Budget
Comments
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#humblebragChippycafc said:
Well as i paid 18k in tax and national insurance last year i would like to think that i am entitled to some benefits...but i havent had a day sick in 4 years and before that ten.kentaddick said:
Because in the industry I work in it's almost impossible to be employed, and if you are then you're likely either a mug or not very good at what you do or both.Chippycafc said:
Cos i am happily employed and dont cry about putting an extra couple of percenrt in the coffers.... After all as i am paying more in, I dont get any extra benefit for thosr psying less... Why dont you go full employed then.kentaddick said:
then why dont you become self employed?Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
You do get more benefits than those paying less (self employed) you get sick pay, holiday pay, you get paid when things are quiet, paternity leave etc etc, the list goes on.
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Thank goodness we are governed by the party of financial competence.1
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This should be an open goal for the opposition. Did Corbyn take that crossbar challenge yesterday? He needs to f*** off and soon, for the good of the country.3
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Then there's the corbyn side where they don't apologise, change their mind or admit they were once wrong for basically their entire political career and refuse to resign.ShootersHillGuru said:So just yesterday Tory politicians were adamant that the proposed changes to National Insurance contributions for the self employed were fair and needed to redress an imbalance. Twenty four hours later we hear that they weren't fair at all and won't now go ahead.
Is it any wonder that people don't have any faith in a single word that comes out of a politicians mouth. All politicians.0 -
Thanks one of lifes loafers i guessSuper_Eddie_Youds said:
#humblebragChippycafc said:
Well as i paid 18k in tax and national insurance last year i would like to think that i am entitled to some benefits...but i havent had a day sick in 4 years and before that ten.kentaddick said:
Because in the industry I work in it's almost impossible to be employed, and if you are then you're likely either a mug or not very good at what you do or both.Chippycafc said:
Cos i am happily employed and dont cry about putting an extra couple of percenrt in the coffers.... After all as i am paying more in, I dont get any extra benefit for thosr psying less... Why dont you go full employed then.kentaddick said:
then why dont you become self employed?Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
You do get more benefits than those paying less (self employed) you get sick pay, holiday pay, you get paid when things are quiet, paternity leave etc etc, the list goes on.0 -
Lkentaddick said:
Then there's the corbyn side where they don't apologise, change their mind or admit they were once wrong for basically their entire political career and refuse to resign.ShootersHillGuru said:So just yesterday Tory politicians were adamant that the proposed changes to National Insurance contributions for the self employed were fair and needed to redress an imbalance. Twenty four hours later we hear that they weren't fair at all and won't now go ahead.
Is it any wonder that people don't have any faith in a single word that comes out of a politicians mouth. All politicians.
Whats the otherr side got to do with it.0 -
Who will pay in november though... Some blind man in a wheelchair next... As i am sure theres something they could do.2
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What galls me most is that the government caved in to pressure on this but didn't even come close to caving in to the pressure exerted when benefits for the sick and disabled were brought in.
Politicians are just mostly scum.3 -
Yes, pressure from the real powerbase in the Tory party-Bill Cash, Redwood, Rees-Mogg and a few others on the extreme right! These are the ones that run the show, not Maisie.ShootersHillGuru said:What galls me most is that the government caved in to pressure on this but didn't even come close to caving in to the pressure exerted when benefits for the sick and disabled were brought in.
Politicians are just mostly scum.0 -
Apart from the previous years of cutting back a raising various taxes.
My first thought is, what have we missed? What have they slotted in without us noticing?0 - Sponsored links:
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Your right. Theres a whammy coming.charltonkeston said:Apart from the previous years of cutting back a raising various taxes.
My first thought is, what have we missed? What have they slotted in without us noticing?0 -
I think it's summed up by May slating Sturgeon for, "playing politics and creating uncertainty" on Tuesday...then on Wednesday scraping an important element of her cabinet's budget because it came in for a bit of criticism from some of her party, the right wing press and some voters. If that's not playing politics and making policy decisions just to prop up support for her party I don't know what it is.ShootersHillGuru said:What galls me most is that the government caved in to pressure on this but didn't even come close to caving in to the pressure exerted when benefits for the sick and disabled were brought in.
Politicians are just mostly scum.
I fully expect more cuts to be made to our public services to make up the shortfall but that's unlikely to make the front pages of The Sun or The Mail and Corbyn's so inept at holding them to account it's ridiculous.3 -
What is fair? I can think of so many things that aren't fair. It isn't easy to find money, but money is needed. I am self employed - I like anybody else would rather not pay more tax, but wasn't jumping up and down about it. They will only get us paying it in another way - like petrol anyway!1
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A system is fair if it works for you!MuttleyCAFC said:What is fair?
