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  • TheScreamingEagles
    TheScreamingEagles Posts: 122,806
    So Sheffield might get a directly elected Mayor
  • dr_spyn
    dr_spyn Posts: 11,312
    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    You are most welcome to the one from Bristol.


  • Pulpstar
    Pulpstar Posts: 79,813
    Whats happening with the tax on my Peugeot 207 :D ?
  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    Life_ina_market_town said:

    FrancisUrquhart said:

    Bad move to totally get rid of student grants and replace them with loans..they were unsustainable, but genuinely poor students should get some help.

    Given that student loans are in no sense "loans" within the ordinary meaning of the term, this is utterly unobjectionable.
    No they aren't, they are a capped tax, but I don't like the idea that those who come from really poor backgrounds don't get a bit of a hand up.
  • TGOHF
    TGOHF Posts: 21,633
    BLT landlords - brace yourselves....
  • Pulpstar
    Pulpstar Posts: 79,813
    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    I won't be eligible to vote for you I'm afraid
  • Plato
    Plato Posts: 15,724
    If I've got this right - new rate for new cars, old rate for old cars.
    Pulpstar said:

    Whats happening with the tax on my Peugeot 207 :D ?

  • MaxPB
    MaxPB Posts: 40,327
    Here it bloody comes!
  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    dr_spyn said:

    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    You are most welcome to the one from Bristol.


    Is Mr Red Trousers not so popular these days?
  • Mortimer
    Mortimer Posts: 14,229
    Really pleased to see that BTL mortgage relief is being sensibly reduced.
  • Mortimer
    Mortimer Posts: 14,229
    Here it comes, IHT
  • TheScreamingEagles
    TheScreamingEagles Posts: 122,806
    dr_spyn said:

    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    You are most welcome to the one from Bristol.


    Well I'm umming and ahhing about whether to run as Manchester's first Directly Elected Mayor, now I might go for Sheffield.

    Decisions, Decisions.
  • Philip_Thompson
    Philip_Thompson Posts: 65,826
    Sensible transition period on BTL mortgage relief.
  • dr_spyn
    dr_spyn Posts: 11,312
    justin124 said:

    No mention of the Balance of Payments. I wonder why? 'Britain is not paying its way in the world'

    A problem common to all UK governments, but one which has disappeared off the political radar.
  • Flightpathl
    Flightpathl Posts: 1,243
    Life_ina_market_town said:

    Philip_Thompson said:

    Companies still have to pay tax.

    Yes, but inheritance tax is a charge on estates. A company, by definition, can never enter into anything equivalent to the affairs of a deceased testator.
    And individuals are not companies - unless your name is Ken Livingstone.
  • Pulpstar
    Pulpstar Posts: 79,813
    Mortimer said:

    Here it comes, IHT

    Reading the BBC article, do I need to get married to benefit from this or do I just need my parents to not get divorced :P ?
  • TheScreamingEagles
    TheScreamingEagles Posts: 122,806
    Pulpstar said:

    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    I won't be eligible to vote for you I'm afraid
    I think you might, if they go for the Sheffield City Region area.

    Covers, South Yorkshire, parts of Derbyshire and Nottinghamshire

    https://en.wikipedia.org/wiki/Sheffield_City_Region
  • DecrepitJohnL
    DecrepitJohnL Posts: 13,300
    Life_ina_market_town said:

    FrancisUrquhart said:

    Bad move to totally get rid of student grants and replace them with loans..they were unsustainable, but genuinely poor students should get some help.

    Given that student loans are in no sense "loans" within the ordinary meaning of the term, this is utterly unobjectionable.
    Not quite the point you were making but I've never really understood why income-contingent loans cannot be extended to other areas of public life.
  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    As always with Osborne, IHT changes never quite as simple or straight forward as advertised.
  • Tissue_Price
    Tissue_Price Posts: 9,039
    Pulpstar said:

    Mortimer said:

    Here it comes, IHT

    Reading the BBC article, do I need to get married to benefit from this or do I just need my parents to not get divorced :P ?
    That depends on your parents' will, really. They might not want to leave a valuable asset to an international playboy; you might be well advised to settle down.
  • AndyJS
    AndyJS Posts: 29,395
    Murray is playing tennis at Wimbledon and neither BBC1 nor BBC2 are showing the match.
  • Sunil_Prasannan
    Sunil_Prasannan Posts: 55,080
    "Hard-working singletons" :lol:
  • dr_spyn
    dr_spyn Posts: 11,312
    FrancisUrquhart said:

    dr_spyn said:

    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    You are most welcome to the one from Bristol.


