Budget 2016

markharding557

As budgets go not bad!
The lifetime isa should be a help for some younger people, help for small business is good.
Nothing for low paid under the tax threshold so that leaves a lot of part timers and ZHC workers out.

ScoobyZ

michaels wrote: »

CGT roller coaster for the BTLrs - rate cut to 20%...except for resi property....

Gutted will hold on to mine for a couple more years until he reduces it for residential which he will in 2019/20 to get as much in before the next election.

CLAPTON

markharding557 wrote: »

As budgets go not bad!
The lifetime isa should be a help for some younger people, help for small business is good.
Nothing for low paid under the tax threshold so that leaves a lot of part timers and ZHC workers out.

of course the minimum wage increases in April.
as was noted when he (with the support of labour and the libdem) increased the tax free allowance, it does mean the parttime worker won't benefit

Thrugelmir

Jennifer_Jane wrote: »

Whilst I agree, technically, we (us pensioners) do benefit slightly from the triple lock (I know the difference between RPI and CPI, so use the word "slightly"), and certainly from the increased personal tax allowance.

In an age of austerity it's a considerable benefit. One wonders if there's some thought behind this. Beyond 2020 the triple lock will be dispensed with. The state pension having grown in real terms in the intervening period. This then provides a welcome boost ( and backstop) to balancing the books so to speak. If something unexpected should happen to blow GO's deficit reduction plans off course.

cells

small business rates relief increased. Will help put money into a lot of small businesses with small shops/units. Shame its delayed by a year before introduction

harz99

cells wrote: »

small business rates relief increased. Will help put money into a lot of small businesses with small shops/units. Shame its delayed by a year before introduction

Exactly, how many won't survive that year - pubs for instance.

Thrugelmir

harz99 wrote: »

Exactly, how many won't survive that year - pubs for instance.

Pubs have been in decline for many years. Fate was sealed for many once alcohol was freely available from supermarkets 24/7.

Graham_Devon

Ha, I like this ISA thing. You can buy a house with your money because the government says you can.

However, should you wish to use your money for anything else, you'll lose the bonus (fair enough) but also pay a hefy 5% penalty!

So if you have paid in 20k over 5 years, it will cost you £1,000 to access your own money as you are not spending it on what the government want you to spend it on. Seems a tad harsh.

Thrugelmir

Graham_Devon wrote: »

So if you have paid in 20k over 5 years, it will cost you £1,000 to access your own money as you are not spending it on what the government want you to spend it on. Seems a tad harsh.

Which then defeats the whole purpose of the new scheme. :icotbaske

lisyloo

Graham_Devon wrote: »

Ha, I like this ISA thing. You can buy a house with your money because the government says you can.

However, should you wish to use your money for anything else, you'll lose the bonus (fair enough) but also pay a hefy 5% penalty!

So if you have paid in 20k over 5 years, it will cost you £1,000 to access your own money as you are not spending it on what the government want you to spend it on. Seems a tad harsh.

Not Harsh at all.
You get a benefit for using the money for certain things.
If you don't meet the conditions you lose the benefit but at least you can change your mind which you cannot with a pension.
The only way to access pension money before retirement is to die !!