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Tomorrow's Budget... good or bad for contractors using Ltd companies?

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    Tomorrow's Budget... good or bad for contractors using Ltd companies?

    From the BBC:
    We know that from Tuesday many of us will start paying more tax and receiving fewer public services.
    But on the other hand:
    we know that corporation tax will be cut and there will be modest National Insurance holidays for companies creating jobs outside London and south-east England
    So, specifically for contractors working through their own companies, what do we expect?
    Some measure of serious discussion is welcome, amongst the usual spite and whinging

    Damn it, I can't edit the typo in my poll title!
    18
    Better off?
    5.56%
    1
    Worse off, but not as bad as for permies
    16.67%
    3
    Worse off
    33.33%
    6
    Worse off, even harder hit than permies
    16.67%
    3
    Bugger all difference
    16.67%
    3
    We should ask AtW
    11.11%
    2
    Last edited by d000hg; 21 June 2010, 16:58.
    Originally posted by MaryPoppins
    I'd still not breastfeed a nazi
    Originally posted by vetran
    Urine is quite nourishing

    #2
    Originally posted by d000hg View Post
    From the BBC:

    We know that from Tuesday many of us will start paying more tax and receiving fewer public services.
    <pedant>
    To be precise, excise duty on booze 'n' fags or tax on fuel may come in at a new rate tomorrow at the factory gate, but many folks won't start paying until new stocks arrive at their local suppliers.

    Unless there are exceptional circumstances, VAT and tax rises usually come in on a specified date in the future.
    </pedant>
    Behold the warranty -- the bold print giveth and the fine print taketh away.

    Comment


      #3
      Who but an utter, utter, utter moron would expect the budget to make them any better off - that has never been what it was about, under any government, ever.

      Comment


        #4
        Originally posted by Peoplesoft bloke View Post
        Who but an utter, utter, utter moron would expect the budget to make them any better off - that has never been what it was about, under any government, ever.
        There must have been a good budget once. Otherwise taxes would be infinite.
        Cats are evil.

        Comment


          #5
          The oppressive taxes under nuLieBore were the best thing that could have happened to me ......























          .... it motivated me to leave the country and set up business abroad.
          How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

          Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
          Xeno points: +5 - Asperger rating: 36 - Paranoid Schizophrenic rating: 44%

          "We hang the petty thieves and appoint the great ones to high office" - Aesop

          Comment


            #6
            How about this for an idea?

            Instead of wildly guessing, why not wait 16 hrs and find out?

            Comment


              #7
              Originally posted by DimPrawn View Post
              How about this for an idea?

              Instead of wildly guessing, why not wait 16 hrs and find out?
              Is that the kind of thinking on which your CUK history is based? Not that a dim-witted urchin such as yourself would be any the wiser with the facts to hand.
              Originally posted by MaryPoppins
              I'd still not breastfeed a nazi
              Originally posted by vetran
              Urine is quite nourishing

              Comment


                #8
                I think we could be in for a little Brucie bonus!
                What happens in General, stays in General.
                You know what they say about assumptions!

                Comment


                  #9
                  How much better off were LTD company contractors under any Labour budget?

                  Remember the one that added IR35?

                  Remember the Work Permit frenzy to fill the "skills gap" just after the Dot Com crash?

                  Remember the one that added increased Corp Tax for small businesses whilst cutting it for large businesses?

                  Comment


                    #10
                    Originally posted by Peoplesoft bloke View Post
                    Who but an utter, utter, utter moron would expect the budget to make them any better off - that has never been what it was about, under any government, ever.
                    Really? Those on low incomes are much better off with free doctors and dental care and benefits than 50 years ago.

                    Plus they were talking about reducing how much tax poor people pay, since it doesn't raise much anyway.

                    Plus us contractors are a small minority, and as such could catch a break if they want to encourage small companies.
                    Originally posted by MaryPoppins
                    I'd still not breastfeed a nazi
                    Originally posted by vetran
                    Urine is quite nourishing

                    Comment

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