016
Originally Posted by Azure
->
Small Business and Manufacturing Companies in Uk are the backbone of the economy and they employ 5.4 millon people most of whom pay taxThe owners usuually mortgae their homes to start the business put in long hours and deserve rewarding
Tax on income over£42.385 is 40% and over £150.000 is 45%. The 40% rate should stay
Bonuses are taxed at 50% no wonder the Goverment are happy to let this happen
Untill recently they were handing out money like it grew on trees to families who never worked, they were given an income of £800+ weekly to go on holidays abroad and but all kinds of luxuries as well
They are still paying lip servivce to all the big boys who make sure their Companies trading in Uk are regisered abroad so paying very little tax and take huge £million bonusus all tax free
it is true they employ many people but that is no excuse for legally avoding paying tax.
That silly concession was brought in years ago to encourage foreign Companies to help with the economic situation and is now outdated.
Also the VAT is far too high and should be reduced.
And another thing many members of the Goverment in all parties have Off shore accounts, so they are not doing to much about that anomaly either.
They look after their own as usual.
28-02-2016, 10:18 AM
6
Re: The Budget 2016
Originally Posted by spitfire
->
No one as yet has answered a fundamental question I asked a while ago, how has the lost revenue, the reduced taxation on the lower fuel price been negated, this not unsubstantial value must have formed a big chunk of the forward projection.
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