The Budget Thread

[dizzyblonde]

I am surprised nobody has posted one up...

.....air your grumbles here!!!!

[Biker Biggles]

I have heard endless gripes over the years about how Gordon Brown robbed the private pensions,and a lot more recent gripes about how this lot are robbing public sector pensions,but I think today's rather muted statement about taxing pensioners income will prove to be the talking point when the full implications unfold.

As for the 50% tax rate thing,they really cant have it both ways.Either it has been a failure because it raises so little money or it is a huge drain on the movers and shakers who boot up the economy.It cant really be both yet to hear the squeals from the wealthy about it over the last few months,you would think it was bankrupting them,but Osbourne today said it was a tiny amount of money.

[EssexDave]

Pretty standard.

Personal allowance making average person £10pm better off.
fuel staying same but VED increasing with inflation.
Corporation tax cut by 1% (woo) but bank levy increased to prevent banks getting a big advantage in corporation tax cut.

Cigarette duty up 5% above inflation (bbc estimates this at about 37p per pack of cigs).

[timwilky]

He gives with one hand and takes with the other.

Raising the basic rate tax threshold is welcome. I think there is something wrong where minimum rate employees must pay tax. but then lowering the 40% threshold means that those on "higher" rate see no advantage of the raise in the basic rate threshold.

As for the age related tax limits I see little point to them. Costs do not significantly rise because you are older unless you require care/assistance and then you get benefit help for those needs.

[hardhat_harry]

First budget in ages where I dont feel I'm paying for everyone elses benefits.

Good I say!!

[NTECUK]

But a major part of your tax is still spent on welfare :o

The system on that needs major overhauling.

[Mr Speirs]

I still can't understand how they've not thought to reduce fuel duty to reduce and stabilise the cost of fuel to £1 a litre.

Fuel runs the entire economy, everything has become more expensive due to the cost of moving products and people. It's affecting everything from the idividual, small business to large corpoations. I understand that they don't want to be seen to encourage pollution and all that but at what cost? The entire collapse of the world economy?
If the cost of fuel was stabilsed to £1 a litre I personally think that the UK economy will be massively boosted.

I agree that we need to limit our reliance on fossil fuels but until an alternative is viable then we either spiral to doom or reduce the burden.

If you actually go through and look at how much tax there are its a wonder how we are in a crisis at all.

Income tax
Fuel Duty
VAT
Captial Gains Tax
Inheritance Tax
Council Tax
National Insurance
VED
Stamp Duty
Fuel Tax (household)
Airport Tax
Lottery Duty
Achoholic Liquor Duty
Tobacco Duty
Climate Change Levy
Hydrocarbon Oils Duty
Landfill Tax
Insurance Premium Tax
Customs Duty
plus loads more.

[Littlepeahead]

The hike in personal tax allowance is a good thing, but I need to find an expert to work out paying a bit more into my pension to avoid paying 40%, but as soon as I start thinking about it my brain melts. Anyone know a good financial advisor?

The one tax that really really bugs me is that I get private medical insurance through work. Because it is taxed as a benefit I pay tax on the value (around £700 a year) but by having this I have saved the NHS over £20,000 in the last 3 years with 2 operations done privately, where I paid a portion of the treatment costs myself, yet I get taxed for freeing up an NHS bed.

[Dipper]

The one tax that really really bugs me is that I get private medical insurance through work. Because it is taxed as a benefit I pay tax on the value (around £700 a year) but by having this I have saved the NHS over £20,000 in the last 3 years with 2 operations done privately, where I paid a portion of the treatment costs myself, yet I get taxed for freeing up an NHS bed.
It's the same if you send your kids to private school or any other private service you choose to take that saves the State money.

[Bibio]

the government could offset fuel prices by doing away with VAT returns, this would mean you would pay vat on everything as a company as well as an individual.

stop the stupid 'make the rich pay' attitude and start giving them intensives to want to stay in this god forsaken taxed to the hilt shizz hole of a country of ours. why should the super rich pay more in tax, this might just let them take on more staff or charge less for their services/goods.

interest rates on credit cards/loans are high enough without hitting the banks with more charges all the government is doing is forcing them to put their prices up to cover their losses.

[dizzyblonde]

I still can't understand how they've not thought to reduce fuel duty to reduce and stabilise the cost of fuel to £1 a litre.

Fuel runs the entire economy, everything has become more expensive due to the cost of moving products and people. It's affecting everything from the idividual, small business to large corpoations. I understand that they don't want to be seen to encourage pollution and all that but at what cost? The entire collapse of the world economy?
If the cost of fuel was stabilsed to £1 a litre I personally think that the UK economy will be massively boosted.

I agree that we need to limit our reliance on fossil fuels but until an alternative is viable then we either spiral to doom or reduce the burden.

If you actually go through and look at how much tax there are its a wonder how we are in a crisis at all.

Income tax
Fuel Duty
VAT
Captial Gains Tax
Inheritance Tax
Council Tax
National Insurance
VED
Stamp Duty
Fuel Tax (household)
Airport Tax
Lottery Duty
Achoholic Liquor Duty
Tobacco Duty
Climate Change Levy
Hydrocarbon Oils Duty
Landfill Tax
Insurance Premium Tax
Customs Duty
plus loads more.

=D>
When the earner of the house has to go to work in a vehicle 20 miles away, that takes away money for other things in the household, we were hoping there would be some sort of fuel cut
My father currently spends 90quid a week on fuel just to go to work.
A fella running a haulage firm was on the beeb the other week and says his fuel costings have gone up 25% since 2008, or was it 2010? Either way, he has to keep passing it onto his customers, review his truck pool, and shed some vehicles and people, just to stop the costs rising for his customers....bad, bad bad! His customers can of course go elsewhere, but everyone is paying through the nose for fuel

Pegs having to use the bike, and as a family we have to reshuffle, and shed some vehicles just so he can go work more economically.......the most economical vehicle of the lot is having to go, because the roads are so dangerously potholed and undermaintained, hes having to readdress riding a bike to work for cost and safety!!



stop the stupid 'make the rich pay' attitude and start giving them intensives to want to stay in this god forsaken taxed to the hilt shizz hole of a country of ours.

