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[Finance] The Budget March 3rd 2021.



DJ NOBO

DJ NOBO

Well-known member
Jul 18, 2004
6,343
Wiltshire
nicko31 said:
I thought this was a joke, maybe it isn't. The public has loads of dough saved up, its not needed...
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Couple of freelance friends of mine have claimed the £2500 per month grant for the past year.
One has had his year of paternity leave paid for by the tax payer He could work, but is choosing not too. Why would he when there’s free money?
Another is choosing to work part time from home - his employment sector has been fine since last Summer - and using 15k of Govt grant to knock off the mortgage.
All allowed.
Crazy.
 
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zefarelly

zefarelly

Well-known member
NSC Patron
Jul 7, 2003
21,834
Sussex, by the sea
Weststander said:
A good idea I recently heard discussed by experts was for overseas multinationals operating in the UK such as Dell, Stabucks, Google and Amazon to pay the higher of full UK corporation tax (this is the tax they suppress at present with ‘franchise fees’ paid to their ROI, Lux or Netherlands holding companies, wiping out UK taxable profits), or a tax on a percentage of UK turnover eg 2%.

Annoyingly, the latter might simply be passed on to UK consumers, so that those companies are little affected.
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would be easier and better if people stopped using these Shytehouse companies and funding their parasitic leech like cash grabbing practices.
 


P

portslade seagull

Well-known member
Jul 19, 2003
17,617
portslade
zefarelly said:
would be easier and better if people stopped using these Shytehouse companies and funding their parasitic leech like cash grabbing practices.
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Totally agree, still believe the government could have done more to save the high street. Maybe backing the shops in trouble b4 they went under and taking payback as things improved.
 


S

Shropshire Seagull

Well-known member
Nov 5, 2004
8,509
Telford
Pavilionaire said:
But it's worse than that. Not only will corporate tax revenues for y/e 5th April 2021 be low because of Covid but those business that make losses will be relating those back to the previous year, so the government will have to pay out tax revenue they banked last year, which means more borrowing. The government's cashflow re corporation tax is going to be completely shot.
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Don't think that's how Corp Tax works - I've already paid my Corp Tax for 2019-20 and will be making a loss this year [2020-21]. I can't reclaim back any of the corp tax paid last year, I can only include this year's loss into future years profit/loss.

No good for those whose business has gone bust this year - nothing can be recovered from corp tax already paid.
 






Paulie Gualtieri

Paulie Gualtieri

Bada Bing
NSC Patron
May 8, 2018
9,265
Maybe they could claim back the £2b in VAT owed by Uber after taxi drivers had to crowdfund a JR against HMRC, who didn’t want to know


Sent from my iPhone using Tapatalk
 
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GT49er

GT49er

Well-known member
Feb 1, 2009
46,755
Gloucester
The huge Covid debt has got to be paid back. A penny in the pound increase on all bands of income tax would be reasonable and sensible - and unpopular; and Bojo doesn't like unpopular. It'll have to be done at some time though.
The outrage will be out of all proportion to the effect though - someone on £30K pa would be paying hardly the price of a pint more each week, which seems eminently manageable tbf.
 






zefarelly

zefarelly

Well-known member
NSC Patron
Jul 7, 2003
21,834
Sussex, by the sea
Hampster Gull said:
Wise words
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Thank you.

I recently bought a book, written by an engineering nerd, obviously only appeals to special needs engineering nerds. However, it's available via 2 outlets. One is an independant retailer, the other is the satanic vacuum cleaner of online trade.

In a similar vein, I do not understand why the band I'm in have their music on s*****y. Its free for all. Glad I chipped in a few grand to make our last album for them to profit from!
 


H

Hampster Gull

New member
Dec 22, 2010
13,462
zefarelly said:
Thank you.

I recently bought a book, written by an engineering nerd, obviously only appeals to special needs engineering nerds. However, it's available via 2 outlets. One is an independant retailer, the other is the satanic vacuum cleaner of online trade.

In a similar vein, I do not understand why the band I'm in have their music on s*****y. Its free for all. Glad I chipped in a few grand to make our last album for them to profit from!
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The Biden admin have indicated they will support a global digital tax which could be great but will likely be a let down
 


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