    Is Mr Red Trousers not so popular these days?
    He has unblocked me on Twitter. Though his speeding exploits appeared on Top Gear.

    www.youtube.com/watch?v=mmT1jXKEwQU
  • Sunil_Prasannan
    Sunil_Prasannan Posts: 55,080
    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    Not a directly elected Dictator?
  • watford30
    watford30 Posts: 3,474
    Mortimer said:

    Really pleased to see that BTL mortgage relief is being sensibly reduced.

    Landlords will merely put up rents to make up the difference.
  • MaxPB
    MaxPB Posts: 40,327
    Higher dividend tax rate incoming. :O
  • TGOHF
    TGOHF Posts: 21,633
    £5k free dividend income per year :D

    YIPPEE !
  • Mortimer
    Mortimer Posts: 14,229
    Dividend taxation sounds much more complex, despite being sold as a simplefication...
  • Richard_Nabavi
    Richard_Nabavi Posts: 30,822
    Tissue_Price said:

    Pulpstar said:

    Mortimer said:

    Here it comes, IHT

    Reading the BBC article, do I need to get married to benefit from this or do I just need my parents to not get divorced :P ?
    That depends on your parents' will, really. They might not want to leave a valuable asset to an international playboy; .
    And a gambler to boot...
  • Flightpathl
    Flightpathl Posts: 1,243
    Pulpstar said:

    I pay £30 on my car VED...

    Am I about to be richer or poorer :P ?

    Poorer?
    But the point is it is going towards better roads and all those bores who bleat about the 'duty' not being a road fund tax can now shut up. Time to tax cyclists.
  • TheScreamingEagles
    TheScreamingEagles Posts: 122,806
    Sunil_Prasannan said:

    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    Not a directly elected Dictator?
    A mere stepping stone. Kinda the way Chancellor Palpatine went on to become Emperor Palpatine
  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    dr_spyn said:

    FrancisUrquhart said:

    dr_spyn said:

    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    You are most welcome to the one from Bristol.


    Is Mr Red Trousers not so popular these days?
    He has unblocked me on Twitter. Though his speeding exploits appeared on Top Gear.

    www.youtube.com/watch?v=mmT1jXKEwQU
    I know he has bloody 20mph zoned frigging everywhere, when I visited a couple of months ago. Also noticed parking restrictions everywhere and that the Downs are now one massive car park.
  • DaemonBarber
    DaemonBarber Posts: 1,626
    need to see details on the dividend relief changes...
  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    F##king hell, 18% corporation tax.
  • DaemonBarber
    DaemonBarber Posts: 1,626
    wow 19, then 18% corp tax
  • MaxPB
    MaxPB Posts: 40,327
    Holy shit. Corporation tax cuts again. 18% by 17/18. :O
  • Sandpit
    Sandpit Posts: 56,045
    Main corp tax rate heading towards Ireland... 18%
  • Richard_Nabavi
    Richard_Nabavi Posts: 30,822
    There's a lot of stuff in this Budget.
  • Pulpstar
    Pulpstar Posts: 79,813
    TGOHF said:

    £5k free dividend income per year :D

    YIPPEE !

    watford30 said:

    Mortimer said:

    Really pleased to see that BTL mortgage relief is being sensibly reduced.

    Landlords will merely put up rents to make up the difference.
    Errm

    Shouldn't they just sell their BTL properties and buy Vodafone shares instead now though ?
  • Life_ina_market_town
    Life_ina_market_town Posts: 2,319
    FrancisUrquhart said:

    As always with Osborne, IHT changes never quite as simple or straight forward as advertised.

