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UK politics - Hamsterwheel

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UK politics - Hamsterwheel

Old 8th Mar 2017, 13:59
  #8141 (permalink)  
 
Join Date: Sep 2007
Location: A little south of the "Black Sheep" brewery
Posts: 430
Am I the only one to have found that the Leader of the Opposition's reply to the budget belonged here: 56 37′ 8.25″ N, 3 56′ 47.56″ W and to it's 'twin'?

Fortunately I need a nap ... ... zzz !
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Old 8th Mar 2017, 14:04
  #8142 (permalink)  
 
Join Date: Sep 2011
Location: Scotland
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Didn't bother looking at a map but based on them thar co-ordinates and proximity to Scone, it wouldn't be that little Perthshire town of Dull and its US "twin would it?
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Old 8th Mar 2017, 14:06
  #8143 (permalink)  
 
Join Date: May 2011
Location: Hampshire
Age: 74
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I am rather surprised the PPRuNe bloodletting hasn't yet kicked off! It is over an hour since the budget and not a peep here (other than that from Trossie).
Move over, Trossie; I too need a nap!
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Old 8th Mar 2017, 20:20
  #8144 (permalink)  
 
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I am rather surprised the PPRuNe bloodletting hasn't yet kicked off! It is over an hour since the budget and not a peep here (other than that from Trossie).
'Cos the only people really clobbered were the self-employed, and the usual suspects here are mostly decades into retirement?
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Old 8th Mar 2017, 20:31
  #8145 (permalink)  
 
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Hardly clobbered is it, 1% this year and 1% next year is not exactly going to ruin anyone. Offset that against the 3k rise in the 40% threshold and I doubt anyone is going to massively impact and I did hear this evening it was only an average of about 60p a week.

Tells you a lot when the only thing the BBC can find to "scratch at" and are desperately trying to spin the fact that the Tory's have gone back on a manifesto promise.
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Old 8th Mar 2017, 20:33
  #8146 (permalink)  
 
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... and the usual suspects here are mostly decades into retirement
Speak for yourself!!
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Old 8th Mar 2017, 21:12
  #8147 (permalink)  
 
Join Date: Nov 2009
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Originally Posted by Trossie View Post
Speak for yourself!!
Agreed we aren't all superannuated by any means
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Old 8th Mar 2017, 22:56
  #8148 (permalink)  
 
Join Date: Oct 2011
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I am! And proud of it!!
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Old 8th Mar 2017, 23:23
  #8149 (permalink)  
 
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Still 59 here but happily retired.
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Old 8th Mar 2017, 23:41
  #8150 (permalink)  
 
Join Date: Mar 2009
Location: SW England
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OK, I'll bite.

I cant remember the chancellors exact words, but his excuse for raising NI contributions for the self employed was that they get virtually the same benefits as the employed.

Now maybe I slept through this, but do I understand that the self employed now get sick pay, holiday pay and maternity (or paternity benefits)? No? Well that's the impression he was giving. I spent two thirds of my working life self employed, during which time the longest holiday I ever took was seven days (couldn't afford to earn nothing for any longer). Never got any sick pay in the three months I was receiving treatment for cancer (I worked through most of it). The slightly reduced NI contribution I paid in no way compensated for the loss of benefits which would have been an entitlement to anyone in employment, so to take any of that away, in spite of a manifesto agreement not to, is just kicking several million mainly Tory supporters like me in the teeth! And SFFP, I am right behind the BBC in pointing that out.
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Old 9th Mar 2017, 03:38
  #8151 (permalink)  
 
Join Date: Feb 2008
Location: Southwold
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Self employed from forty years ago next month. I met up with a couple of class mates from school last week and we enjoyed a very good evening of shooting the breeze. One thing we were in total agreement on was the huge benefits that such a lifestyle has given us. Taking everything into account I don't think that you can compare the two. I have another friend who earns a massive salary working for a company, the trouble is that they own him too.
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Old 9th Mar 2017, 07:17
  #8152 (permalink)  
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Originally Posted by Seldomfitforpurpose View Post
Hardly clobbered is it, 1% this year and 1% next year is not exactly going to ruin anyone. Offset that against the 3k rise in the 40% threshold and I doubt anyone is going to massively impact and I did hear this evening it was only an average of about 60p a week.

Tells you a lot when the only thing the BBC can find to "scratch at" and are desperately trying to spin the fact that the Tory's have gone back on a manifesto promise.
Given you have spent a wasted lifetime being paid by the state, you are unlikely to even begin to understand the term "cumulative effect" for the self-employed and the probable detrimental effects of passing on personal financial expenditure to customers.

Not forgetting the fact you may also have customers who are also self-employed and will now be facing the same increases as yourself and thus how they are also going to cope.

That, and given the variety of self-employed occupations, extra costs can only be absorbed so far if you wish to remain competitive. The harsh reality of civilian working life, and self-employment in particular, is that you have to be able to provide whatever service your customers are looking for, at a competitive price, or, you don't get the work and even then you can be faced with the marked reluctance of getting payment from a customer.

And lets assume you own business premises.....again, you seem to have totally ignored, or be completely oblivious to, the significant increases in business rates which are due to be imposed, with very little by way of an appeal process, in the very near future.

