Re: Budget 2013 : Wed Mar 20, 2013 6:22 pm  

cod'ead wrote:

OK.

If you are earning £20,000 from April 2013, you will pay £20000 minus £9440 = £10560 x 20% = £2112 tax

If you are earning £20,000 from April 2014, you will pay £20000 minus £10000 = £10000 x 20% = £2000 tax

So you are actually only £112 pa or £2.15 per week better off

You'll be eloping with Vorderman next mate.
She'll turn you into a true blue.

Re: Budget 2013 : Wed Mar 20, 2013 7:14 pm  

Anakin Skywalker wrote:

Seeing Danny Alexander trying to defend it was pathetic.
Those in the studio had him for breakfast. The look on their faces was 'You haven't really got a clue have you matey boy'

Rodent just coming on C4 News now.
See how he does.

Nice free ride for him there Jon!

Re: Budget 2013 : Wed Mar 20, 2013 7:21 pm  

cod'ead wrote:

OK.

If you are earning £20,000 from April 2013, you will pay £20000 minus £9440 = £10560 x 20% = £2112 tax

If you are earning £20,000 from April 2014, you will pay £20000 minus £10000 = £10000 x 20% = £2000 tax

So you are actually only £112 pa or £2.15 per week better off

But ~£380 pa or £7.30 per week better off than right now, which you appear to be ignoring.

Re: Budget 2013 : Wed Mar 20, 2013 7:30 pm  

Derwent wrote:

But ~£380 pa or £7.30 per week better off than right now, which you appear to be ignoring.

Budgets last for 12 months FFS

Back in 1980 I was earning £60 a week, how far do you want to go back?

Re: Budget 2013 : Wed Mar 20, 2013 7:38 pm  

Derwent wrote:

But ~£380 pa or £7.30 per week better off than right now, which you appear to be ignoring.

Its called making the numbers fit your argument - are you new here?

This is what the likes of Mr Fish do - ask him about LVT - surely even his craziest notion to data!!

Re: Budget 2013 : Wed Mar 20, 2013 7:43 pm  

Sal Paradise wrote:

Its called making the numbers fit your argument - are you new here?

This is what the likes of Mr Fish do - ask him about LVT - surely even his craziest notion to data!!

What is crazy about Land Value Taxation?

Re: Budget 2013 : Wed Mar 20, 2013 7:52 pm  

Personal allowance now is £8,105 it will be £10,000 that means you will save 20% of the difference 1,895 that being £379 over a year. Plus the savings in NI threshold. Under this government the tax threshhold will have risen by £3,525 at 20% a saving of £705 a year plus NI.

Re: Budget 2013 : Wed Mar 20, 2013 7:59 pm  

Sal Paradise wrote:

Personal allowance now is £8,105 it will be £10,000 that means you will save 20% of the difference 1,895 that being £379 over a year. Plus the savings in NI threshold. Under this government the tax threshhold will have risen by £3,525 at 20% a saving of £705 a year plus NI.

It may have escaped your notice but we are discussing THIS YEAR'S BUDGET

Re: Budget 2013 : Wed Mar 20, 2013 8:56 pm  

Ferocious Aardvark wrote:

Beer duty escalator scrapped AND a penny a pint off beer duty.

I take back everything I ever said about Gideon.

And added 2p per litre on cider

the 2@

[DaveO]

Re: Budget 2013 : Wed Mar 20, 2013 9:24 pm  

Derwent wrote:

But ~£380 pa or £7.30 per week better off than right now, which you appear to be ignoring.

The only sensible calculation is between last year and this and not what might be next year because we have no idea what else is going to change that affects the net disposable income of anyone.

According to the BBC budget calculator someone on £20K a year will save £267 in tax and £18 in NI.

It's fairly pointless quoting that though because if you like the odd glass of wine , spirits or drive your net gain is less.

You have to take all circumstances into account.

For example if you have a kid and earn a higher salary and start to lose child benefit if one of the family hits the threshold you are soon worse off than last year. Even more so with two kids. A family with one person earning 52400 and the other at home looking after the 2 kids will be £132 worse off. A family with two working on exactly half that wage each are £562 better off. Idiotic state of affairs.

Of course it all changes when you earn £185K or more thanks to the cut in top rate of tax. Then even losing all the child benefit for your two kids is offset by the gains in lower tax and NI.

"Progressive" taxation? Osborne doesn't know the meaning of the word.