Lloyd90 Posted March 8, 2017 Report Share Posted March 8, 2017 Will be following this through out the day, Anyone want to hazard any predictions? Quote Link to comment Share on other sites More sharing options...
old man Posted March 8, 2017 Report Share Posted March 8, 2017 Yep! Won't benefit ordinary working bods! Quote Link to comment Share on other sites More sharing options...
Lord v Posted March 8, 2017 Report Share Posted March 8, 2017 On a purely selfish level I'm hoping for a massive injection of cash into house building and infrastructure. (it pays the bills) Pure win would be to see local government being able start building their own housing stock. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted March 8, 2017 Author Report Share Posted March 8, 2017 Yep! Won't benefit ordinary working bods! Increase of the tax free allowance projected to make £11,500 and possible increase of the 40% threshold to £47,500 would I imagine put some money in the pockets of 'ordinary working bods'. I do agree it probably won't make a significant difference but still. Quote Link to comment Share on other sites More sharing options...
old'un Posted March 8, 2017 Report Share Posted March 8, 2017 Think it will be a fairly dull budget, it will be interesting to see how much he hammers diesel cars, new and old. Quote Link to comment Share on other sites More sharing options...
Munzy Posted March 8, 2017 Report Share Posted March 8, 2017 Drop in tax free allowance from £5k to £2k on dividends is fairly significant. Quite a stand up routine the honourable gentleman has going, quite a few jokes being thrown at Corbyn. He doesn't look impressed... tough crowd! Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted March 8, 2017 Author Report Share Posted March 8, 2017 Drop in tax free allowance from £5k to £2k on dividends is fairly significant. Quite a stand up routine the honourable gentleman has going, quite a few jokes being thrown at Corbyn. He doesn't look impressed... tough crowd! Yes and a 2% rise in NI for the self employed. Clamping down on those going self employed just to avoid tax I think. Quote Link to comment Share on other sites More sharing options...
islandgun Posted March 8, 2017 Report Share Posted March 8, 2017 I'm guessing he will announce a huge decrease in MP's wages Quote Link to comment Share on other sites More sharing options...
sportsbob Posted March 8, 2017 Report Share Posted March 8, 2017 An increase from 10% to 12% is an increase of 20% not 2% Quote Link to comment Share on other sites More sharing options...
winnie&bezza Posted March 8, 2017 Report Share Posted March 8, 2017 And I've just gone self employed haha Quote Link to comment Share on other sites More sharing options...
Wb123 Posted March 8, 2017 Report Share Posted March 8, 2017 It looks to slightly improve the playing field between paye and going limited. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted March 8, 2017 Author Report Share Posted March 8, 2017 An increase from 10% to 12% is an increase of 20% not 2% I believe I said a rise of 2% not an increase? 10% going to 12% is a 2% rise is it now? I agree it is a 20% increase. Apologies if I'm wrong. Quote Link to comment Share on other sites More sharing options...
Paul1440 Posted March 8, 2017 Report Share Posted March 8, 2017 (edited) Yes and a 2% rise in NI for the self employed. Clamping down on those going self employed just to avoid tax I think.About time too. Thousands have opted to do the same job as they did as a full time emplyee to save a fortune on tax. They tried to sell it to me too. Edited March 8, 2017 by Paul1440 Quote Link to comment Share on other sites More sharing options...
sportsbob Posted March 9, 2017 Report Share Posted March 9, 2017 (edited) ¥ Edited March 9, 2017 by sportsbob Quote Link to comment Share on other sites More sharing options...
AVB Posted March 9, 2017 Report Share Posted March 9, 2017 About time too. Thousands have opted to do the same job as they did as a full time emplyee to save a fortune on tax. They tried to sell it to me too. It's become a bit of a plague. A lot of companies across many sectors have started to push people down this route. It is a 'win-win' for employee and employer. The only loser was HMRC. Quote Link to comment Share on other sites More sharing options...
sportsbob Posted March 9, 2017 Report Share Posted March 9, 2017 It's become a bit of a plague. A lot of companies across many sectors have started to push people down this route. It is a 'win-win' for employee and employer. The only loser was HMRC. No the self employed still looses because there is no pension input from the employer, no sick pay, no Holliday pay, no maternity or paternity pay, no employee's rights regarding dismissel etc etc. To make it about equal the person would need approximately 25% more take home pay. With the extra 25% they could use half of it for the months holiday they lose and the rest towards some sort of pension. Quote Link to comment Share on other sites More sharing options...
