The Budget

JasonLVC

kabayiri wrote: »

BABYRUSH !!!!! target April 2017

(ps - I am copyrighting this term, please note Daily Mail )

I suspect the left wing press will call it a "Baby Tax", like they did with the rent reduction becoming the bedroom tax.

I can see the headlines now "Evil Tories tax babies!"

MFW_ASAP

Absolutely faultless budget today. I couldn't see a single item that I could disagree with. A masterclass of government and prudence that the idiot who brought us Tax Credits could never aspire to (Gorden Brown used to love to use the word Prudence, but never learned what it actually meant!)

kabayiri

I remember the olden days, when the budget was about 5p on Fags and 3p on a pint of beer.

vivatifosi

theEnd wrote: »

It's quite significant and should make IR35 obsolete:

Mr Osborne says the dividend tax system is "complex and archaic". He's replacing dividend tax credit with a tax-free allowance of £5,000 of dividend income for all taxpayers.

The rates of dividend tax will be set at 7.5%, 32.5% and 38.1%.


Details will be important. On all divds 'received' there's an extra 7.5% to pay, but there will be some gain as the 5k allowance and the removal of tax credit, should mean the move between 7.5% and 32.5% is later than the jump between 0% and 25%. Maybe as much as 9k later.

Thank you, thank you thank you... I really wanted to capture that and didn't get a chance. So I appreciate your typing that up.

kabayiri

I can't really see the Non Doms crying into their Dom Perignon '75 after the budget. It was nice while it lasted.

They will probably be eyeing up some cheap real estate - perhaps a Greek island or 2.

beecher2

https://www.gov.uk/government/publications/summer-budget-2015

Detail is up - under 25s stay with National Minimum Wage

For younger workers, the priority is to secure work and gain experience, which is already reflected in the existing NMW rate structure. In order to maximise the opportunities for younger workers to gain that experience, the NLW will only apply to workers aged 25 and over. The wages of younger workers will continue to be underpinned by the core NMW.

vivatifosi

Generali wrote: »

Well done viva. I blogged one on here, it's strangely exhilarating at the end!

Thanks Gen. I remember your budget, it was great. I think Hamish has done a few too. What's your view from afar as to what's been announced?

vivatifosi

beecher2 wrote: »

https://www.gov.uk/government/publications/summer-budget-2015

Detail is up

Is it me, or is that a lot quicker than previous years?

kabayiri

Notable omissions anyone ?

My take : not much on OAPs costing the state £100bn of that £250bn bennies bill. No suggestion of means testing the state pension.

I guess the blue rinse brigade in Knutsford would ambush him outside Waitrose if that happened.

theEnd

vivatifosi wrote: »

Thank you, thank you thank you... I really wanted to capture that and didn't get a chance. So I appreciate your typing that up.

My interpretation may well be wrong. The details will be interesting. Quite a big deal for me.