Chancellor’s ‘Autumn Statement’
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Today George Osbourne made his ‘Autumn Statement’ – we have run two associated stories, one on the small business rate relief, and another on the claim that nearly 51,000 people in Wrexham are better off!
Are you one of these 50,900 people quoted?
How has today’s mini budget affected you?
impossible to believe a word Aled Roberts says after his handling of wrexhamfc & the student development when he was council leader.
Almost every government for the last 30 years has made an april tax cut, if you believe aled roberts statement. That’s because, the income tax threshold usually goes up in april.
nobody has asked him where he has got his figures from. Therefore the Media are to blame for not asking him and giving him publicity.
If I heard correctly in England council tax is to be frozen for the third year in a row , while here in Wales it continues its relentless rise.
The basic tax allowance is rising for everyone in work but many people who have worked hard throughout their working life and progressed to the top of their profession will find themselves dragged into the higher rate tax bracket. The way to encourage people to work harder is to allow them to keep more of their earnings not less.
Quite agree with Wrexview on general principles. The Business rates matter is hugely important in a town like Wrexham because if the Public Sector jobs are being squeezed then small businesses have to take up the slack. Business rates are a front loaded tax, paid irrespective of profitability and prevent people with good ideas opening a business or expanding the same. If there are to be taxes on businesses, at least tax profits
@thewayneinspain 2641 wrote:
nobody has asked him where he has got his figures from. Therefore the Media are to blame for not asking him and giving him publicity.
We have asked today – so will publish a reply, or none reply as well ;)
@Alunh 2644 wrote:
If there are to be taxes on businesses, at least tax profits
Its interesting on that front to note that corporation tax dropped by 1% in 2014.
@Rob 2645 wrote:
Its interesting on that front to note that corporation tax dropped by 1% in 2014.
They’ll get that back in fines to small businesses.
The HRMC does taxation through the backdoor against small businesses & freelancers.
500k letters went out in August for late self assessments with a 1,200 fine.
Late with p60s to hrmc? That’s 100 quid per employee.
Late with paye to hrmc? that’s another 100 quid per occasion.
and so on…If you’re small business, you can’t always afford the accountancy fees to find out if your are doing anything wrong until its too late. Only the Starbucks, Amazons & Googles have the staff to cover this.
The best thing for small businesses would be to double the VAT threshold, double the corporation threshold and double the self assesment tax threshold. And to encourage saving, double the capital gains tax threshold.
Personally I feel the corporation tax should be exactly the same as the personal tax allowance. Otherwise those with directorships in the banks pay less tax than those in their canteens.
Still it must be said it’s still more motivational than the spanish tax system towards small businesses & the self employed… which motivates only a black economy.
@Rob 2645 wrote:
We have asked today – so will publish a reply, or none reply as well ;)
Has he replied now or is he doing his usual ‘blanking’ when he’s faced with an awkward question?
Amazing how fast he was to give a quote that was within a few hours of the statement, but now slow when asked for proof to backup his claim. He’s a confidence trickster paid by the tax payers.
There has been a reply, but clarification on methodology has been requested.
It’s national figured issued by Lib Dem HQ, but how they got to it… Who knows – yet!
@Rob 2663 wrote:
There has been a reply, but clarification on methodology has been requested.
It’s national figured issued by Lib Dem HQ, but how they got to it… Who knows – yet!
the figures will be wrong then, as wrexham is not the national average. Did he say if that figure was for the borough or the town. If it’s the borough that means more than half a the popular won’t be getting a tax cut.
Business rates are much cheaper to collect than ‘profits’ as the latter can suddenly miraculously move to Luxembourg or the Isle of Man. Good comments from the wayneinspain – when was the last time the VAT threshold was raised? Corporation tax at 21% and people on £42,000 paying tax at 40% is odd and can’t last in the long term as must be encouraging people to declare income as dividends etc. Good news that at last everyone has to pay some council tax. it’s not fair on people who pay (and you don’t have to be earning much) that some get off paying nothing in at all. otherwise those people will just look on the council as a milch cow. now we just need to add some extra bands at the top for people living in houses worth over £750,000;£1million, £2 million etc.
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