Omnishambles?

michaels

http://www.bbc.co.uk/news/uk-politics-39278968

Plans for NI rises for the self employed dropped?!

I along with most on PAYE thought it only fair that a tax loophole was closed but clearly those impacted by a whole £589pa (max) have the ear of the Tory party.

I am PAYE but in my mid 40s have maxed out my state pension so none of my NI goes towards any more pension entitlement and yet I don't get an NI reduction :mad:

GreatApe

If its so rosy being self employed then join them

davomcdave

The difference in NI for self-employed people was to reflect the fact that the self-employed weren't building state pension. Now they do so should pay NI.

According to The Economist the take is 0.1% of tax receipts.

Spidernick

I'm not sure how you could have maxed out on the state pension in your mid-40s, seeing as 35 years are going to be needed to get the full state pension, I believe. Were you paying NI when doing a paper round or something?

This was so obviously going to happen that you have to wonder just how out of touch recent Chancellors are. Darling didn't make any balls up like this (from memory), but Brown had his 10% tax rate debacle, Osborne had the 'Pasty Tax' and now this!

westernpromise

Roughly how many Billy Bunters will now decide come the GE that, in consequence of this, they will be transferring their support to Jeremy Khorbiyn?

That's how much this matters.

michaels

Surely having taken the political heat (such as it is given the opposition) the govt should have carried through for fairness/revenue reasons.

And it is easy to have made 35 years equivalent of NI through SERPS/S2P payments by the time you are 40 so you no longer accrue any additional pension beyond that point, hence no reason why the self employed should pay less I just because they previously got less pension entitlement.

michaels

GreatApe wrote: »

If its so rosy being self employed then join them

This is exactly the problem, the higher paid more clued up have converted their employee status to self employed in order to pay less tax.

ruperts

Bad decision to increase the tax compounded by a bad decision to cave in under the slightest amount of pressure. May and Hammond are !!!! weak. Clarkson would do a better job. Any half-competent Labour leader would have them for breakfast.

stator

Why on earth they don't scrap NI and save the country millions on beurocracy I don't know. It's a complete farce.

MyOnlyPost

Increase NI for the self employed to the same rates as those on PAYE, then give the self employed the same entitlements that those on PAYE get (maternity/paternity pay etc.) Then everyone is treat the same.

padington

So now the budget is 2 billion in the red. Debarcle.