Who is going to Blog the Budget for us?

tomterm8

Here's a little noticed change... the government will change the rules, so that in the case of cigarettes longer than 8 cm excluding a filter, every additional 3cm of cigarette attracts duty at the rate of 1 cigarette. So, a 9 cm cigarette will cost twice the duty of a 8cm cigarette.

lostinrates

tomterm8 wrote: »

Here's a little noticed change... the government will change the rules, so that in the case of cigarettes longer than 8 cm excluding a filter, every additional 3cm of cigarette attracts duty at the rate of 1 cigarette. So, a 9 cm cigarette will cost twice the duty of a 8cm cigarette.

TBH I've never measured a ciggy....

every now and then I get the occasional urge to smoke (haven't smoked for 6 and a half years or something, and usually detest the smell etc). I'll make sure if I give in I'll go for 8cm or less.:D

Shakethedisease

Indeed. Nowhere in Scotland will be impacted, from what I can see.

Perhaps a few areas in theSouth East, but overall a total non-issue.

Of course it's going to be an issue.. but not because of the overall cap which everyone is focusing on.

More the fact that " From October 2011 Local Housing Allowance Rates will be set at the 30% percentile of local rates "

That's going to take a lot more houses out of those receiving LHA's reach right ? It will narrow the rental market even further for tenants on benefits. Aberdeen or London or where-ever ? And those landlords that rent to those on benefits will either have to drop the rent or stop taking those on benefits altogether ?

Not sure if I'm making sense, but it was that LHA would be set at 30% of local rental rates that caught my eye. Won't that have a huge effect, wherever you live ?

chewmylegoff

ILW wrote: »

Just checked Inner Lewisham (Dump, I used to live there)
4 Bed £402 per week
5 Bed £560 per week

don't know where you're looking but this 4 bed a "stone's throw" from lewisham station is £250pw. there weren't any on rightmove that were more than £350pw.

http://www.rightmove.co.uk/property-to-rent/property-29587019.html

most expensive 5-bed was £510pw, and there are some on for £350pw.

http://www.rightmove.co.uk/property-to-rent/property-29502389.html

PhylPho

The Budget is daylight robbery. Hard working families everywhere – gone. Hard working British families everywhere – gone. Prudence – gone. No more boom and bust – gone. The UK is better placed than any other country to come out of world-wide recession faster than any other country – gone.

Every keynote phrase from The Most Brilliant Chancellor Britain Ever Had has been cynically taken away by some bloke with the cheek to be young, articulate and seemingly with a fair grasp of economics.

It’s a disgrace. Just watch at the next General Election when the Tories and the LibDems are completely wiped out and every seat is won by Labour, oh yes.

StevieJ

carolt wrote: »

Huge change for anyone hoping to get a rental in anywhere nice in London - it means Zone 3 or beyond, chaps!

(Gasps! Those poor benefit claimants having to get public transport to work... Oh hang on, they don't go to work... :think: )

Oh I misread that I thought those allowances were for a month

silvercar

Shakethedisease wrote: »

Of course it's going to be an issue.. but not because of the overall cap which everyone is focusing on.

More the fact that " From October 2011 Local Housing Allowance Rates will be set at the 30% percentile of local rates "

That's going to take a lot more houses out of those receiving LHA's reach right ? It will narrow the rental market even further for tenants on benefits. Aberdeen or London or where-ever ? And those landlords that rent to those on benefits will either have to drop the rent or stop taking those on benefits altogether ?

Not sure if I'm making sense, but it was that LHA would be set at 30% of local rental rates that caught my eye. Won't that have a huge effect, wherever you live ?

This will have a major effect. At the moment LHA rates are set at the average, so those receiving LHA have a neutral effect on the rates.

Drop LHA to the 30% percentile and areas where there are a lot of LHA claimants will find their rent in an ever dropping cycle. eg if half the private rental properties are to LHA recipients then half the rental market can't afford the average rent, so rents will end up dropping. This drops the 30% percentile further.....

In an area with a lot of private rentals, it won't make much difference.

Shakethedisease

And what those that work and also claim LHA ? Will that not mean a load of people on low incomes that can't live anywhere near where they work anymore ?

( Shelter Scotland, today )

"Seven out of eight people receiving housing benefit have a job. This shows that housing in the UK whether in the private or social sector is still too expensive for many hardworking families. (2)

“This is at a time when nearly half of LHA claimants (3) are already making up a shortfall of almost £100 a month to meet their rent. By ripping out this support from under their feet it will push many households over the edge, triggering a spiral of debt, eviction and homelessness.

It's a really tough one this, there definately needs to be huge reforms... But OTOH, I don't think this LHA policy has been thought through particularly well at all.:(

John_Pierpoint

Just so that we all understand:
[AEA must mean Annual Exempt Amount]

11. In working out the CGT payable, taxpayers will be able to deduct losses
and the AEA in the way which minimises the tax due.

Example 1

In 2010-11 X’s taxable income, after all allowable deductions and the
personal allowance, is £27,400. The upper limit of the income tax basic
rate band is £37,400. X sells an asset in May 2010 and realises a
chargeable gain of £17,000. In November 2010 X sells another asset,
realising a chargeable gain £25,100. X has no allowable losses to set
against these gains, and the AEA for 2010-11 is £10,100. Neither of the
gains qualifies for entrepreneurs’ relief.

X’s taxable income is £10,000 less than the upper limit of the basic rate
band (£37,400 - £27,400). X sets the AEA against the later gain (because
part of that gain is liable to tax at the higher CGT rate), leaving £15,000
taxable (£25,100 – £10,100). The first £10,000 of the £15,000 is taxed at
18 per cent and the remaining £5,000 is taxed at 28 per cent. The
£17,000 chargeable gain X realised in May 2010 before the change of
rates on 23 June 2010 is taxable at the old 18 per cent rate.

System

So is this the lot now? I'm not feeling a massive urge to invest in a bunker yet.

When the extra VAT comes in, are we going to have to put up with a load more yellow triangle threads about inflation? I don't think I can handle it.