Scoobydick

I think another percent on NI or capital gains on a primary residence??

OllyK

Won't be income tax directly, but reckon another penny or two in the pound on NI is a strong contender.

fast bloke

They can't do that, as B.Liar promised they wouldn't, and we all trust him

Flatcapdriver

Lower rate CGT will be first on principle residence.

OllyK

Unless I am mistaken, they only said they wouldn't change income tax, no mention of NI, which they upped last time for the same reasons.

OllyK

How does "lower rate CGT" qualify as a tax increase?

Flatcapdriver

Because I reckon they'll introduce a rate of around 3-5% CGT on any profit made on the sale of your house, similar to the lower rate VAT on energy costs.

GC8

I predict that they will 'lag' on your personal allowance. Theyve done this every year lowering the non-taxable allowance in real terms.

Simon

OllyK

Ahh - the introduction of an additional lower rate band for CGT, I thought you were suggesting they would just lower the existing rate at which CGT is charged!!

Flatcapdriver

You should be a polly. Tax increase or tax introduction = tax increase in my book.

paulr

Its called democracy.The majority voted for more NHS and education spending.........there's no magic money tree you know.

SD

Nope, Tony B.Liar said the other day about no NI increase this time too, but very carefully worded:

"We promise we won't raise NI contributions again to fund extra revenue for the NHS". Or words to that effect. Guess that means they won't rule it out when they want a bigger budget for John "5 chins" Prescott's pie eating contest or other such nonsense.

GC8

Increased spending on the health service and education cant be a bad thing (if theres a benefit...) but the transport and nanny state crap is unbearable.

Brendan Hughes

Following tax principles I learned 20 yrs ago, doesn't this mean that if you make a loss, you are entitled to offset that loss against your tax bill?

fast bloke

He was on TV yesterday morning with Fiona Phillips and she asked him directly would they increase NI. He said that they would not.

OllyK

The majority did not vote Labour. Less than 40% of the 55% or so that voted actually voted for Labour. The majority voted against Labour

OllyK

Still don't trust him!

TonyG

Perhaps they'll reintroduce the window tax

Flatcapdriver

Don't be daft. The property market is going to boom forever and ever. You simply can't make a loss on property - at least that's the response I got when I mooted the possibility of a market turndown last year.

OllyK

Isn't that how they are doing the council tax re-evaluation?

Brendan Hughes

That's my point. AIUI, you can only charge tax on something that you can rebate if you make a loss on it. We're currently in a boom, with some correction mooted (as it has been for the last 4 years, IIRC...). Put CGT on, and suddenly either a) no-one will want to sell, thus the market will collapse, or b) people will all try to put the CGT on to their original prices, thus pricing out first-time buyers, thus the market will collapse. When the market collapses, people will sell their properties at a loss, claim back the CGT en masse, and promptly bankrupt the Exchequer.

I got a poor grade at Economics, but that's the way I see it.

damian666

Can you really do that?

Brendan Hughes

I'm waiting to be corrected. Our lecturer said this was why you can't charge CGT on an appreciating Ferrari or Aston - coz then everyone who loses on a Ford will claim back.

There's loads here who know more about tax than me, where are they? Voting or summat?

^Qwerty^

They'll tax the internet, or at least usage of it.
How about 1p per email........ how much would that make?

OllyK

I dunno but if it cuts down the 2500 SPAM mails a month I get, I might almost be intrested.

^Qwerty^

SEND not receive

It has to be things they can control, so I can seen the introduction of a Broadband tax coming in at some point. The speed of this will depend on the uptake of streaming TV. (i.e. loss of people paying TV license)

You wouldn't be able to tax the sending of email, because all the ISP's would move the relays to foreign lands and/or provide the facility via a non-uk company.

OllyK

But if I am receiving 2500 per month, some cvnt has to be sending them. If it is going to cost them to send them, they may think twice.


I'm not being serious - most of the SPAM (that I get anyway) does not originate from the UK anyway.

Holy Ghost

i reckon bodger brown will raise vehicle tax on all 4x4 vehicles. just the sort of thing that doesn't hit scroungers, chavnation or the massed ranks of urban civil service bureaucrats.

Dracoro

Isn't your internet connection already taxed?

I know I pay mine X amount plus 17.5% vat.

Scoobydick

What B liar actually said if you listened very carefully is "we won't increase taxis"

He can now increase taxes as much as he likes and not technically be lying