Abolition of the 10% Tax Band and reduction of Standard rate to 20% [Merged]

ManAtHome

studentphil wrote: »

All I can see from Labour is that they made this housing boom that has made the middle class richer and now they can do all this buying the house in the right area for the best school.

Think you should expand on this - why would the middle class be overjoyed about house prices going up if they have kids..?

Madjock

Gemmzie, yes that's last year's. The co I've just started working for have applied last year's tax code to all their staff, one chap with a co car hasn't been taxed on it all year, and the company accountant just says, well it's the Inland Revenue's fault!!

I'm a little bit anal about things like this - it must be the civil servant in me rearing it's ugly putrid head!!

studentphil

ManAtHome wrote: »

Think you should expand on this - why would the middle class be overjoyed about house prices going up if they have kids..?

Because they are on paper much richer with house they have and it lets them access lots of credit and buy homes in Spain and France.

Gemmzie

Madjock wrote: »

Gemmzie, yes that's last year's. The co I've just started working for have applied last year's tax code to all their staff, one chap with a co car hasn't been taxed on it all year, and the company accountant just says, well it's the Inland Revenue's fault!!

I'm a little bit anal about things like this - it must be the civil servant in me rearing it's ugly putrid head!!

I usually am too, sorry for the error. Am currently trying to work out how much I can earn per hour before I get taxed so that information is very helpful.

studentphil wrote: »

Because they are on paper much richer with house they have and it lets them access lots of credit and buy homes in Spain and France.

Actually, this might be correct. The other day someone was talking about putting 50% or something of your income into your pension and then you don't get taxed on it. It's mad

ManAtHome

studentphil wrote: »

Because they are on paper much richer with house they have and it lets them access lots of credit and buy homes in Spain and France.

Errrm, think you missed the bit about them having kids..?

studentphil

ManAtHome wrote: »

Errrm, think you missed the bit about them having kids..?

If you have kids, why isn't lots of credit and holiday homes a nice thing to have?

Kevicho

studentphil wrote: »

If you have kids, why isn't lots of credit and holiday homes a nice thing to have?

I think the term is inheritance, as living on credit you will leave them nothing, and also not teach them a thing about money management.

studentphil

Kevicho wrote: »

I think the term is inheritance, as living on credit you will leave them nothing, and also not teach them a thing about money management.

Maybe it is, but lots of people go on about how rich they are because of the housing boom

jaffa30

....... yawn Sp's this is getting borrrrrrrrrrrrrrrrrrrrring

ManAtHome

Not just inheritance - as housey-pricey go up, kids need to pay more to get on housey-pricey-go-up ladder/pyramid, maybe a bit of extra funding from parents MEWing to give them a hand-up?

Who are the winners and losers - discuss...