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Bournemouth Addick said:
I think it's summed up by May slating Sturgeon for, "playing politics and creating uncertainty" on Tuesday...then on Wednesday scraping an important element of her cabinet's budget because it came in for a bit of criticism from some of her party, the right wing press and some voters. If that's not playing politics and making policy decisions just to prop up support for her party I don't know what it is.ShootersHillGuru said:What galls me most is that the government caved in to pressure on this but didn't even come close to caving in to the pressure exerted when benefits for the sick and disabled were brought in.
Politicians are just mostly scum.
I fully expect more cuts to be made to our public services to make up the shortfall but that's unlikely to make the front pages of The Sun or The Mail and Corbyn's so inept at holding them to account it's ridiculous.
Most things that come out of this lot annoy me but that statement is the new worst, essentially May is accusing a politician of being a politician.
Having said that I have just heard Oliver (spit) Letwin defending overspending in various Tory constituencies, do they honestly think we are stupid?0 -
Well, that's exactly my point, you pay more into the system and you get added benefits to that. Why should a self employed person pay the same as an employed person whilst having none of the benefits and all of the risk of being self employed and constantly having to find your own work.Chippycafc said:
Well as i paid 18k in tax and national insurance last year i would like to think that i am entitled to some benefits...but i havent had a day sick in 4 years and before that ten.kentaddick said:
Because in the industry I work in it's almost impossible to be employed, and if you are then you're likely either a mug or not very good at what you do or both.Chippycafc said:
Cos i am happily employed and dont cry about putting an extra couple of percenrt in the coffers.... After all as i am paying more in, I dont get any extra benefit for thosr psying less... Why dont you go full employed then.kentaddick said:
then why dont you become self employed?Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
You do get more benefits than those paying less (self employed) you get sick pay, holiday pay, you get paid when things are quiet, paternity leave etc etc, the list goes on.0 -
Yes but I work hard for that and with it comes a pile of responsibility. If your good work will follow you.kentaddick said:
Well, that's exactly my point, you pay more into the system and you get added benefits to that. Why should a self employed person pay the same as an employed person whilst having none of the benefits and all of the risk of being self employed and constantly having to find your own work.Chippycafc said:
Well as i paid 18k in tax and national insurance last year i would like to think that i am entitled to some benefits...but i havent had a day sick in 4 years and before that ten.kentaddick said:
Because in the industry I work in it's almost impossible to be employed, and if you are then you're likely either a mug or not very good at what you do or both.Chippycafc said:
Cos i am happily employed and dont cry about putting an extra couple of percenrt in the coffers.... After all as i am paying more in, I dont get any extra benefit for thosr psying less... Why dont you go full employed then.kentaddick said:
then why dont you become self employed?Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
You do get more benefits than those paying less (self employed) you get sick pay, holiday pay, you get paid when things are quiet, paternity leave etc etc, the list goes on.0 -
They shouldn't which is why the employed (inc the employer contribution) pays almost 3x as much as the self employed. Question is what should the differential be? I can't say i'm 100% up on self employed rates/benefits etc but I thought the only difference was Unemployment benefit and Sick pay? 3x as much more than covers that I would have thought?kentaddick said:
Well, that's exactly my point, you pay more into the system and you get added benefits to that. Why should a self employed person pay the same as an employed person whilst having none of the benefits and all of the risk of being self employed and constantly having to find your own work.Chippycafc said:
Well as i paid 18k in tax and national insurance last year i would like to think that i am entitled to some benefits...but i havent had a day sick in 4 years and before that ten.kentaddick said:
Because in the industry I work in it's almost impossible to be employed, and if you are then you're likely either a mug or not very good at what you do or both.Chippycafc said:
Cos i am happily employed and dont cry about putting an extra couple of percenrt in the coffers.... After all as i am paying more in, I dont get any extra benefit for thosr psying less... Why dont you go full employed then.kentaddick said:
then why dont you become self employed?Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
You do get more benefits than those paying less (self employed) you get sick pay, holiday pay, you get paid when things are quiet, paternity leave etc etc, the list goes on.
