7:27pm
7:27pm, 30 Oct 2024
8,480 posts
|
Winniefree
Not yet @richmac that’s what the budget announcement was about.
|
9:06pm
9:06pm, 30 Oct 2024
6,082 posts
|
Cheeky’s Dad
This will be niche for most people but the one budget item I’m seriously bothered about is the change to Agricultural Property Relief in IHT. Not so much that I think the whole thing should be untouchable but setting the threshold is waaaaay too low and is, I think, completely out of touch with the economics of farming for a most small farmers. £1m sounds like a lot but most farms which are even remotely commercially viable would have a value above this. Small family farms won’t have the cash to pay IHT and will need to sell land making their farms even less viable. The exodus of people from the industry will accelerate and land will be scooped into big industrial farming conglomerates - just what we don’t need. By all means raise tax on massive landowners but this sweeps almost everyone into the same boat. I know farmers moan about everything (even if it is often justified) but all most people will hear is a few rich bell-ends like Clarkson bleating about it and assume “that’s okay then” It really isn’t |
9:18pm
9:18pm, 30 Oct 2024
272 posts
|
Yakima Canutt
Joe1970 wrote: I work for a charity which delivers statutory services under a contract with the local authority. Pretty confident we won't be getting an increase in what we're paid, so increased employer NICs will have to come from giving staff a smaller (or no) pay rise to what they'd otherwise get. I'm sure some giant corporations could absorb it by paying smaller dividends and bonuses, but they probably won't. I'm less sure it'll be easy for smaller employers. So it will show up indirectly on payslips! But I'm not against tax rises, public services need paying for certainly. First thoughts are that it's a far better budget than we've had for the last 14 years, although there are very many things on top of this that I think they should be doing as well. A start... If it's a small charity it might be better off with the increase in the annual exemption. (I'm chair of a charity and currently doing the maths in that). Increase in minimum wage is a good thing, but some of our p/t young staffers are on that, and it's getting harder for funding generally so it might actually impact headcount for our team sadly. I'm sure impact of employers NIC rise will be felt in lower future pay rise or bonus. If the average salary is £50k then it's about an extra 2.3% of the company wage bill. That is a chunky slug of tax. |
9:49pm
9:49pm, 30 Oct 2024
51,280 posts
|
HappyG(rrr)
Biden meant the other Trump side acts on stage who were spouting vile, bigoted bile. Unfortunately he used the word "supporters" which has been taken out of context. Don't think it's having that bad an effect on Harris voting. The idea about employers NI is that it's the biggest tax apart from Income tax and it can be headlined as not a direct tax on pay. Obv is going to come out of workers pay pay, rather than bosses' bonuses or shareholder dividends! But analysis says 90%of people unaffected or better off - 10% highest earners are paying much more. Which is as it should be imho . |
10:03pm
10:03pm, 30 Oct 2024
18,024 posts
|
jda
I thought I heard someone say that 75% of farms wouldn’t be affected by the IHT change but may be wrong on that. And it could be misleading anyway depending on what counts as a real farm (vs hobby).
|
Useful Links
FE accepts no responsibility for external links. Or anything, really.Related Threads
-
Fantasy General Election
Jul 2024
-
EU Referendum - In or Out? Vote here
Aug 2018
-
March to Parliament Against Brexit - Sat 2nd July
Jun 2016
-
EU Referendum
Feb 2016
-
Ads on Fetch - anyone else getting Leave and Remain?!
Feb 2017
-
The Environment Thread :-)
Oct 2024
-
Economics
Aug 2023
-
Dear Scottish Fetchies
Jan 2023
-
Any economists out there - question
Oct 2022
-
Power and exploitation - please check my sanity
Oct 2018
