Could Basic Rate Tax Rise By 5p?

mr_fishbulb

Thrugelmir wrote: »

Outside of income tax difficult to see where significant amounts of revenue can be raised.

They need to mirror their aggressive offence with aggressive defence (i.e. stop p!ssing the money away on rubbish ideas and jobs).

kabayiri

I thought the tried and trusted budget-fund-raiser was :-
an extra £3 on a packet of fags
an extra £2 on a pint of bitter/alcohol

The thought of the former will drive many people to drink, thus increasing the effectiveness of the latter. I believe this what they call joined up government

mitchaa

thriftybabe wrote: »

Something drastic has to be done. I think eventually it will rise by 5p but they will do it in bits. TBH I would rather get it over and done with and pay it. VAT is going to play havoc with our small business. We do extensions and are already competing with people who are doing cash jobs. What do we do when we can only get a couple of jobs a year as everyone else can do it at least 35% cheaper than us by the time we add our tax and VAT on? We may as well close up shop now and do what everyone else is doing around us and take cash!

I would rather an increase in VAT so everyone pays it, rather than just those unfortunate in the workforce. You run a company, you can offset expenditure like there is no tomorrow so a rise in income tax is not going to be as bad for you as say a rise in VAT hence why you are of the opinion of you are

Thrugelmir

mr_fishbulb wrote: »

They need to mirror their aggressive offence with aggressive defence (i.e. stop p!ssing the money away on rubbish ideas and jobs).

A high % of money spent on jobs returns to the exchequer as tax.

drc

If low earners will be paying even more on their already paltry salary, what incentive will there be to stay in work when you can go on the dole and earn almost as much without all the bother of travelling to and from work?

lemonjelly

drc wrote: »

If low earners will be paying even more on their already paltry salary, what incentive will there be to stay in work when you can go on the dole and earn almost as much without all the bother of travelling to and from work?

Not only that, if income tax increases, & disposable income falls, who's going to be able to buy anything to support our business' to help us spend our way out of recession?

marklv

mitchaa wrote: »

I would rather an increase in VAT so everyone pays it, rather than just those unfortunate in the workforce. You run a company, you can offset expenditure like there is no tomorrow so a rise in income tax is not going to be as bad for you as say a rise in VAT hence why you are of the opinion of you are

Not good, because VAT increases fuel inflation, as they inextricably involve raising prices.

bendix

Sod it. I've had enough of the UK. With the tax increases I am now actively looking for a new role overseas. I have one job offer - located in an offshore location - in the bag, and I'm looking at others.

I have paid over £50k in income tax since January 2009 when I arrived. I'm damned if they're going to have the same amount this year.

lemonjelly

bendix wrote: »

Sod it. I've had enough of the UK. With the tax increases I am now actively looking for a new role overseas. I have one job offer - located in an offshore location - in the bag, and I'm looking at others.

I have paid over £50k in income tax since January 2009 when I arrived. I'm damned if they're going to have the same amount this year.

Bye...

Will you complain as much about everything when you get there?

bendix

lemonjelly wrote: »

Bye...

Will you complain as much about everything when you get there?

Complain about paying a flat rate tax of around 6%? Would you?