    Utterly capricious. It encourages testators to keep their wealth in real property, rather than more productive investments.
  • TGOHF
    TGOHF Posts: 21,633
    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
  • [Deleted User]
    [Deleted User] Posts: 0
    18% corporation tax! Good man George.
  • Pulpstar
    Pulpstar Posts: 79,813
    DaemonBarber said:

    wow 19, then 18% corp tax

    I guess I'll be trying to make a loss this year then...
  • dr_spyn
    dr_spyn Posts: 11,312
    Arbeit macht frei.
  • Philip_Thompson
    Philip_Thompson Posts: 65,826
    Life_ina_market_town said:

    FrancisUrquhart said:

    As always with Osborne, IHT changes never quite as simple or straight forward as advertised.

    Utterly capricious. It encourages testators to keep their wealth in real property, rather than more productive investments.
    No it doesn't, he specifically said that those who downsize don't lost out.
  • Sunil_Prasannan
    Sunil_Prasannan Posts: 55,080
    TheScreamingEagles said:

    Sunil_Prasannan said:

    TheScreamingEagles said:

    So Sheffield might get a directly elected Mayor

    Not a directly elected Dictator?
    A mere stepping stone. Kinda the way Chancellor Palpatine went on to become Emperor Palpatine
    Ah, so will you re-organise the UK into the First Galactic Empire, for a safe and secure society?
  • Mortimer
    Mortimer Posts: 14,229
    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    How can it be simpler than currently: Either within personal allowance, 0% (well, 10% rate but coming with 10% tax credit) if under 40% tax rate, and within income tax rates after that...

  • Plato
    Plato Posts: 15,724
    edited July 2015
    Parents of 3/4yrs old to get 30hrs of free child care. 18-21yrs obligation to Earn Or Learn. No Auto HB for this group.
  • Philip_Thompson
    Philip_Thompson Posts: 65,826
    Mortimer said:

    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    How can it be simpler than currently: Either within personal allowance, 0% (well, 10% rate but coming with 10% tax credit) if under 40% tax rate, and within income tax rates after that...

    Wouldn't work with Corporation Tax rates below 20%
  • Pulpstar
    Pulpstar Posts: 79,813
    The big message from George today is:

    Keep the life support machine on till April 17th 2016 :P
  • Sunil_Prasannan
    Sunil_Prasannan Posts: 55,080
    AndyJS said:

    Murray is playing tennis at Wimbledon and neither BBC1 nor BBC2 are showing the match.

    http://www.bbc.co.uk/sport/live/tennis/32625716
  • TGOHF
    TGOHF Posts: 21,633
    Mortimer said:

    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    How can it be simpler than currently: Either within personal allowance, 0% (well, 10% rate but coming with 10% tax credit) if under 40% tax rate, and within income tax rates after that...

    I earn about £3k pa from divis - I have to do a tax return and pay the 40% rate difference.

    I will no longer have to do either.
  • DecrepitJohnL
    DecrepitJohnL Posts: 13,300
    Richard_Nabavi said:

    There's a lot of stuff in this Budget.

    Oh, I'm sure it was all in the election campaign and manifesto just a month back. It's not as if we spent the entire campaign debating Ed eating Nicola's bacon sandwiches.
  • edmundintokyo
    edmundintokyo Posts: 17,735
    edited July 2015
    Life_ina_market_town said:

    Philip_Thompson said:

    Companies still have to pay tax.

    Yes, but inheritance tax is a charge on estates. A company, by definition, can never enter into anything equivalent to the affairs of a deceased testator.
    In the not-so-distant future companies will be artificially intelligent life-forms. They'll probably reproduce sexually by sharing articles of incorporation with other companies. I'm glad Osborne's thinking ahead.
  • Life_ina_market_town
    Life_ina_market_town Posts: 2,319
    edited July 2015
    Philip_Thompson said:

    No it doesn't, he specifically said that those who downsize don't lost out.

