Join the Labour Party and save your country!
Comments
-
I thought it was fairly obviously a flippant comment.Dorset_Boy said:
Nonsense. Mediocrity has nothing to do with it. A typical display of london centric BS.rjsterry said:
Strive for mediocrity!Dorset_Boy said:
Don't make a profit of over £250 k and you'll stick at 19% Corporation Tax raterjsterry said:
It is. But then you have to add on the employer's NIC increase as well.Stevo_666 said:
The current corporation tax rate is still 3 percentage points lower than when Labour were last in power.rjsterry said:
Corporation. Tax. Up. Six. Percentage. Points.Stevo_666 said:
I see it as a lesser of two evils as while there is clearly room for improvement now, the lefties would have gone further, especially in terms of their approach to business and anyone vaguely successful. Imagine if Labour had won in 2019...surrey_commuter said:
you may have kept the lefties out but you certainly did not keep their policies outStevo_666 said:
If you define short term success as around a decade of keeping the lefties out of power, OKsecretsqirrel said:The £3 socialists did achieve some short term success. However the result has been a ‘batsh*t crazy’ tory party, unopposed leaving a trail of destruction, and potential for a new monster in a unopposed Labour party after the next election.
Well played 😆
Careful what you wish for though, especially if you're vaguely successful.
I'm sure if they have just one more term they'll definitely bring taxes down then. They really mean it this time, honest.
Entirely depends on the size of your business. If you look like making £255k profit, make a £5k pension contribution from the company etc.
Plenty of small business owners are more than happy with the living the earn whilst having profits of under £250k, and run extremely good businesses too.
Obviously for smaller firms, that's great, but it's hardly an incentive to push for more is it?1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
I could be wrong but if you make £249k you are not paying 19%. Is it not marginal starting at 19% at £50k before incrementally rising until £250k where you then pay the full 25%.Dorset_Boy said:
Where do I suggest it is?rick_chasey said:
What you’re describing isn’t growthDorset_Boy said:
Nonsense. Mediocrity has nothing to do with it. A typical display of london centric BS.rjsterry said:
Strive for mediocrity!Dorset_Boy said:
Don't make a profit of over £250 k and you'll stick at 19% Corporation Tax raterjsterry said:
It is. But then you have to add on the employer's NIC increase as well.Stevo_666 said:
The current corporation tax rate is still 3 percentage points lower than when Labour were last in power.rjsterry said:
Corporation. Tax. Up. Six. Percentage. Points.Stevo_666 said:
I see it as a lesser of two evils as while there is clearly room for improvement now, the lefties would have gone further, especially in terms of their approach to business and anyone vaguely successful. Imagine if Labour had won in 2019...surrey_commuter said:
you may have kept the lefties out but you certainly did not keep their policies outStevo_666 said:
If you define short term success as around a decade of keeping the lefties out of power, OKsecretsqirrel said:The £3 socialists did achieve some short term success. However the result has been a ‘batsh*t crazy’ tory party, unopposed leaving a trail of destruction, and potential for a new monster in a unopposed Labour party after the next election.
Well played 😆
Careful what you wish for though, especially if you're vaguely successful.
I'm sure if they have just one more term they'll definitely bring taxes down then. They really mean it this time, honest.
Entirely depends on the size of your business. If you look like making £255k profit, make a £5k pension contribution from the company etc.
Plenty of small business owners are more than happy with the living the earn whilst having profits of under £250k, and run extremely good businesses too.
I was responding to RJST complaining about the hike in Corporation Tax for businesses making profits of over £250k, and that if around the margin, you can reduce the taxable profit to remain at 19%.
If turnover goes up by say 20% but the profit remains the same is that growth?
If turnover falls but the profit grows, is that growth?
This is still very much a tax rise that penalises SME’s who don’t have the financial resources to ‘limit’ their tax exposure like bigger organisations.0 -
In fact looking if you make between £50k and £250k you actually pay an effective rate of 26.5%. Cracking!0
-
SME’s getting whacked again. I hope a Tory candidate pays our business a visit and try’s to tell me they are the party of business. I will run them out the place.
Thatcher must be spinning in her grave.0 -
My reading of it, following what you said is that you pay 19% on the first £50k and then the 26.5% on the profit over £50k upto £250k,skyblueamateur said:In fact looking if you make between £50k and £250k you actually pay an effective rate of 26.5%. Cracking!
0 -
That would make sense tbf. Still a sh1tshow though.0
-
The guidance on the .gov website was definitely written by a bureaucrat, probably on secondment from the FCA as it is incomprehensible! It doesn't give any examples either. Have found this explanation:skyblueamateur said:That would make sense tbf. Still a sh1tshow though.
How will ‘marginal relief’ work between the two rates of Corporation Tax?
