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oldpink |
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oldpink World Chat Champion
Joined: 02 Aug 2006 Karma :
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Posted: 14:10 - 09 Jul 2015 Post subject: |
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a lot of people worse off
Quote: | Thirteen million UK families will lose an average of £260 a year due to Budget changes to working-age benefits, says the Institute for Fiscal Studies (IFS).
Tax credit changes could hit three million families, which are likely to lose an average of £1,000, it said.
Even taking into account higher wages, people receiving tax credits would be "significantly worse off," said Paul Johnson, director of the IFS.
The chancellor said most workers would be better off under Budget changes.
The biggest impact on families will come from the freeze in working age benefits and the changes to tax credits, said Mr Johnson.
"It will reduce the incentive for the first earner in a family to enter work," he said. |
____________________ I have become comfortably numb
Theory & hazard 24-may 2016, CBT 8th June 2016, MOD 1 2nd Aug 2016 Mod 2 2nd-Nov 2016 - Current bike CBR 600 RR |
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Ribenapigeon |
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Ribenapigeon Super Spammer
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Posted: 15:30 - 09 Jul 2015 Post subject: |
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He did look very smug. It reminded me of when Blairs lot out-toried the Tories in the late 90's - early 2000's. How the wheel turns. |
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Ste |
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Ste Not Work Safe
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oldpink |
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oldpink World Chat Champion
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Ribenapigeon |
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Ribenapigeon Super Spammer
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_mjs_ |
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_mjs_ Could Be A Chat Bot
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thx1138 |
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thx1138 World Chat Champion
Joined: 06 Oct 2005 Karma :
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Posted: 21:31 - 09 Jul 2015 Post subject: |
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I'm about £80 a year better off according to the bbc calculator. |
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- Super Spammer
Joined: 22 Oct 2013 Karma :
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Posted: 21:59 - 09 Jul 2015 Post subject: |
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oldpink wrote: | a lot of people worse off
Quote: | Thirteen million UK families will lose an average of £260 a year due to Budget changes to working-age benefits, says the Institute for Fiscal Studies (IFS).
Tax credit changes could hit three million families, which are likely to lose an average of £1,000, it said.
Even taking into account higher wages, people receiving tax credits would be "significantly worse off," said Paul Johnson, director of the IFS.
The chancellor said most workers would be better off under Budget changes.
The biggest impact on families will come from the freeze in working age benefits and the changes to tax credits, said Mr Johnson.
"It will reduce the incentive for the first earner in a family to enter work," he said. |
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13 million families..... There are only 18 million legally in the whole country according to the last census. Left wing b0llocks. ____________________ TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
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owl10 |
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owl10 Could Be A Chat Bot
Joined: 09 Apr 2010 Karma :
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grr666 |
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grr666 Super Spammer
Joined: 16 Jun 2014 Karma :
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Posted: 00:07 - 10 Jul 2015 Post subject: |
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Naff all to do with status, it's to do with wealth.
Wealth creates status, even in those with no breeding.
Just because you are posh it doesn't mean you are loaded and just because you are a foul mouthed ex
bus driver from Dagenham it doesn't mean you're doomed to be poor.
Sounds like the excuses of underachievers to me.
'Can't do well because I wasn't born in to it...' ____________________ Currently enjoying products from Ford, Mazda and Yamaha
Ste wrote: Avatars are fine, it's signatures that need turning off. |
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Ribenapigeon |
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Ribenapigeon Super Spammer
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-Matt- |
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-Matt- World Chat Champion
Joined: 28 Apr 2013 Karma :
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- Super Spammer
Joined: 22 Oct 2013 Karma :
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Posted: 09:48 - 10 Jul 2015 Post subject: |
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-Matt- wrote: | Everyone you disagree with isn't nescessarily 'left wing', you know .
The IFS has been criticised for leaning to the right as many times as it has been for leaning to the left - based purely on criticism its probably bordering on 'independant' not that I think it is personally.
In fact, Grand George Osborne himself has highly praised their work in the past, describing its previous director as one of the most
George Osborne wrote: | credible independent voices on the public finances, taxation and public spending. |
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The IFS come out with this sort of stuff after every budget and the BBC lap it up as fact. I'd love to see how they worked this out.