    That relief is tapered, and, in any event, it has no application where a person has a choice of buying a larger property to avoid inheritance tax, or to invest in productive economic activity which is taxable as personalty.
  • foxinsoxuk
    foxinsoxuk Posts: 23,548
    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    Sounds like the aim is to stop the tax dodge where people form companies and pay out as dividends rather than salary. Have to do my sums to see how it affects my own finances.
  • SouthamObserver
    SouthamObserver Posts: 40,054
    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.
  • Mortimer
    Mortimer Posts: 14,229
    edited July 2015
    TGOHF said:

    Mortimer said:

    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    How can it be simpler than currently: Either within personal allowance, 0% (well, 10% rate but coming with 10% tax credit) if under 40% tax rate, and within income tax rates after that...

    I earn about £3k pa from divis - I have to do a tax return and pay the 40% rate difference.

    I will no longer have to do either.

    Ohhh, its another pensioner/small shareholder boost isn't it. Gotcha.

    Less handy for owners of small ltd companies.

  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    Wow, freezing benefits for 4 years....
  • DecrepitJohnL
    DecrepitJohnL Posts: 13,300
    Plato said:

    Parents of 3/4yrs old to get 30hrs of free child care. 18-21yrs obligation to Earn Or Learn. No Auto HB for this group.

    Raising the school leaving age to hide unemployment -- has there been a government in the last half century not to have done this?
  • TGOHF
    TGOHF Posts: 21,633
    All working benefits frozen for 4 years ?
  • DaemonBarber
    DaemonBarber Posts: 1,626
    sharp intake of breath there...

  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    edited July 2015
    Housing benefit, not just frozen, but reduced.

    Guardianistas will be going into meltdown.
  • Plato
    Plato Posts: 15,724
    Lots of changes in welfare reform - need to unpick that lot. No rises for 4yrs for in-work benefits.
  • watford30
    watford30 Posts: 3,474
    SouthamObserver said:

    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.

    Osborne has likely just damaged his chances of becoming PM.
  • TGOHF
    TGOHF Posts: 21,633
    SouthamObserver said:

    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.

    Those that have been playing the system might feel some discomfort ...
  • viewcode
    viewcode Posts: 25,202
    edited July 2015
    Richard_Nabavi said:



    Yes, precisely.

    I came across an interesting pair of statistics recently. I'd be interested in people's guesses as to the correct answers to these two questions (no Googling!):

    1. How often does the average house change hands (i.e. number of years)?

    2. What proportion of housing transactions are new-build?

    [edit: extraneous blockquote tag removed]

    When I was looking at auction properties, I had to delve thru the property history to find out if the person auctioning the property actually owned it (surprisingly, there were legitimate doubts about whether two of them actually did!). I was taken aback by the number of houses that are kept in the family: grandparents buy in the 1920s, leave to their son, who leaves to their sister, who leaves to her son, and so on. The impression I came away with was that the majority of property in England and Wales is simply never sold in the conventional sense, it's kept in the family instead. Is my impression correct?
  • Mortimer
    Mortimer Posts: 14,229
    watford30 said:

    SouthamObserver said:

    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.

    Osborne has likely just damaged his chances of becoming PM.
    Afraid he has lost my vote. Silly attack on small and family ltd companies.

  • Pulpstar
    Pulpstar Posts: 79,813
    Sounds like a great budget to me - I'm assuming I'm a winner, especially once that Lloyds giveaway gets going.
  • edmundintokyo
    edmundintokyo Posts: 17,735
    foxinsoxuk said:

    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    Sounds like the aim is to stop the tax dodge where people form companies and pay out as dividends rather than salary. Have to do my sums to see how it affects my own finances.
    I guess he has to do that because Britain has this ludicrously huge difference between the tax you pay on salary and the tax you pay on dividends, and he's making it even ludicrouslier huger.
  • Sunil_Prasannan
    Sunil_Prasannan Posts: 55,080
    Sunil_Prasannan said:

    AndyJS said:

    Murray is playing tennis at Wimbledon and neither BBC1 nor BBC2 are showing the match.

    http://www.bbc.co.uk/sport/live/tennis/32625716
    Oh dear - rain stops play at Wimbledon!
  • MaxPB
    MaxPB Posts: 40,327
    SouthamObserver said:

    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.