Your beloved Tory party has reneged on a promise, not unsurprisingly, not to increase NI and has also targeted a group, who, in recent times, have become more prolific and certainly proved useful when it comes to claims regarding the employment statistics.

Your dismissive comments about how minimal the increase is show, yet again, you live in a world that is so insular and why you chose not to have the resolve to enter it at some point in your working life, preferring instead the cosseted and protected environment of the military.

" and I'll bet he pays an eye-watering amount of income tax which the self-employed person can avoid through the use of a limited company and having the spouse and child(ren) as directors.

Although retired I still work as a consultant through my own little service company. I'm more annoyed about the ending of the flat-rate VAT scheme. It's going to create more unwanted administrative work. I'm going to consider doing less work so that I generate income below the VAT threshold instead of just above it and de-registering my company. HMRC will then not be collecting the s VAT per year that it has been paying. Such are the unintended consequences. Well done, chancellor

Oh dear, that's not very patriotic now is it.

And, if you deregister, and become, presumably, a sole trader, that status is fine, in principle, but can come back to bite you very hard when matters go wrong between yourself and a customer.
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Old 9th Mar 2017, 07:19
  #8153 (permalink)  
 
Join Date: Aug 2003
Location: Hampshire physically; Perthshire and Pembrokeshire mentally.
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Self employed from forty years ago next month. I met up with a couple of class mates from school last week and we enjoyed a very good evening of shooting the breeze. One thing we were in total agreement on was the huge benefits that such a lifestyle has given us. Taking everything into account I don't think that you can compare the two. I have another friend who earns a massive salary working for a company, the trouble is that they own him too.
...and I'll bet he pays an eye-watering amount of income tax which the self-employed person can avoid through the use of a limited company and having the spouse and child(ren) as directors.

Although retired I still work as a consultant through my own little service company. I'm more annoyed about the changes to the flat-rate VAT scheme and the introduction of quarterly reporting. It's going to create more unwanted administrative work and put up my accountants charges. I'm going to consider doing less work so that I generate income below the VAT threshold instead of just above it and de-registering my company. HMRC will then not be collecting the s VAT per year that it has been paying. Such are the unintended consequences. Well done, chancellor.

Last edited by Wingswinger; 9th Mar 2017 at 07:55.
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Old 9th Mar 2017, 07:37
  #8154 (permalink)  
 
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"White van man" will simply adjust the earnings he declares to offset the increase in NI. Let's see how much of this 170 million tax take actually transpires.
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Old 9th Mar 2017, 08:01
  #8155 (permalink)  
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Originally Posted by sitigeltfel View Post
"White van man" will simply adjust the earnings he declares to offset the increase in NI. Let's see how much of this 170 million tax take actually transpires.
Siti,

Such blissful innocence here...

HMRC may be shade reluctant to take on the " big boys" when it comes to tax, but they will certainly take a very close interest in the lower end of the tax regime as somebody whom I once knew in passing found out to his cost.
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Old 9th Mar 2017, 08:18
  #8156 (permalink)  
 
Join Date: Feb 2007
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Originally Posted by sitigeltfel View Post
"White van man" will simply adjust the earnings he declares to offset the increase in NI. Let's see how much of this 170 million tax take actually transpires.
The biggest tax loss to the country comes in the exact manner you mention but somehow it's considered OK if the minnows dodge a bit of tax.

Giggle, Costa and the like are harangued for employing smart accountants to manage their tax affairs in the most legally efficient manner but Bob the Builder doing the odd 'foreigner' out of hours is considered perfectly normal, funny old world we live in.
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Old 9th Mar 2017, 08:30
  #8157 (permalink)  
 
Join Date: Aug 2003
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But Bob the Builder is not making any extra profit in so doing. He's not getting an extra rip-off from his customers who benefit by not paying VAT. He's simply defrauding HMRC. Google, Costa and Starbucks etc are taking massive amounts of cash from UK consumers while contributing little in tax.
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Old 9th Mar 2017, 10:09
  #8158 (permalink)  
 
Join Date: Apr 2002
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Originally Posted by Wingswinger View Post
...and I'll bet he pays an eye-watering amount of income tax which the self-employed person can avoid through the use of a limited company and having the spouse and child(ren) as directors.

Although retired I still work as a consultant through my own little service company. I'm more annoyed about the changes to the flat-rate VAT scheme and the introduction of quarterly reporting. It's going to create more unwanted administrative work and put up my accountants charges. I'm going to consider doing less work so that I generate income below the VAT threshold instead of just above it and de-registering my company. HMRC will then not be collecting the s VAT per year that it has been paying. Such are the unintended consequences. Well done, chancellor.
I've used the flat rate scheme, it really isn't that much work, and you benefit by charging VAT at 20% and paying it to HMRC at a lower rate as you don't have to claim back VAT on all expenses. In my case I think it was 14%.

Completing the return was a matter of putting 3 or 4 numbers in online and paying what was due. Took me less than half an hour a quarter.
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Old 9th Mar 2017, 10:49
  #8159 (permalink)  
 
Join Date: Aug 2003
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Yes, but my point is that it is changing from the 1st of April. I have yet to find the time to digest the changes but it won't be good news, I'm sure.
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Old 9th Mar 2017, 12:22
  #8160 (permalink)  
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That Liberal Elite political correctness thing again.

Nick Booth: How I was found guilty of fascism in a South London pub
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