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Great pointRob7Lee said:
They shouldn't which is why the employed (inc the employer contribution) pays almost 3x as much as the self employed. Question is what should the differential be? I can't say i'm 100% up on self employed rates/benefits etc but I thought the only difference was Unemployment benefit and Sick pay? 3x as much more than covers that I would have thought?kentaddick said:
Well, that's exactly my point, you pay more into the system and you get added benefits to that. Why should a self employed person pay the same as an employed person whilst having none of the benefits and all of the risk of being self employed and constantly having to find your own work.Chippycafc said:
Well as i paid 18k in tax and national insurance last year i would like to think that i am entitled to some benefits...but i havent had a day sick in 4 years and before that ten.kentaddick said:
Because in the industry I work in it's almost impossible to be employed, and if you are then you're likely either a mug or not very good at what you do or both.Chippycafc said:
Cos i am happily employed and dont cry about putting an extra couple of percenrt in the coffers.... After all as i am paying more in, I dont get any extra benefit for thosr psying less... Why dont you go full employed then.kentaddick said:
then why dont you become self employed?Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
You do get more benefits than those paying less (self employed) you get sick pay, holiday pay, you get paid when things are quiet, paternity leave etc etc, the list goes on.0 -
NICs, like income tax, are charged assuming you are working full time and constantly earning. For a lot of self employed though, this is not the case. If you have a job, you can expect the same amount of money to drop into your account every month. A lot of self-employed work depends on seasons, winning contracts or working for months and only getting paid at the end of a job. That's even if the payment is straight forward; often it isn't and not only do they still have to carry on securing work some will be engaging in exhausting legal fights for payment for work delivered. At least income tax can be claimed back if overcharged (albeit over a year after the fact), whereas NICs cannot.
The system is utterly farcical. They should be rolled into one income tax, except this will never happen because no political party has the stomach to unfuck our horrendously complex tax system.
But the point stands that if you are employed you have dozens of extra safeguards and rights that are simply not available to self employed. Not only that but being self employed is, generally, more stressful and risky than having an employment contract.0 - Sponsored links:
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Most of my friends who were self employed (and good luck to them) have rertired and enjoying a rosy old life... And at the same age as me and earlier... Wish i had that stress.0
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Reading through the posts there seems to be a flavour that every employed person just sits behind a desk and gets paid whether they graft or sit and do nothing.
Whilst i take my hat off to all self made men and women, they wouldnrt have made it without their dedicated rmployees.0 -
It is an impression the press and government wants people to have. I have been both - I believe - based on some knowledge - that some of the hardest working people are civil servants, but that doesn't suit anybody's agenda! The country needs employed workers and it needs self employed workers - it shouldn't be too difficult a concept.0
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Agreed0
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He's an employed business owner, not self employed. 19% is corporation tax on profits and what's left he receives as a dividend and pays income tax on it. Including National Insurance he pays around £38k in taxes, a little under what he would pay in taxes if employed and earning £100k.Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.1 -
Its his business and he runs it on his own, unless hes been lying to me for years. Further to that he showed me his accounts and didnt pay what you were suggesting.Dippenhall said:
He's an employed business owner, not self employed. 19% is corporation tax on profits and what's left he receives as a dividend and pays income tax on it. Including National Insurance he pays around £38k in taxes, a little under what he would pay in taxes if employed and earning £100k.Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
What i found staggering was that you can claim back white goods as long as you can convince the taxman its for the business . He had wadhing machines fridges ovens that were bought year on year etc... Multiply that by several thousand businesses run simularly in the uk the same size that is a lot of revenue lost.0 -
All I'm saying is that 19% is the corporation tax rate applied to gross profits. Self employed don't pay corporation tax they pay income tax so I assume it must be a company he owns as sole director/shareholder.Chippycafc said:
Its his business and he runs it on his own, unless hes been lying to me for years. Further to that he showed me his accounts and didnt pay what you were suggesting.Dippenhall said:
He's an employed business owner, not self employed. 19% is corporation tax on profits and what's left he receives as a dividend and pays income tax on it. Including National Insurance he pays around £38k in taxes, a little under what he would pay in taxes if employed and earning £100k.Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
What i found staggering was that you can claim back white goods as long as you can convince the taxman its for the business . He had wadhing machines fridges ovens that were bought year on year etc... Multiply that by several thousand businesses run simularly in the uk the same size that is a lot of revenue lost.
Dividends are paid out of post tax profits and taxed as income and are nothing to do with what's in company accounts.
A business asset you buy is taken off taxable profits and in theory it is for the use of the business, not personal use.
Without the tax break he wouldn't have enough cash retained in the business to buy the vans and wouldn't be providing jobs for guys who do the work.
If you are good at something what's stopping you starting a business working 7 days a week 52 weeks a year wondering if you'll have enough cash at the end of the month to pay wages, rent, tax, PAYE, cover bad debts etc. Then you can enjoy all these freebies that fall in your lap.1 -
I am good at something and get paid well for it thanks but as stated prior i get paid well due the responsibility on my shoulders. We have a saying round here. If you want a plumber., electrician, .mechanic, carpet fitter, fencer and all, be in the new inn after 2pm and you will find one.0
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This. You can only take dividends if the company has made a profit, profits are all taxed, dividends are now taxed again at 7% once you take out more than £5,000 (which will be lowered to £2,000). Basically your mate has told you complete porkies as it's impossible to hide that level of embezzlement.Dippenhall said:
All I'm saying is that 19% is the corporation tax rate applied to gross profits. Self employed don't pay corporation tax they pay income tax so I assume it must be a company he owns as sole director/shareholder.Chippycafc said:
Its his business and he runs it on his own, unless hes been lying to me for years. Further to that he showed me his accounts and didnt pay what you were suggesting.Dippenhall said:
He's an employed business owner, not self employed. 19% is corporation tax on profits and what's left he receives as a dividend and pays income tax on it. Including National Insurance he pays around £38k in taxes, a little under what he would pay in taxes if employed and earning £100k.Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
What i found staggering was that you can claim back white goods as long as you can convince the taxman its for the business . He had wadhing machines fridges ovens that were bought year on year etc... Multiply that by several thousand businesses run simularly in the uk the same size that is a lot of revenue lost.