The new system of taper relief will be the same as that used for CT in the 2014/15 tax year (the last time marginal relief applied to CT). With this in mind, use the following formula to calculate your CT tax liability:
Let’s use an example annual profit figure of £80,000.
a) Multiply your annual profits by the main 25% rate (£20,000).
b) Subtract your annual profits from the £250,000 threshold (£170,000).
c) Multiply step (b) by the marginal rate multiplier of 3/200 (£2,550).
d) Take away step (c) from step (a) – £20,000 – £2,550 (£17,450).
So, in this example, the CT liability is £17,450. This represents a tax increase of £2,250.
In other words, there will be a 26.5% CT rate between £50,000 and £250,000.
And some examples:
The Effective Corporation Tax rate at various profit levels will be:
Profits £50,000 £75,000 £100,000 £150,000 £200,000 £250,000
Effective CT % 19.00% 21.50% 22.75% 24.00% 24.63% 25.00%
This Effective Rate applies to the whole of the profits.
0 -
Thank you. I couldn’t come across anything conclusive. From what I can see the example of spending £6k to take you just under the threshold of £250k is pretty negligible unfortunately.
It’s definitely not a tax rise I see as being ‘pro-business’ unfortunately.0 -
It could have been simplified but I guess they've done away with 'scope' around the margins.skyblueamateur said:Thank you. I couldn’t come across anything conclusive. From what I can see the example of spending £6k to take you just under the threshold of £250k is pretty negligible unfortunately.
It’s definitely not a tax rise I see as being ‘pro-business’ unfortunately.
No one is going to like a hike of 6% in the tax they pay though.0 -
You're missing the point here.rick_chasey said:So now you’re describing reducing profit margins to avoid tax?
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
I guess not. Don't worry, he doesn't have much of consequence to say in any event.Stevo_666 said:@Dorset_Boy do you know what Pangolin is on about?
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Please explainStevo_666 said:
You're missing the point here.rick_chasey said:So now you’re describing reducing profit margins to avoid tax?
0 -
Dorset Boy isn't trying to say what Rick thinks he is trying to say above. Did I really need to do that?skyblueamateur said:
Please explainStevo_666 said:
You're missing the point here.rick_chasey said:So now you’re describing reducing profit margins to avoid tax?
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Yes please0
-
I just did.skyblueamateur said:Yes please
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Fantastic 😂0
-
Read my reply again, if you cant understand it then there's not much hope for youskyblueamateur said:Fantastic 😂
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Khan out there making Labour toxic in London
0 -
This is a shocker. Kind of thing you'd expect from UKIP or the Tories.
0 -
A valid target - the general state of the CJS - but a terrible way to approach it.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
That is pathetic. I despair of the way politics is now conducted.0
-
Guess it's designed to appeal to a certain type of voter.
It's a shame, it's a completely valid point, the current state of the justice system should mean that any idea of the conservatives as the law and order party is completely lost. This is just the other team trying to do what Boris did to Starmer re Jimmy Savile0 -
Pretty obvious why sinking to that level is a terrible idea.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Unfortunately I think it might work well for Labour.
I don't think it's going to turn any labour supporters off enough, and it's a fairly straightforward way of attacking a key failing (the justice system).
The Tories will have to dig up some very old crime figures to do a comparison, and even then if it is favourable, sticking a picture of Tony Blair up against some stats doesn't quite have the same impact.0 -
-
It's obviously not designed to appeal to people who already support Labour. Sunak hasn't touched the sentencing guidelines, and I'd be fairly sure neither Truss nor Johnson changed them either. If they wanted to make a point about underfunding of the CJS there are a hundred better ways than this.Jezyboy said:Unfortunately I think it might work well for Labour.
I don't think it's going to turn any labour supporters off enough, and it's a fairly straightforward way of attacking a key failing (the justice system).
The Tories will have to dig up some very old crime figures to do a comparison, and even then if it is favourable, sticking a picture of Tony Blair up against some stats doesn't quite have the same impact.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Sure, but few of them are as likely to blow up as this. Labour can produce this, and they can get their adds in the right wing press for free!rjsterry said:
It's obviously not designed to appeal to people who already support Labour. Sunak hasn't touched the sentencing guidelines, and I'd be fairly sure neither Truss nor Johnson changed them either. If they wanted to make a point about underfunding of the CJS there are a hundred better ways than this.Jezyboy said:Unfortunately I think it might work well for Labour.
I don't think it's going to turn any labour supporters off enough, and it's a fairly straightforward way of attacking a key failing (the justice system).
The Tories will have to dig up some very old crime figures to do a comparison, and even then if it is favourable, sticking a picture of Tony Blair up against some stats doesn't quite have the same impact.
0 -
Doubled down with another on gun crime, in the week the Liverpool baby killer was sentenced to 40+ years, having only committed the murder a few months ago.
It'll just turn voters off all parties.0 -
It’s annoying as plainly crime has gone up and certain petty crime is basically legal as the rozzers can’t or won’t enforce it.
Tories are *not* the law and order party.0
