[Politics] The General Election Thread

[1901Phil]

Is Jacob R-M still alive. He seems to have vanished

 

[Surrey Phil]

I know all this with my eyes closed, it’s my profession.

Now:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill £7,861
Leaving £33,511 for dividends
The first £2,000 of which are tax free
Income tax on the balance of £31,511 = £2,363

Under Corbyn’s plan today:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill £7,861. But will McDonnell increase this from 19%?
Leaving £33,511 for dividends
The first £2,000 of which are tax free. But will McDonnell scrap this?
Income tax on the balance of £33,511 = 6,302

Overnight that small businessmen/family are out of pocket by £3,939 per annum.

Most businessmen start because they have an idea, or are made redundant, hate their boss, hate being in a master and servant arrangement, like the flexibility, many people do it now because it works with their child arrangements and so on. Only the people like famously John Burt at the BBC set up a limited company purely as tax avoidance. IR35 and the Badges of Trade rules catch them, but some of course carry on lying with a bent engager not wanting to pay employers national insurance and accrue employment rights for staff.

It’s helpful to have figures to understand the proposals. I have put my life into running my business and work my bollocks off and suffer a lot of stress doing it, so find being penalised financially incredibly unfair & unbalanced.

 

[theonlymikey]

This is disgraceful

[tweet]1197538332626042880[/tweet]

Sent from my SM-A520F using Tapatalk

 

[Weststander]

This will only happen if the presiding government override local planning restrictions. Deal with stuff like this daily and the obstructions from the local authorities are something to believe

The Times covered this today.

Seemingly we’re unique where every small or large local council can grind a proposed development (greenfield or brownfield) to a halt, with opposing officers, councillors and residents able to do this with endless consultation, hoops to jump, consultants to engage, and finally 100’s of conditions should the registered social landlord or private developer be lucky enough to get permission. All at risk for them, as the application can be turned down on a political whim, after a spend of £100k’s to millions on the consultants.

Whereas Germany, France and so on use a zonal system, with large greenfield and brownfield areas specifically determined by larger local authorities to they will come what may contain new residential, office, transport, retail or industrial developments. Nimby’s have little power once that zoning’s in place.

 

[Is it PotG?]

This is disgraceful

[tweet]1197538332626042880[/tweet]

Sent from my SM-A520F using Tapatalk

Odd photo, I agree.

 

[Bozza]

This is disgraceful

Agreed. Everyone knows anti-semitism is rife within the Labour Party.

 

[theonlymikey]

Odd photo, I agree.

Agreed on the photo

Sent from my SM-A520F using Tapatalk

 

[Is it PotG?]

Agreed on the photo

Sent from my SM-A520F using Tapatalk

Looks like Alastair McGowan.

 

[Weststander]

It’s helpful to have figures to understand the proposals. I have put my life into running my business and work my bollocks off and suffer a lot of stress doing it, so find being penalised financially incredibly unfair & unbalanced.

Pleased to put meat on the bone. They really are the true tax effects.

 

[Motogull]

Is Jacob R-M still alive. He seems to have vanished

I was going to post something similar. They must be bricking the thought of him saying something mind-boggingly stupid.

 

[Blue3]

This is disgraceful

[tweet]1197538332626042880[/tweet]

Sent from my SM-A520F using Tapatalk

I agree it's disgraceful this constant barrage of fake news

 

[Stat Brother]

It's hard to imagine all that money is being given for the good of all the people in the UK:-

[tweet]1197528262790004737[/tweet]

 

[darkwolf666]

I know all this with my eyes closed, it’s my profession.

Now:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill £7,861
Leaving £33,511 for dividends
The first £2,000 of which are tax free
Income tax on the balance of £31,511 = £2,363

Under Corbyn’s plan today:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill £7,861. But will McDonnell increase this from 19%?
Leaving £33,511 for dividends
The first £2,000 of which are tax free. But will McDonnell scrap this?
Income tax on the balance of £33,511 = 6,302

Overnight that small businessmen/family are out of pocket by £3,939 per annum.

Most businessmen start because they have an idea, or are made redundant, hate their boss, hate being in a master and servant arrangement, like the flexibility, many people do it now because it works with their child arrangements and so on. Only the people like famously John Burt at the BBC set up a limited company purely as tax avoidance. IR35 and the Badges of Trade rules catch them, but some of course carry on lying with a bent engager not wanting to pay employers national insurance and accrue employment rights for staff.

