Budget predictions/ discussion


(Jeff puckering) #1

Anyone got any budget predictions or worries for tomorrow? Lots of talk about ISAs and pension allowances being a focus!

https://www.moneywise.co.uk/news/2018-10-23/autumn-budget-2018-tricks-or-treats-chancellor-philip-hammond-moneywise-rounds-the

(Similar speculation as with every budget but let’s see what you think!)


(Emma) #2

Apparently there’s a Brexit 50p being introduced. Glad they’re taking time to introduce things that’ll improve people’s lives :face_with_raised_eyebrow:


(Jeff puckering) #3


(Emma) #4

Yeah. It adds great value to all our lives.

I really hope they do something about Universal Credit. It’s a great idea but in reality it’s an absolute shambles. Increase the tax threshold for low earners, shake up the ISAs a bit and ringfence tax to pay for the NHS


(Jeff puckering) #5

Good to know where their priorities are, celebrating something that that is looking less likely to be successful by the day!

Agree universal credit has really fallen over and needs to be acnowledged.

I’m expecting some interesting things with a combination of capital gains, lifetime allowance or higher earner tax to give Hammond some extra income…


(Alex Sherwood) #6

Well this is interesting..


(Alex Sherwood) #7

Good news for house builders?


#8

(Vladislav Kozub) #9

Wow, I am pretty sure I have seen HMRC’s intentions to raise the PA to £12,000 by 2020. This move is a lot of a positive difference for basic rate taxpayers.


#10

They have effectively brought it forward by a year. But any tax break is good especially for lower income households. The higher end tax cut is good to as well as it shaves off another £730 per/year.


#11

Seems like a cop out, like we cannot fix our tax code so hey here’s some more tax laws to poke holes through… saw this yesterday:


#12

Business rates relief is massive for me! One of my pubs has an RV of £48,500, and a third off will be incredibly helpful. Duty freeze on beer, cider and spirits welcome too.