13 million families, according to them, will be claiming working age benefits, housing benefit or tax credits. So, out of the 16.9 Million families in the UK (2011 census), 13 million of them are on benefits....
Really, 76% of all families? If that's really true, then a fair proportion of them should not be collecting benefits in the first place.
I wonder if this £260 a year, takes into consideration the increased tax threshold, which is over £260 a year per person?
Or does it mean that 3.9 Million of the poorest families are far better off? Statistics and lies. ____________________ TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
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grr666 |
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grr666 Super Spammer
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Posted: 10:29 - 10 Jul 2015 Post subject: |
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What really makes me laugh is how people who will be out of pocket suddenly become good at math now,
when numeracy was a skill that seemed to escape them when having kids they couldn't afford. ____________________ Currently enjoying products from Ford, Mazda and Yamaha
Ste wrote: Avatars are fine, it's signatures that need turning off. |
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Wafer_Thin_Ham |
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Wafer_Thin_Ham Super Spammer
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The Wobbly Orange |
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The Wobbly Orange Brolly Dolly
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grr666 |
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grr666 Super Spammer
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Posted: 21:21 - 10 Jul 2015 Post subject: |
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I just had a look on the BBC calculator.
Jointly we are £216 better off per annum.
Nice one Georgie boy I shall waste all of it on stuff I don't need in the slightest. ____________________ Currently enjoying products from Ford, Mazda and Yamaha
Ste wrote: Avatars are fine, it's signatures that need turning off. |
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Wafer_Thin_Ham |
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Wafer_Thin_Ham Super Spammer
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Posted: 21:40 - 10 Jul 2015 Post subject: |
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£80 better off. Meh, I'd rather have it in my pocket. ____________________ My Flickr |
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- Super Spammer
Joined: 22 Oct 2013 Karma :
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Itchy |
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Itchy Super Spammer
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- Super Spammer
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G |
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G The Voice of Reason
Joined: 02 Feb 2002 Karma :
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Posted: 12:59 - 12 Jul 2015 Post subject: |
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Anyone that earns more than he does is filthy rich tory scum!
It's very simple Siggi economics, you should know things that like. |
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- Super Spammer
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Posted: 14:45 - 13 Jul 2015 Post subject: |
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With the changes to the budget on taxation of dividends, many small businesses who's directors take the bulk of their money in dividends will soon be paying double taxation for money taken out of the business.
Profits (and therefore dividends) will be taxed at 20% corporation tax, then George will swipe another 7.5% off the director for any dividends taken over the £5000 dividend allowance, meaning any dividends taken over the £5K, will effectively see 27.5% go to HMRC.
There's a good calculator here....
https://www.uktaxcalculators.co.uk/dividend-vs-salary.php
I'm going to be at least £1500 worse off from earnings which would still be a basic rate tax payer with a fairly average salary. ____________________ TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
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Old Thread Alert!
There is a gap of 2 years, 145 days between these two posts... |
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EvieG2017 |
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EvieG2017 L Plate Warrior
Joined: 20 Nov 2017 Karma :
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Posted: 23:24 - 04 Dec 2017 Post subject: |
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mpd72 wrote: | With the changes to the budget on taxation of dividends, many small businesses who's directors take the bulk of their money in dividends will soon be paying double taxation for money taken out of the business.
Profits (and therefore dividends) will be taxed at 20% corporation tax, then George will swipe another 7.5% off the director for any dividends taken over the £5000 dividend allowance, meaning any dividends taken over the £5K, will effectively see 27.5% go to HMRC.
There's a good calculator here....
https://www.uktaxcalculators.co.uk/dividend-vs-salary.php
I'm going to be at least £1500 worse off from earnings which would still be a basic rate tax payer with a fairly average salary. |
Interesting calculator, I came across this one that seems to be more simple to use in my opinion: https://www.income-tax.co.uk/ |
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Old Thread Alert!
The last post was made 6 years, 141 days ago. Instead of replying here, would creating a new thread be more useful? |
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