Got to say I really don’t understand all this, but just for clarity are Labour suggesting that those in the scenario quoted should pay the same amount in tax as someone earning the same figures through a wage?

Disgraceful...

 

[Bozza]

I was going to post something similar. They must be bricking the thought of him saying something mind-boggingly stupid.

You'd certainly want to keep him as far away from the cameras as possible.

Maybe he's on holiday with Dianne Abbott.

 

[Weststander]

Reworked, as we now know that McDonnell is also raising corp tax for small companies:

Now:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill £7,861
Leaving £33,511 for dividends
The first £2,000 of which are tax free
Income tax on the balance of £31,511 = £2,363

Under Corbyn’s plan today:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill 8,688 We now know that McDonnell will increase the CT rate for very small companies.
Leaving £33,511 for dividends
The first £2,000 of which are tax free. But will McDonnell scrap this?
Income tax on the balance of £33,511 = 6,302

Overnight, small businessmen/families at these levels are out of pocket by £4,766 per annum.

Most businessmen start because they have an idea, or are made redundant, hate their boss, hate being in a master and servant arrangement, like the flexibility, many people do it now because it works with their child arrangements and so on. Only the people like famously John Burt at the BBC set up a limited company purely as tax avoidance. IR35 and the Badges of Trade rules catch them, but some of course carry on lying with a bent engager not wanting to pay employers national insurance and accrue employment rights for staff.

 

[vegster]

We will have to build on green field sites if we are to achieve anything like Labour, Liberal, or Tory targets of affordable homes.

Thankfully, we have a lot of green space to build on. Only 5.9 % of Britain is currently built on.

Still plenty of " Brown Field" space too.

 

[vegster]

Reworked, as we now know that McDonnell is also raising corp tax for small companies:

Now:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill £7,861
Leaving £33,511 for dividends
The first £2,000 of which are tax free
Income tax on the balance of £31,511 = £2,363

Under Corbyn’s plan today:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill 8,688 We now know that McDonnell will increase the CT rate for very small companies.
Leaving £33,511 for dividends
The first £2,000 of which are tax free. But will McDonnell scrap this?
Income tax on the balance of £33,511 = 6,302

Overnight, small businessmen/families at these levels are out of pocket by £4,766 per annum.

Most businessmen start because they have an idea, or are made redundant, hate their boss, hate being in a master and servant arrangement, like the flexibility, many people do it now because it works with their child arrangements and so on. Only the people like famously John Burt at the BBC set up a limited company purely as tax avoidance. IR35 and the Badges of Trade rules catch them, but some of course carry on lying with a bent engager not wanting to pay employers national insurance and accrue employment rights for staff.

So, are you saying the change from current taxation to the proposed Labour taxation would mean a change resultant profit from £29k down to £27K ? that's not too bad is it ? or would the small businessman used as an example relocate to Luxembourg or Ireland to avoid that £2k extra tax bill ?

 

[Surrey Phil]

Reworked, as we now know that McDonnell is also raising corp tax for small companies:

Now:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill £7,861
Leaving £33,511 for dividends
The first £2,000 of which are tax free
Income tax on the balance of £31,511 = £2,363

Under Corbyn’s plan today:
Company profit £50,000
Before a salary of £8,628
Profit after salary £41,372
Corporation tax bill 8,688 We now know that McDonnell will increase the CT rate for very small companies.
Leaving £33,511 for dividends
The first £2,000 of which are tax free. But will McDonnell scrap this?
Income tax on the balance of £33,511 = 6,302

Overnight, small businessmen/families at these levels are out of pocket by £4,766 per annum.

Most businessmen start because they have an idea, or are made redundant, hate their boss, hate being in a master and servant arrangement, like the flexibility, many people do it now because it works with their child arrangements and so on. Only the people like famously John Burt at the BBC set up a limited company purely as tax avoidance. IR35 and the Badges of Trade rules catch them, but some of course carry on lying with a bent engager not wanting to pay employers national insurance and accrue employment rights for staff.

On that basis, Labour are going to put a lot of small businesses to the sword. I would be forced to sell my business based on those figures.

 

[mr sheen]

https://calculate.forlabour.com/ may have been updated
Not for the small businessmen, but for the rest of us

 

[Baldseagull]

Where are these 150,000 houses per year going to be built, on what land?

Maybe the building plots for the houses that the Tories didnt built. By the way, the Tories reckon a million homes will be built under them in the next 5 years, 50,000 more building plots per year required, or maybe they are just going to build smaller ones so they can fit them all in?