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| oldpink |
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oldpink
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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. |
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| Ribenapigeon |
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Ribenapigeon
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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
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| oldpink |
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oldpink
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Ribenapigeon
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| _mjs_ |
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_mjs_
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| thx1138 |
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thx1138
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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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| 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.
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| owl10 |
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owl10
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| grr666 |
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grr666
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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...' 
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| Ribenapigeon |
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Ribenapigeon
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| -Matt- |
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-Matt-
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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.
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| grr666 |
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grr666
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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.
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| Wafer_Thin_Ham |
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Wafer_Thin_Ham
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| The Wobbly Orange |
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The Wobbly Orange
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| grr666 |
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grr666
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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.
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| Wafer_Thin_Ham |
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Wafer_Thin_Ham
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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.
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| Itchy |
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Itchy
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G
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| Ste |
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Ste
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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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| 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.
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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
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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, 134 days ago. Instead of replying here, would creating a new thread be more useful? |
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