• UK Budget 2014
    13 replies, posted
[QUOTE=BBC News]- Point at which people start paying income tax will be raised to £10,500 - Bingo duty will be halved to 10% - Threshold for 40p income tax to rise from £41,450 to £41,865 next month and by a further 1% to £42,285 next year - Inheritance tax waived for members of emergency services who give their lives in job - Tax on homes owned through a company to be extended from residential properties worth more than £2m to those worth more than £500,000 - All long-haul flights to carry lower rate of air duty currently charged on flights to US - Cash and shares Isas to be merged into single New Isa with annual tax-free savings limit of £15,000 from 1 July - The 10p tax rate for savers abolished - Cap on Premium Bonds to be lifted from £30,000 to £40,000 in June and £50,000 next year - All tax restrictions on pensioners' access to their pension pots to be removed, ending the requirement to buy an annuity - Taxable part of pension pot taken as cash on retirement to be charged at normal income tax rate, down from 55% - Increase in total pension savings people can take as a lump sum to £30,000 - New Pensioner Bond, paying "market-leading" rates, available from January to over-65s, with possible rates of 2.8% for one-year bond and 4% for three-year bond - up to £10,000 to be saved in each bond - Fuel duty rise planned for September will not happen - Beer duty cut by 1p a pint - Duty on spirits and ordinary cider frozen - Tobacco duty to rise by 2% above inflation and this escalator to be extended beyond the next general election - Twelve-sided £1 coin to be introduced in 2017 - Budget to be capped at £119bn for 2015-16, rising in line with inflation to £127bn in 2018-19. The cap includes child benefit, incapacity benefit, winter fuel payment and income support - but does not include state pension and Jobseeker's Allowance - Help to Buy equity scheme for new-build homes extended to 2020 - Support for building of more than 200,000 new homes - £270m guarantee for Mersey Gateway bridge - Legislation to give Welsh government tax and borrowing powers to fund infrastructure needs, including improvements to M4 - £140m extra for flood defence repairs and maintenance [/QUOTE] [URL="http://www.bbc.co.uk/news/uk-politics-26626280"]More information on the budget can be found here[/URL] Nothing particularly spectacular - the duty freeze on fuel and booze, along with the higher personal tax allowance is nice. More austerity though - not sure how that's going to go down.
[quote]Inheritance tax waived for members of emergency services who give their lives in job[/quote] This should have been in place earlier
[quote]Beer duty cut by 1p a pint[/quote] times a changing
Yay, slightly cheaper beer.
[quote]- £270m guarantee for Mersey Gateway bridge[/quote] What's this? The current government actually investing money in somewhere that isn't London?!
Definitely going to stop smoking tobacco, can't afford two addictions
The new pound coin is kickass.
[QUOTE=Jamsponge;44289052]The new pound coin is kickass.[/QUOTE] I'm just glad I'm not the person who now has to pay to change his vending machines and shit to accept the new coin.
[QUOTE=Genericenemy;44289077]I'm just glad I'm not the person who now has to pay to change his vending machines and shit to accept the new coin.[/QUOTE] unfortunately, I'm more concerned about using vending machines and shit that the owner hasn't paid to upgrade. I have a hard enough time getting some machines to accept the current coins at times.
Only 140M for flood related spending?
[QUOTE=Midas22;44289514]Only 140M for flood related spending?[/QUOTE] It's [i]shockingly[/i] like they learned absolutely [i]nothing![/i]
So, thanks to the Budget, if I buy 320 pints of beer - I get one free.
They'll do a load of tax cuts just before the next election to bribe voters.
[QUOTE=Midas22;44289514]Only 140M for flood related spending?[/QUOTE] Didn't Cameron say money was no object for protecting our towns along rivers? What ever happened to that, or was it just words.
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