Off Topic BBC budget calculator - earn £100k or over and you are financially better off post budget!

Well I'm defo worse off that's all that I know.

 

The dividend stuff is interesting. My wife runs her own company as the only employee, pays herself a small salary and chunks every few months in dividends. Her accountants have already been in touch as to how she shoud handle this next year.

It cuts both ways. She has always thought that the way she is taxed is a bit of a scam (the VAT stuff is laughable, she charges 20% but only has to pay HMRC 12% or something - a good incentive to make sure tax is levied but that margin is way too big) and is not worried about paying a bit more. But that is because she is good at what she does and for the 9 months of the year she works is on good contracts. But for many others in this boat who are less successful, or work in a less well paid area, but are keeping themselves off benefits/in employment, this will hurt. And these people don't get sick pay or holiday pay, or pension contributions,they take a considerable personal risk.

People who do nothing but own shares and live off the dividend income/selling shares should be taxed at the same rate as income tax in my view.

 

Wouldn't class it as anarchist revolution, just that I have never entered into a contract to get fined if I drive in a bus lane. There is no common law that says it is a crime.

 

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Don't tell them that!!! It's so obviously not true cos Pils says so!!! Mind you, tell him the earth is round and he wouldn't believe it!

 

All that I know is that politicians are all full of **** and tell lies. They are all as bad as each other.

 

Yes it's just common courtesy and common sense. If you were taking evasive action to avoid an accident fine.

Each to his own.

 

Sorry Shefford......i was a bit abrupt with you earlier in my response.

You are essentially correct that there is such a "definition" as contract of action.

However, when you realise that there is no statute dictating to you that you must enter into a contract of any sort you then begin to see a much bigger picture and it becomes apparent that "contract of action" doesn't really exist at all .................other than just being some words.

 

Brown should have tightened bank regulation, but at the time Cameron and Osborne were still saying that the banks were over-regulated.

Thatcher deregulated, Cameron and Osborne wanted further deregulation, but the crash was Gordon Brown's fault!

 

That's right Stroller..............the head of a UK based political party was responsible for a GLOBAL crash.....you got it!

 

Care to elaborate?

I was simply asking if these individuals were included that is all?

 

This is too confusing for me...

 

He was partly responsible. I had a meeting with the FSA in 2005 who said and I quote " the biggest risk to us right now is the banks". They wanted to leave the financial advisory services alone as in their words had done well with the reforms and now they would leave us to self regulate more and concentrate on the banks. It didnt happen, instead we got 2 more layers of new rules to adhere to and the banks were left alone to carry on. clearly Brown or whoever in whitehall did not want the banks hit hard. As for the banks over regulated now, in my opinion they are. Its a bit like closing the barn door after its bolted. De regulation is not the answer because greed caused these problems .Good regulation is needed. The problem is they introduced Capital Adequacy requirements which means any FSA regulated firm must hold at least 25% of its annual expenditure in cash. The well run Banks are being punished and making it hard for them to grow which is why i think HSBC are moving away from UK as will others.

 

Interesting - two childless adults with a combined income of 28k will be £80 better off.

We can have a night away and stay at a B+B somewhere. That's unless interest rates go up and my landlord raises the rent by more than £7.66 a month...

 

There is always the rollover
After all the Banks have been playing with your money for years