Savings and Investments thread

Rob7Lee · November 26

se9addick said:

What will we be taxed on out salary sacrifice pension contributions above £2k? 13% (or whatever NI is at the moment)?

Depending what your salary is, you'll pay your normal NI rate on it, so if you are already above the UEL it'll be 2%. Obviously your employer will pay more.

The UEL is I think £967 a week i.e. the 40% band of just over £50k. So if you earn more than that it's another 2%, earn less than that then 13.8%.

Carter · November 26

I'm really sad to hear that @northstandsteve

I can't speak from personal experience as someone who has only ever been involved with the more off-menu types of business or worked as paid employment. The rise in NI and minimum wage are disastrous for small businesses as well as the jobs market. The toothpaste is out of the tube as far as this stupid march to the bottom goes and to be honest globalisation and fattening up already fat organisations and off-shore online only business.

I hate the generation of politicians who have never done a days work outside of politics.

This is a budget for dossers, removing the two child benefit is just labour buying votes as opposed to reforming an utterly unsustainable welfare system for the longer term benefit of the country.

Diebythesword · November 26

Children are dossers? Personally I’m happy something that’s proven to drive children into poverty has been removed.

Diebythesword · November 26

Everyone was crapping themselves last week with market behaviours but this week has been a really good week for markets. Always buy the dip! My guess the Ukraine peace talks have had an impact.

carly burn · November 26

Carter said:

I'm really sad to hear that @northstandsteve

I can't speak from personal experience as someone who has only ever been involved with the more off-menu types of business or worked as paid employment. The rise in NI and minimum wage are disastrous for small businesses as well as the jobs market. The toothpaste is out of the tube as far as this stupid march to the bottom goes and to be honest globalisation and fattening up already fat organisations and off-shore online only business.

I hate the generation of politicians who have never done a days work outside of politics.

This is a budget for dossers, removing the two child benefit is just labour buying votes as opposed to reforming an utterly unsustainable welfare system for the longer term benefit of the country.

It's exactly what it is and we've been on the march to the bottom for a fair old chunk now.
I've no idea where the bottom is, but successive governments have and will continue to get us there in the end.

Carter · November 26

Diebythesword said:

Children are dossers? Personally I’m happy something that’s proven to drive children into poverty has been removed.

Hang on, I'm pretty sure I didn’t say that children were dossers

I know who is, and this budget does more for helping them and taking more from pretty much everyone else

Rob7Lee · November 26

I'm ok with removing the 2 child cap, however it should have been done in conjunction with a complete review of benefits/welfare as a whole. We cannot continue on a path where we use 1/4 or if you include State pension 1/3rd of all income tax and National Insurance collected on welfare/state pension, it's simply not sustainable.