Budget 2011

[SimonMac]

(Mods wasn't sure which forum this best sat in so apologies in advance if you have to move)

Looks like tomorrows budgets gonna be an interesting one for us, I am sceptical of anything that I have read about changes to IR35 being an overall benefit for us, but seen as the main purpose of the legislation was to stop us using loopholes to avoid tax they will find another way to shaft us!

[MrRobin]

Yup should be interesting... although I'm sure it will get about 10 seconds of airtime and will just be buried in the spin. Will take some serious reading to find out what they're really doing.

On the cards we have:

Merger of PAYE & NI
No additional fuel duty
No additional airport taxes
17p on 20 cigs
51p on 1L spirits
5p on a pint
No m/paternity pay for employees of companies < 10 staff


Any other leaks?

[Jog On]

(Mods wasn't sure which forum this best sat in so apologies in advance if you have to move)

Looks like tomorrows budgets gonna be an interesting one for us, I am sceptical of anything that I have read about changes to IR35 being an overall benefit for us, but seen as the main purpose of the legislation was to stop us using loopholes to avoid tax they will find another way to shaft us!

I'm hopeful that the accounting/tax efficiency industry will adapt accordingly...

[TheFaQQer]

It would be a brave suicidal government that merges NI and PAYE because it will show exactly how much income tax people really pay.

[OwlHoot]

It would be a brave suicidal government that merges NI and PAYE because it will show exactly how much income tax people really pay.

WHS - Despite the huge savings in bureaucracy, I reckon they'll bottle that one.

OTOH, if people really know how much tax they pay, it could be a big disincentive to vote for a party (Labour, say) that refused to commit to reducing them.

[doodab]

It would be a brave suicidal government that merges NI and PAYE because it will show exactly how much income tax people really pay.

I think it's a brilliant idea, seeing as most people aren't so thick that they can't read the numbers on their payslip. Anything else is a cop out and shows what a bunch of pussies we elected.

They should make private health insurance work in the same way that pension contributions do as well, i.e. you get a refund on some of the tax/NI you paid.

[VectraMan]

I can't imagine we'll see anything drastic on income tax and NI,or IR35, but there'll probably be some vague promise to continue to review it.

[AtW]

Merger of PAYE & NI

It won't happen - political suicide.

The best is that he'll create some commission to waste taxpayer money for many years in order to examine different options for next Parliament.

HTH

[Platypus]

They should make private health insurance work in the same way that pension contributions do as well, i.e. you get a refund on some of the tax/NI you paid.

I'm sure Maggie tried that, there was uproar.

[PAH]

With public borrowing out of control isn't the govermin just pissing in the wind with all these austerity measures and cuts?

If they are borrowing over 10bln per month, why bother putting the squeeze on the nation for a few bln saving? Because they know we're a nation of whingers not rioters?

BBC News - Public borrowing hits record high for month of February

"Net debt, which is the sum of all borrowing, was £875.8bn, the ONS said. That is equivalent to 58% of GDP or total economic output. This time last year, the total was £729.9bn, or 50.8% of GDP"

Isn't a devaluing of the pound (via inflation or 'quantitive easing') the only solution the govermin is really relying on to avoid bankruptcy, and all these cuts and measures are just a smoke screen? That or never intend paying it back and just hand the debt down the generations.