Dividends are paid out of post tax profits and taxed as income and are nothing to do with what's in company accounts.
A business asset you buy is taken off taxable profits and in theory it is for the use of the business, not personal use.
Without the tax break he wouldn't have enough cash retained in the business to buy the vans and wouldn't be providing jobs for guys who do the work.
If you are good at something what's stopping you starting a business working 7 days a week 52 weeks a year wondering if you'll have enough cash at the end of the month to pay wages, rent, tax, PAYE, cover bad debts etc. Then you can enjoy all these freebies that fall in your lap.
You may have responsibility on your shoulders but at the end of the day if it all goes tits up then you just walk away, a business owner has to the live with the fact their company went out of business following them around on company house etc, which can make it difficult to start up another business and do business with other businesses who will then credit check you and look you up on company house. You are, essentially, forever fucked.Chippycafc said:I am good at something and get paid well for it thanks but as stated prior i get paid well due the responsibility on my shoulders. We have a saying round here. If you want a plumber., electrician, .mechanic, carpet fitter, fencer and all, be in the new inn after 2pm and you will find one.
Maybe if you went self employed you would understand, you will earn more (if you can get the same level of work in as you do now as an employed person) but you then have an added ridiculous level of stress and responsibility.
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You mean close one business down and start up again with another digit in the title... That doesnt happen does it. Start up the scams again.. So stressful.kentaddick said:
This. You can only take dividends if the company has made a profit, profits are all taxed, dividends are now taxed again at 7% once you take out more than £5,000 (which will be lowered to £2,000). Basically your mate has told you complete porkies as it's impossible to hide that level of embezzlement.Dippenhall said:
All I'm saying is that 19% is the corporation tax rate applied to gross profits. Self employed don't pay corporation tax they pay income tax so I assume it must be a company he owns as sole director/shareholder.Chippycafc said:
Its his business and he runs it on his own, unless hes been lying to me for years. Further to that he showed me his accounts and didnt pay what you were suggesting.Dippenhall said:
He's an employed business owner, not self employed. 19% is corporation tax on profits and what's left he receives as a dividend and pays income tax on it. Including National Insurance he pays around £38k in taxes, a little under what he would pay in taxes if employed and earning £100k.Chippycafc said:Self employed do have it tough... My mate owns a small carpet business he admitted the other day he pays himself 12k a yearr and a nice 100k dividend at the end of the year and pays 19% tax on it.
I earn a third of that and pay twice as much. His fitters who are self employed get to drive about in company vans to and from work and keep them over the weekend and the fuel of course they use can be claimed back.
Tough old world.
What i found staggering was that you can claim back white goods as long as you can convince the taxman its for the business . He had wadhing machines fridges ovens that were bought year on year etc... Multiply that by several thousand businesses run simularly in the uk the same size that is a lot of revenue lost.
Dividends are paid out of post tax profits and taxed as income and are nothing to do with what's in company accounts.
A business asset you buy is taken off taxable profits and in theory it is for the use of the business, not personal use.
Without the tax break he wouldn't have enough cash retained in the business to buy the vans and wouldn't be providing jobs for guys who do the work.
If you are good at something what's stopping you starting a business working 7 days a week 52 weeks a year wondering if you'll have enough cash at the end of the month to pay wages, rent, tax, PAYE, cover bad debts etc. Then you can enjoy all these freebies that fall in your lap.
You may have responsibility on your shoulders but at the end of the day if it all goes tits up then you just walk away, a business owner has to the live with the fact their company went out of business following them around on company house etc, which can make it difficult to start up another business and do business with other businesses who will then credit check you and look you up on company house. You are, essentially, forever fucked.Chippycafc said:I am good at something and get paid well for it thanks but as stated prior i get paid well due the responsibility on my shoulders. We have a saying round here. If you want a plumber., electrician, .mechanic, carpet fitter, fencer and all, be in the new inn after 2pm and you will find one.
Maybe if you went self employed you would understand, you will earn more (if you can get the same level of work in as you do now as an employed person) but you then have an added ridiculous level of stress and responsibility.
Cant believe how naive you are... I can be publicly prosecuted if it goes wrong can you doing a bit of filming.1