    I think that's the point. "Self-employed" anyway.
  • Mortimer
    Mortimer Posts: 14,229
    edmundintokyo said:

    foxinsoxuk said:

    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    Sounds like the aim is to stop the tax dodge where people form companies and pay out as dividends rather than salary. Have to do my sums to see how it affects my own finances.
    I guess he has to do that because Britain has this ludicrously huge difference between the tax you pay on salary and the tax you pay on dividends, and he's making it even ludicrouslier huger.
    As I've argued ad nauseum, the difference between tax on salary and tax on dividends is because if you're receiving dividends you are:

    a) risking capital (which will already have been taxed at some point)
    b) not receiving the same employment benefits as the employed

  • TGOHF
    TGOHF Posts: 21,633
    Chav breeding tax introduced.
  • Plato
    Plato Posts: 15,724
    Confirmed £23k/£20k caps on benefits and no UC/Tax Credit after 2017 for more than 2 kids. Same with HB. Exceptions for multiple births.
  • MarkHopkins
    MarkHopkins Posts: 5,584

    @MaxPB will be pleased.
  • Life_ina_market_town
    Life_ina_market_town Posts: 2,319
    edmundintokyo said:

    I guess he has to do that because Britain has this ludicrously huge difference between the tax you pay on salary and the tax you pay on dividends, and he's making it even ludicrouslier huger.

    The money that constitutes dividends has already been charged to corporation tax.
  • Flightpathl
    Flightpathl Posts: 1,243
    We need to remember that at the start of the budget Osborne pointed out that over the parliament there would be '£37bn of fiscal consolidation'. Thats a big figure and anyone trying to pretend there is any weakness in the govts approach needs a pretty convincing argument.
  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    I don't think I will be able to listen to BBC or read the Guardian for the next 3 months after this budget...the screaming is going to be like nothing heard since the days of Thatcher.
  • MaxPB
    MaxPB Posts: 40,327
    Two child limit for tax credits. Finally.
  • kle4
    kle4 Posts: 99,113
    Plato said:

    Bags under her bags. Being Home Sec must be a killer task master and always teetering on the edge of some crisis.

    FrancisUrquhart said:

    Theresa May looks totally knackered.

    Plato said:

    Bags under her bags. Being Home Sec must be a killer task master and always teetering on the edge of some crisis.

    FrancisUrquhart said:

    Theresa May looks totally knackered.

    Longest serving Home Secretary for decades, cannot be an easy role.
  • Plato
    Plato Posts: 15,724
    Tax credit threshold reduced from £6420 to £3850.

    Social rents reduced by 1% for next 4yrs.
  • Philip_Thompson
    Philip_Thompson Posts: 65,826
    MaxPB said:

    Two child limit for tax credits. Finally.

    With an exemption for multiple births. Eminently sensible policy!
  • Richard_Tyndall
    Richard_Tyndall Posts: 33,463
    MaxPB said:

    SouthamObserver said:

    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.

    I think that's the point. "Self-employed" anyway.
    The trouble is that people like me whose type of work means I have to move from one client to another continuously on short term contracts have no choice but to be self employed.

    I have no idea what these changes mean but I guess from what people are saying here that it is going to make life much harder for people like me.

  • Mortimer
    Mortimer Posts: 14,229
    Only thought on divi income. If this has been done cleverly, personal allowance threshhold will rise quite a lot
  • MaxPB
    MaxPB Posts: 40,327
    Philip_Thompson said:

    MaxPB said:

    Two child limit for tax credits. Finally.

    With an exemption for multiple births. Eminently sensible policy!
    Indeed.
  • Plato
    Plato Posts: 15,724
    edited July 2015
    IC unchanged - thresholds now £11k next year = £900pa extra. Higher rate £43k.

    29m paying less tax
  • TGOHF
    TGOHF Posts: 21,633
    Richard_Tyndall said:

    MaxPB said:

    SouthamObserver said:

    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.

    I think that's the point. "Self-employed" anyway.
    The trouble is that people like me whose type of work means I have to move from one client to another continuously on short term contracts have no choice but to be self employed.

