Re: Help for Self Employed

Doesn't matter about coming from taxed income, it is capital that they can use for whatever legal purposes they wish.

They should use it for their needs before getting a penny from tax payers which should be limited to absolute and essential NEEDS only and not a penny more.

Re: Help for Self Employed

Ofcourse it matters that its from taxed income. If I buy a car and have no savings out of taxed income how is that different to having savings from taxed income and no new car ?

So on the other hand then, you would be Ok with someone spending all their savings on a new car, like their neighbours did a few months before, so they can claim the same amount of handouts from the government ? Savers and spenders are both tax payers and paid into the system, the only difference is one keeps the asset as cash, the other on other things. Or should the neighbour with the car be forced to sell it and use the cash raised to fund themselves before getting tax payers handouts (that only seem to be for non-tax payers according to your logic) ?

Re: Help for Self Employed

That's why the abandoning of means testing before receiving any benefits was not a good idea. There should be an examination of nonessential assets before a penny piece was given as an essential aid.

Re: Help for Self Employed

I don't agree, I believe if you pay in, you get out and its proportional to the amount you pay. Just like in Switzerland, for example.

Our welfare system is garbage.

As an example, rent is not taken into account for people when they retire. If we put a bit more tax on luxury items and added it to the pension funds then people would be much better off in retirement. Just whacking big taxes on people isn't the answer, tax the things wealthy people buy, then that can help everyone. A (mostly) flat VAT rate is not helpful at all.

Perhaps this is something we may agree on

Re: Help for Self Employed

I think the answer to your problem Bread, would be to keep your
savings under the bed!
The present interest rates are shyte and are actually negative so
you wont be missing anything!
Both you and Todgy have valid points which l can understand and it
is obvious our present system of benefits is no longer fit for
purpose as it is being robbed from both ends at present!!

Donkeyman! 🤔🤔🤔

Re: Help for Self Employed

I've got a lot of savings in premium bonds and properties, Donkeyman. The interest on savings is lousy as you say so I may as well see if I can win myself wealthy, and also avoid tax on the winnings as well (shhh! don't tell Swimmy )

Re: Help for Self Employed

Some people with low pay and in areas of mass unemployment live from, 'Hand to Mouth' 'daily
They haven't a Hope in Hell's chance of saving any money
If they have families it is a fact that they grow out of their clothes and shoes in a month and have enormous appetites.
Of course you will say, 'They should not have children if they can't support them.
No one told then that in the UK. 'The Rich Get Richer and the Poor get Poorer'
And,these children will support everyone and the Economy when they get older.

Re: Help for Self Employed

Fine! BUT if you DO win a wedge and fall on hard times then you should be made to use that money before you get a red cent from any Benefits.

Re: Help for Self Employed

ACTUALLY the kids will only cease to be a benefit to the domestic economy if they produce something of greater value in the export market than the cost in imports that they create.

As for having kids, there's an American saying that I totally agree with - if you can't feed 'em then don't breed 'em.

Living hand to mouth? Get a second job or LIVE hand to mouth.

Live in areas of mass unemployment? MOVE. In any case there's ALWAYS some way to make a few quid - and that's without resorting to things naughty.

The rich get richer? It's the well off that pay for so much that is reallocated to those who don't or won't put themselves out.

Re: Help for Self Employed

There is no guarantee that those children will be in the position to
even support just THEMSELVES when the time comes Azure?
And coming from a deprived background is not the best way to
start your life as the odds are stacked against you unless you can
get some form of further education?
I dont envy the youngsters at the wrong end of society these days!

Donkeyman!