Budget 2016

michaels

Sugar tax?


You're fired

Mistermeaner

If you turn his head upside down it still looks the same.

wotsthat

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.

Were you hoping you'd be able to bung in some money, get 20% interest, and take it straight back out?

mwpt

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.

To me that seems harsh too. Do they pay competitive interest in this ISA? Otherwise, you have to be 100% certain you're going to use it to buy a house one day, or it's a loss maker and stupid.

CLAPTON

wotsthat wrote: »

Were you hoping you'd be able to bung in some money, get 20% interest, and take it straight back out?

sounds good to me

wotsthat

mwpt wrote: »

To me that seems harsh too. Do they pay competitive interest in this ISA? Otherwise, you have to be 100% certain you're going to use it to buy a house one day, or it's a loss maker and stupid.

You can invest in what you like - just like any other ISA.

Better than a kick up the behind if you're saving for a house. Tax relief on the way in and tax free on the way out makes it an interesting consideration for pension saving.

There have been some well off under 40's on the pension board lately worried about saving too much in pensions and breaching the lifetime allowance in the future. For them this scheme is a gift from heaven.

All subject to future meddling of course and, irrationally IMO, people seem to worry about pension tinkering but think ISA rules are set in stone for ever.

wymondham

I've been through the budget seeing what impact it will have, and most of the items are in one or two years time so not really feeling much about this?

PasturesNew

I don't understand sugar tax. I don't gain weight from drinking fizzy drinks - are they such a HUGE part of people's everyday lives?

.... I have to watch pies, sausage rolls, pasties, bread goods, sweet treats in general (cheesecakes/bags of sweeties) ....

I've never understood the bizarre idea that everybody's drinking sugar-laden fizzy drinks and that's why people are fat, so it needs taxing.

There's probably more sugar in a litre of fruit juice than 3 cans of pop.

ukcarper

Will a can of diet coke be 8p cheaper than normal coke after sugar tax is introduced I've got a feeling it won't.

Generali

PasturesNew wrote: »

I don't understand sugar tax. I don't gain weight from drinking fizzy drinks - are they such a HUGE part of people's everyday lives?

.... I have to watch pies, sausage rolls, pasties, bread goods, sweet treats in general (cheesecakes/bags of sweeties) ....

I've never understood the bizarre idea that everybody's drinking sugar-laden fizzy drinks and that's why people are fat, so it needs taxing.

There's probably more sugar in a litre of fruit juice than 3 cans of pop.

There's a little more sugar in fruit juice than in Coke, about 10% more. It's a myth that fruit juice is 'good for you' although if you are an 18th Century sailor I suggest you drink loads of fruit juice as it will stop you getting scurvy.

Loads of people have a 600ml fizzy pop with their lunch every day. A large pop from [insert fast fooderie of choice] can have 65g (2.5oz/16 teaspoons/22 sugar lumps) of sugar in it.