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What would you do if you were made the Prime Minister of your country?
- Thread starter yaju
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Neil Pickup
Cricket Web Moderator
And NOT National Insurance like this!
Socialist government my ****!!!
Nothing earnt over £20,615 will be further affected. That really helps the less well off doesn't it.
!
Socialist government my ****!!!
Nothing earnt over £20,615 will be further affected. That really helps the less well off doesn't it.
!
marc71178
Eyes not spreadsheets
I think NI will go up from next Tax Year for all values in employers cases.
It was always going to be hard to raise tax levels this year owing to the date of the budget being after the start of the year, owing to unfortunate circumstances which are FAR more important. From what I read, those of us who are contracted out of SERPS don't do too badly out of it though.
It was always going to be hard to raise tax levels this year owing to the date of the budget being after the start of the year, owing to unfortunate circumstances which are FAR more important. From what I read, those of us who are contracted out of SERPS don't do too badly out of it though.
Neil Pickup
Cricket Web Moderator
Hmm, from what else I've read over the last two days the budget seems a lot better than it did at first.
But if they got rid of the élitist divisive inequality-enhancing NI ceiling it would be far, far better
But if they got rid of the élitist divisive inequality-enhancing NI ceiling it would be far, far better
Neil Pickup
Cricket Web Moderator
Why? I like arguing! (Or participating in constructive discussion, as it's worded in the National Curriculum.)
marc71178
Eyes not spreadsheets
Besides this isn't an argument yet, it's discussion.
The NI ceiling going up isn't a bad thing IMO, but the number of companies that will now make around £9,500 profit per annum will cause a rethink in that change I believe.
I still think Corporation Tax is the thing that should be increased.
The NI ceiling going up isn't a bad thing IMO, but the number of companies that will now make around £9,500 profit per annum will cause a rethink in that change I believe.
I still think Corporation Tax is the thing that should be increased.
Paid The Umpire
All Time Legend
Just a second:
Is this the 5 minute arguement or the full course of 10?
Is this the 5 minute arguement or the full course of 10?
Neil Pickup
Cricket Web Moderator
And for once (well, I think that's three times in one week now), I will agree.
But it won't, because Labour are too far up big businesses to take any action about massive profits, obscene pay rises etc...
But it won't, because Labour are too far up big businesses to take any action about massive profits, obscene pay rises etc...
Neil Pickup
Cricket Web Moderator
Or for all profits over £50,000.
On a separate point, the French Elections are not good. Le Pen is a fascist and he cannot be allowed to win.
On a separate point, the French Elections are not good. Le Pen is a fascist and he cannot be allowed to win.
marc71178
Eyes not spreadsheets
Over £50,000 is very harsh to make a 40% band indeed. That would reduce enterprise as people see it as giving all the cash they make to the government. But 40% on all over say £2,000,000 would be interesting. At the moment the top band is 30% for over £1,500,000 - regardless of whether it's £1,500,001 or £150,000,000!
Neil Pickup
Cricket Web Moderator
That probably is too harsh. The system needs to be made purely progressive and not up/down as it is now
(£150k-£1.5m) = 32.75%
(£1.5m+) = 30%
That is definitely wrong!
(£150k-£1.5m) = 32.75%
(£1.5m+) = 30%
That is definitely wrong!
marc71178
Eyes not spreadsheets
It is wrong actually (what you put that is), that is the marginal relief formula which relies on calculating 20% of the first £150,000. What it does is to gradually scale the profits from £150k to £1.5m rather than have a huge jump (just imagine being taxed 20% on £1,499,999, or 30% on £1,500,000 - earning an extra £1 would cost the business £150,000.02!!!)
There's also one between £10k and £50k.
There's also one between £10k and £50k.
Neil Pickup
Cricket Web Moderator
What are you trying to say by that?
Neil Pickup
Cricket Web Moderator
My understanding of the CT laws is that the bands (not sure of the exact cutoffs) go:
Band 1 - 0%
Band 2 - 23.75%
Band 3 - 19%
Band 4 - 32.75%
Band 5 - 30%
Band 1 - 0%
Band 2 - 23.75%
Band 3 - 19%
Band 4 - 32.75%
Band 5 - 30%
marc71178
Eyes not spreadsheets
The 2nd and 4th are "effective bands" to aid the calculation of marginal relief. The main bands are the 0, 19, 30.
Although most companies are still paying the 10, 20, 30 with marginal relief.
What it means for the 2nd and 4th is that you are now taxed at 0 for the first 10,000 and 23.75 for the next 40,000 (I think).
Once you get to 50,000, you're taxed at 19 on all of it!
The 2nd and 4th bands just smooth out the increases in rate.
Although most companies are still paying the 10, 20, 30 with marginal relief.
What it means for the 2nd and 4th is that you are now taxed at 0 for the first 10,000 and 23.75 for the next 40,000 (I think).
Once you get to 50,000, you're taxed at 19 on all of it!
The 2nd and 4th bands just smooth out the increases in rate.
Neil Pickup
Cricket Web Moderator
I get you...
Well Explained
Well Explained
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