AVB Posted March 9, 2017 Report Share Posted March 9, 2017 No the self employed still looses because there is no pension input from the employer, no sick pay, no Holliday pay, no maternity or paternity pay, no employee's rights regarding dismissel etc etc. To make it about equal the person would need approximately 25% more take home pay. With the extra 25% they could use half of it for the months holiday they lose and the rest towards some sort of pension. From what I have seen and heard from colleagues 'day rates' for contract staff more than make up for the loss of benefits you mention. It needs to be attractive to the 'employee' otherwise why would they bother? Quote Link to comment Share on other sites More sharing options...
wandringstar Posted March 9, 2017 Report Share Posted March 9, 2017 I think he was referring to a self employed person like an electrician, of whom there are millions, someone who is truly self employed and relying on himself and his wits 100% every day. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted March 9, 2017 Report Share Posted March 9, 2017 (edited) It's become a bit of a plague. A lot of companies across many sectors have started to push people down this route. It is a 'win-win' for employee and employer. The only loser was HMRC. The companies are doing it to avoid employers liabilities not to benefit the employee. Its not a win for the employee in the long term, when they lose all their rights, can't get mortgages etc The short term gains always look attractive, but then they would Edited March 9, 2017 by Vince Green Quote Link to comment Share on other sites More sharing options...
wymberley Posted March 9, 2017 Report Share Posted March 9, 2017 Bearing in mind I have to rely on the TV sub-titles and judging by some of the looks on May's face, I thought Corbyn did well in his speech. Also thought that the Lady's imitation of Ted Heath's laugh was very good. Quote Link to comment Share on other sites More sharing options...
KFC Posted March 9, 2017 Report Share Posted March 9, 2017 Nice to see he's tackling tax-dodging big corporations to make a fairer tax burden, not Quote Link to comment Share on other sites More sharing options...
sportsbob Posted March 9, 2017 Report Share Posted March 9, 2017 I think he was referring to a self employed person like an electrician, of whom there are millions, someone who is truly self employed and relying on himself and his wits 100% every day. I was, day rate in the building trade is probably the most overpaid and abused system there could be. Quote Link to comment Share on other sites More sharing options...
AVB Posted March 9, 2017 Report Share Posted March 9, 2017 The companies are doing it to avoid employers liabilities not to benefit the employee. Its not a win for the employee in the long term, when they lose all their rights, can't get mortgages etc The short term gains always look attractive, but then they would It's not always companies that are pushing employees down this route. I know quite a few people who have asked to leave 'employment' and rejoin as a 'contractor'. Quote Link to comment Share on other sites More sharing options...
mick miller Posted March 9, 2017 Report Share Posted March 9, 2017 (edited) To be fair, those in your game are quite a bit different to small business, self funding, self-employed people. For a start the renumeration annually is substantially less for most (see almost all) other sectors. When you're already operating and surviving on small margins I don't think this is a great move. No sick pay, no holiday pay, no guaranteed minimum wage, you can't really up your rates to compensate for the increase and for most sectors there isn't a substantial 'increase' in rates between those doing the job as employees as opposed to those self employed. Whichever way you look at it its a bad move for the small, independent and genuinely self-employed and one that won't play well when election time comes around. Close the loophole to those abusing the system by all means, but to punish all those that genuinely work for themselves seems a bit too much stick and not enough carrot. Edited March 9, 2017 by mick miller Quote Link to comment Share on other sites More sharing options...
mick miller Posted March 9, 2017 Report Share Posted March 9, 2017 Hang on, I've just gone through my last two years accounts. I'm going to be a little bit worse off annually, but not by much. Hmmm, maybe the Hamster got it right after all? Quote Link to comment Share on other sites More sharing options...
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