benaj
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TAX cuts
Nov 22, 2023 14:58:06 GMT
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Post by benaj on Nov 22, 2023 14:58:06 GMT
I thought it’s about £17 rise per week for pensioners and amazing living wage rise, £1.02 pr hr for those considering getting some hours at the age of 21, apprentice gets 21.2% increase.
Lower the eligibility for NLW means more young people will pay taxes?
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Post by mostlywrong on Nov 22, 2023 15:17:59 GMT
I thought it’s about £17 rise per week for pensioners and amazing living wage rise, £1.02 pr hr for those considering getting some hours at the age of 21, apprentice gets 21.2% increase. Lower the eligibility for NLW means more young people will pay taxes? But the Government does not pay workers the NLW; companies should pay their workers at that level.
So, it is a political stunt to declare that the NLW has risen...
I accept that it might be slightly different for apprenticeships because, IIRC, there is a government subsidy for such schemes.
MW
Edited to change the emphasis!
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keitha
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Post by keitha on Nov 23, 2023 10:12:05 GMT
OK no great surprise, but for me Class 2 voluntary NI contributions at £3.45 a week, is still the best investment in the UK
for each year I pay £3.45 a week I will get over £6 a week back for life. so pay £180 get back £300 every year.
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TAX cuts
Nov 23, 2023 10:23:17 GMT
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Post by Ace on Nov 23, 2023 10:23:17 GMT
OK no great surprise, but for me Class 2 voluntary NI contributions at £3.45 a week, is still the best investment in the UK for each year I pay £3.45 a week I will get over £6 a week back for life. so pay £180 get back £300 every year. How will that work following yesterday's announcement that Class 2 NI was being abolished?
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keitha
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Post by keitha on Nov 23, 2023 12:58:51 GMT
OK no great surprise, but for me Class 2 voluntary NI contributions at £3.45 a week, is still the best investment in the UK for each year I pay £3.45 a week I will get over £6 a week back for life. so pay £180 get back £300 every year. How will that work following yesterday's announcement that Class 2 NI was being abolished? from what I see class 2 voluntary is staying
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keitha
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Post by keitha on Nov 23, 2023 13:05:27 GMT
Whingers are out
£1 per hour extra, but I will pay 20p tax, 10p NI, 6p pension, and my UC will drop by 55p so I will only get 9P or less than £4 a week.
it does seem that this £1 per hour will benefit the countries finances
55p less UC paid out 30p more tax and NI in
my company pension is limited to a 5% rise, I will gain £80 a month after tax.
March 2025 I will get my first state pension payment which will cause nearly £200 a month drop in my pension as that's how much extra tax I will pay
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benaj
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Post by benaj on Nov 23, 2023 16:59:08 GMT
according to Guardian, our new head of commonwealth secretly profiting from the assets of dead citizens. I suppose they are IHT free.
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adrianc
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Post by adrianc on Nov 23, 2023 17:10:08 GMT
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spiral
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Post by spiral on Nov 23, 2023 18:30:59 GMT
my company pension is limited to a 5% rise You're lucky, mines capped at 3.5%.
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Post by moonraker on Nov 24, 2023 8:44:45 GMT
I don't think that anyone here in P2P has yet pointed out that the tax cuts will have to be paid for by real cuts in public service spending? BBC Which will add to the problems facing a new Government, which most people would say will be Labour. |
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hazellend
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TAX cuts
Nov 24, 2023 13:56:40 GMT
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Post by hazellend on Nov 24, 2023 13:56:40 GMT
I don't think that anyone here in P2P has yet pointed out that the tax cuts will have to be paid for by real cuts in public service spending? BBC Which will add to the problems facing a new Government, which most people would say will be Labour. Don’t people vote for Labour because they want better public services via increased taxation?
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Post by moonraker on Nov 24, 2023 14:06:07 GMT
Don’t people vote for Labour because they want better public services via increased taxation? Until their taxes actually go up!
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benaj
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TAX cuts
Nov 24, 2023 14:34:31 GMT
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Post by benaj on Nov 24, 2023 14:34:31 GMT
Well, IIRC, a forumite’s regular tipping might just get a better public service done without paying higher taxes.
Better bin man, delivery driver etc.
Not sure if this works well across the entire country.
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hazellend
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TAX cuts
Nov 26, 2023 16:15:42 GMT
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Post by hazellend on Nov 26, 2023 16:15:42 GMT
Don’t people vote for Labour because they want better public services via increased taxation? Until their taxes actually go up! And then they vote Tory because they want lower taxes and less well funded public services. And so it goes on…
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