What does it all mean then?

The childcare thing doesn't actually work though.

 

At the moment it equates to either a morning or afternoon.

 

30 hours though is 6 hours a day, which doesn't work for most schools

Owt is better than nowt. It's obviously an incentive to encourage people back to work but for us where the Mrs has been back in work since he was 9 months (and I know many people go back even earlier) it is a welcome reduction in our highest monthly cost.

 

Fuck me, it doesn't bear thinking about having triplets. As a women with a career you would be completely fucked.

 

Bag it up gents!

Owt is better than nowt. It's obviously an incentive to encourage people back to work but for us where the Mrs has been back in work since he was 9 months (and I know many people go back even earlier) it is a welcome reduction in our highest monthly cost.

 

Fuck me, it doesn't bear thinking about having triplets. As a women with a career you would be completely fucked.

 

Bag it up gents!

You and your missus both work and you get £900 a month from the state for child care?

Them teachers will soon be striking

Well I've just done the old budget calculator and it reckons we'll be £1300 a year worse off. That's for 2 people both working in jobs which earn under the national average and with a 15 week old baby. In addition as we both work in the public sector we can expect no more than a 1% rise in pay over the next 4 years.

 

Thanks George!

You will be worse off by £1,701.80

 

Wife has been told to go back to work when the baby turns 1

Edited July 9, 201511 yr by Danny G

Well I've just done the old budget calculator and it reckons we'll be £1300 a year worse off. That's for 2 people both working in jobs which earn under the national average and with a 15 week old baby. In addition as we both work in the public sector we can expect no more than a 1% rise in pay over the next 4 years.

 

Thanks George!

 

 

i've not had a rise for 5 years

 

i actually think this is the first budget that ive actually 'gained'

 

a massive 100 quid or so

oh aye, i'm generally a tory, but i think this massive increase in wages is risky

 

surely its gonna lead to inflation or job losses

Limiting Mortgage Tax Relief to the basic rate is another unfair tax on Landlords.....businesses can claim interest on business loans so why should Landlords be any different?

 

Interest paid on loans taken out by businesses is a deductible expense from your final profit or loss figure when your tax bill is calculated. 

 

 

what makes a tax fair

 

one that doesn't affect you?

I get fuck all interest relief, I wasn't even aware you got basic rate never mind higher. Who the fuck brought that in? Us, the taxpayer, subsidising your business that doesn't even employ anyone. Get to fuck.

what makes a tax fair

 

one that doesn't affect you?

I have never had an issue in paying my fair share of tax but I think it is unfair when I run a business and can't claim tax relief in the same way that other businesses do.

i've not had a rise for 5 years

 

i actually think this is the first budget that ive actually 'gained'

 

a massive 100 quid or so

My point was - for all the rhetoric about helping 'hard working families' the opposite would appear to be true - for our family at least. £1300 is a sizable chunk of our income - it's about 5 weeks pay for me.

I have never had an issue in paying my fair share of tax but I think it is unfair when I run a business and can't claim tax relief in the same way that other businesses do.

 

 

Intersting point

 

Many BTLs are done through companies; I guess more will go that way and be able to claim full mortgage tax relief (@18%)

I have never had an issue in paying my fair share of tax but I think it is unfair when I run a business and can't claim tax relief in the same way that other businesses do.

But you do, you was just claiming a much higher rate of tax relief than businesses.

 

18% for businesses, 20% (was 40%) for individuals.

Intersting point

 

Many BTLs are done through companies; I guess more will go that way and be able to claim full mortgage tax relief (@18%)

There are no lenders (that I am aware of) that will lend to a limited company these days because they just think the limited liability is too much of a risk in a volatile housing market

You and your missus both work and you get £900 a month from the state for child care?

No. We both work and get nowt from the state.

 

Full time child care is near on 900 a month. It was £984 when we were in Manchester in case you haven't seen any of my many previous rants on the matter.

My point was - for all the rhetoric about helping 'hard working families' the opposite would appear to be true - for our family at least. £1300 is a sizable chunk of our income - it's about 5 weeks pay for me.

 

 

and mine is that in my lifetime, it always seems those at the top and those athe bottom do ok

 

them in the middle usually suffer the pain

 

 

 

and once again, even tho birch comes across a bit of a nob whining about the 40% he is spot on with the joint income point

 

birch, whats the upper limit for NI?

and mine is that in my lifetime, it always seems those at the top and those athe bottom do ok

 

them in the middle usually suffer the pain

 

 

 

and once again, even tho birch comes across a bit of a nob whining about the 40% he is spot on with the joint income point

 

birch, whats the upper limit for NI?

 

 

 

£42,385, I think

£42,385, I think

 

 

do we know why there is an upper limit?

A relative of mine was moaning the other week that she got taxed 150 quid, even though she gets a grand a month back in other benefits

oh aye, i'm generally a tory, but i think this massive increase in wages is risky

 

surely its gonna lead to inflation or job losses

 

both.

Well I be blowed

 

We will be a bit better off

 

Cheers, George!

and mine is that in my lifetime, it always seems those at the top and those athe bottom do ok

 

them in the middle usually suffer the pain

 

 

 

and once again, even tho birch comes across a bit of a nob whining about the 40% he is spot on with the joint income point

 

birch, whats the upper limit for NI?

 

Up to £112 per week, pay no NI, gain no stamp (as was!).

£112 to £155, pay no NI but get stamp credit.

£155 to £770, pay 12% less refund of 1.4% if in contracted-out pension.

£770 to £815, pay 12% and no refund.

Over £815 per week, no payment (and no additional benefit).

OAP nil whether working or not, and the saving on NI is grossed up at marginal income tax rate.

Up to £112 per week, pay no NI, gain no stamp (as was!).

£112 to £155, pay no NI but get stamp credit.

£155 to £770, pay 12% less refund of 1.4% if in contracted-out pension.

£770 to £815, pay 12% and no refund.

Over £815 per week, no payment (and no additional benefit).

OAP nil whether working or not, and the saving on NI is grossed up at marginal income tax rate.

 

 

What's the contracted out rate for next year, Malc?

What's the contracted out rate for next year, Malc?

 

As it stands contracting out will end this year.

So unless that is deferred in the Autumn Statement (usually first week of December) there will be no rebate next year and full rate will apply.

both.

 

 

can we be serious and cut out the in jokes