    I have no idea what these changes mean but I guess from what people are saying here that it is going to make life much harder for people like me.

    Depends - do you pay yourself via dividends or wages ?
  • MaxPB
    MaxPB Posts: 40,327
    £11k tax free allowance.
  • DaemonBarber
    DaemonBarber Posts: 1,626
    11k and 43k tax thresholds.
  • Philip_Thompson
    Philip_Thompson Posts: 65,826
    Mortimer said:

    edmundintokyo said:

    foxinsoxuk said:

    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    Sounds like the aim is to stop the tax dodge where people form companies and pay out as dividends rather than salary. Have to do my sums to see how it affects my own finances.
    I guess he has to do that because Britain has this ludicrously huge difference between the tax you pay on salary and the tax you pay on dividends, and he's making it even ludicrouslier huger.
    As I've argued ad nauseum, the difference between tax on salary and tax on dividends is because if you're receiving dividends you are:

    a) risking capital (which will already have been taxed at some point)
    b) not receiving the same employment benefits as the employed

    c) are paying Corporation Tax.

    That is being reduced, you need to look at it as a whole package of reforms.
  • FrancisUrquhart
    FrancisUrquhart Posts: 85,734
    Has he bottled combining IC/NI? It is sounding like it.
  • MaxPB
    MaxPB Posts: 40,327
    Richard_Tyndall said:

    MaxPB said:

    SouthamObserver said:

    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.

    I think that's the point. "Self-employed" anyway.
    The trouble is that people like me whose type of work means I have to move from one client to another continuously on short term contracts have no choice but to be self employed.

    I have no idea what these changes mean but I guess from what people are saying here that it is going to make life much harder for people like me.

    As long as you pay yourself via wages rather than using the dividends wheeze this isn't going to change anything.
  • [Deleted User]
    [Deleted User] Posts: 0
    He seems to have forgotten to screw the Jocks.
  • Richard_Tyndall
    Richard_Tyndall Posts: 33,463
    TGOHF said:

    Richard_Tyndall said:

    MaxPB said:

    SouthamObserver said:

    This dividend tax thing is going to hurt a lot of self-employed folk, I imagine.

    I think that's the point. "Self-employed" anyway.
    The trouble is that people like me whose type of work means I have to move from one client to another continuously on short term contracts have no choice but to be self employed.

    I have no idea what these changes mean but I guess from what people are saying here that it is going to make life much harder for people like me.

    Depends - do you pay yourself via dividends or wages ?
    Both.
  • TheScreamingEagles
    TheScreamingEagles Posts: 122,806
    Tory Defence fans climaxing at that announcement
  • TGOHF
    TGOHF Posts: 21,633
    2% defence budget -ZING !
  • Plato
    Plato Posts: 15,724
    Defence/Security - increase in real terms every year, £1.5bn extra for Joint Security Fund.

    2% for Defence each year.
  • williamglenn
    williamglenn Posts: 56,290
    Liz Kendall influencing government policy already.
  • DaemonBarber
    DaemonBarber Posts: 1,626
    Philip_Thompson said:

    Mortimer said:

    edmundintokyo said:

    foxinsoxuk said:

    TGOHF said:

    Mortimer said:

    Dividend taxation sounds much more complex, despite being sold as a simplefication...

    It's much simpler for those that earn less than 5k pa from divis.
    Sounds like the aim is to stop the tax dodge where people form companies and pay out as dividends rather than salary. Have to do my sums to see how it affects my own finances.
    I guess he has to do that because Britain has this ludicrously huge difference between the tax you pay on salary and the tax you pay on dividends, and he's making it even ludicrouslier huger.
    As I've argued ad nauseum, the difference between tax on salary and tax on dividends is because if you're receiving dividends you are:

    a) risking capital (which will already have been taxed at some point)
    b) not receiving the same employment benefits as the employed

    c) are paying Corporation Tax.

    That is being reduced, you need to look at it as a whole package of reforms.
    And changes to thresholds too.
    My accountant is going to earn his fee the next couple of years/

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