.

Its funny, folk go on about how bad the Greek economy is, which as a side note is being hidden from view right now, bail outs are hiding under the carpet with none stories, fact of the matter is its no better.... do you not think that the UK is actually not much better off, and really its like the Greeks but wrapped up with fancy ribbons and whistle on, just to make it look like its FINE?
Make us want to go flee the country and we ain't rich!

[NTECUK]

The hike in personal tax allowance is a good thing, but I need to find an expert to work out paying a bit more into my pension to avoid paying 40%, but as soon as I start thinking about it my brain melts. Anyone know a good financial advisor?

The one tax that really really bugs me is that I get private medical insurance through work. Because it is taxed as a benefit I pay tax on the value (around £700 a year) but by having this I have saved the NHS over £20,000 in the last 3 years with 2 operations done privately, where I paid a portion of the treatment costs myself, yet I get taxed for freeing up an NHS bed.
Well You'd probly still be waitting to have the Ops done.

I don't earn enough to worry about tax avodance and will likely have to work till I shift this motal coil so not worred about a pension.

[davepreston]

winkers put my cigs up 37p barstewards

[maviczap]

winkers put my cigs up 37p barstewards

Give up, save yourself a packet ;)

[Bibio]

winkers put my cigs up 37p barstewards

yup great ain't it. take an addictive substance and put the price up which effects the poor people the most as the large majority of people that smoke are the poor.

when are the feckwits going to learn that people will pay what ever it takes when tobacco is concerned as it's addictive and putting the price up is not going to stop them smoking it's just going to affect the household income which is just going to get them more depressed so they will smoke more.

[shonadoll]

Should have been a fuel cut, and also a tax on crap fat filled foods, to ease the obesity epidemic. Smokers get taxed enough, only fair.

[shonadoll]

The hike in personal tax allowance is a good thing, but I need to find an expert to work out paying a bit more into my pension to avoid paying 40%, but as soon as I start thinking about it my brain melts. Anyone know a good financial advisor?

The one tax that really really bugs me is that I get private medical insurance through work. Because it is taxed as a benefit I pay tax on the value (around £700 a year) but by having this I have saved the NHS over £20,000 in the last 3 years with 2 operations done privately, where I paid a portion of the treatment costs myself, yet I get taxed for freeing up an NHS bed.

You shouldn't be taxed on that, unfair. It benefits employers if you are seen sooner, and takes pressure off the NHS. Nuts.

[NTECUK]

You should be taxed on what you earn.
Get tax back on things you need for your job like tool's, training ,protective equipment,child care and transport cost .

[Gazza77]

yup great ain't it. take an addictive substance and put the price up which effects the poor people the most as the large majority of people that smoke are the poor.

when are the feckwits going to learn that people will pay what ever it takes when tobacco is concerned as it's addictive and putting the price up is not going to stop them smoking it's just going to affect the household income which is just going to get them more depressed so they will smoke more.

Perhaps they wouldn't be quite as poor if they stopped. ;)

[Gazza77]

You should be taxed on what you earn.
Get tax back on things you need for your job like tool's, training ,protective equipment,child care and transport cost .

Pretty much all of the thing you've listed already have taxable allowances so you arent taxed on them. That does seem fair to me, so I agree with your point though. :)

[NTECUK]

Train fairs .don't get a tax break.
More people would use trains if they got a break .

[Tim in Belgium]

According to the bbc online calculator I'll be £116 better off, that sounds like an extra track day to me, happy days!

[Gazza77]

Train fairs .don't get a tax break.
More people would use trains if they got a break .

Rail fares are extortionate at times I have to agree, although when I used to commute by train & bus the annual cost was approximately half of what I now pay to travel by car, despite the fact that my old commute was twice as far. Trains are already very heavily subsidised by the taxpayer however, so that is a form of tax break in a way.

According to the bbc online calculator I'll be £116 better off, that sounds like an extra track day to me, happy days!

Exactly the same as me. If I add my wife to equation, we* become £274 better off.

* She becomes £274 better off. :rolleyes:

[timwilky]

the BBC calculator reckons the Wilkies will be £286 better off. £127 for me.

[NTECUK]

I think any rise in allowance is.offset by my hot pie 20% increase :(

[Littlepeahead]

This morning on my £4300 (after tax) commute I've had to get a bus replacement service half way then the train is restricted to 15mph. So far been travellibg 2 hours with around a further hour ahead of me. I'm not really feeling the subsidy on the railway benefitting me this morning.

[mister c]

According to the BBC Calculator I will be £138.16 better off. What about the 3p per litre they will be adding later this year? has that been taken into consideration?
We can't do anything about it anyway, so what will be will be

[NTECUK]

It's not pikeys nicking the cables again?

[NTECUK]

According to the BBC Calculator I will be £138.16 better off. What about the 3p per litre they will be adding later this year? has that been taken into consideration?
We can't do anything about it anyway, so what will be will be
Come the revreloution the government is The first against the wall. ;)
Pie in hand I'll be there ....

[dizzyblonde]

Pie you say......do we get to throw custard pies at them in your revolution NTec?

Where is this online calculator, I could do with a laff!

[NTECUK]

The best pie has to be a cornish pastie.
But not the ones from the shop at Tentagle, too tasty ;)

[Runako]

When you said "Budget" I thought you meant maintaining the SV on a "Budget" :)