budget analysis: the bus shelter budget

by:YEROO     2019-09-11
It was a well-prepared budget that raised billions of dollars.
It protects poor families to some extent from tax changes, but they still feel the cold wind of VAT increases and welfare changes.
Personal tax allowance has increased by £ 1,000 this year, and it is very welcome to hope that it will increase further in the future.
Holding low-income wages in one hand and returning them as benefits to the other through complex bureaucracy is clearly crazy.
However, taxpayers with higher tax rates will not be able to benefit from this allowance, as the threshold for paying 40% of taxes will be reduced to compensate for higher individual allowances.
People close to the 40% border may be shocked to find that they have become taxpayers with higher tax rates, and higher taxes offset the benefits of increased allowances.
Over time, more and more people will be sucked into the highest tax rate.
The previous government announced an increase of 1% per cent in contributions from employees and employers.
The new prime minister has eased the impact on the employer by acknowledging that the employer\'s national insurance contribution is a tax on the job, preventing the employment of employees by the enterprise.
The growth of employees still exists: there is no news yet as to whether there will be low-paid shelters from this 1% increase.
New capital gains tax (CGT)
Interest rates are 28%: good news for those who are worried about raising interest rates.
It would be wise to keep the duty free limit at 10,100.
As some have advocated, lowering the limit will require thousands of people to enter the complex world of CGT computing.
As a result, smaller gains continue to evade taxes altogether.
The lower tax rate compensated the gains of inflation in a rough way.
The chancellor rightly ruled out the more complex link to the retail price index, which measures inflation, citing complexity.
However, it does mean
Long-term gains will be more than long-term gains. term gains.
One of the reasons for raising the tax rate is to reduce tax avoidance because taxpayers with higher tax rates are trying to re-mark their income as income.
The difference between the maximum income tax rate of 50% and the new CGT rate is 22%.
It is still attractive and will hardly weaken the desire to avoid taxes.
It is no surprise that big companies pay less taxes: this is widely shelved.
What is even more surprising is that the tax rate for small companies is reduced to 20%, the same as the basic tax rate: this is the surprise of income --raising Budget.
Small businesses will also be largely unaffected by the reduction in capital allowances, as their total asset expenditures may be lower than the annual cap of £ 25,000 per year.
As a result, they will continue to receive a 100% reduction in these fees during the purchase year.
Promises to increase pensions by higher income, inflation or 2.
5% some limited protection is provided to pensioners who will be subject to increased VAT.
At the other end of the income scale, the Chancellor promised to look again at the extremely complex restrictions on high-tax pension tax cuts.
This requires urgent attention, as many businesses have already spent a small amount on professional advice when calculating their employees\' tax liabilities.
In the budget document, there is a document that reminds us that members of Congress have received their house --to-
Unlike other populations, work travel is exempt.
If the business pays the employee\'s travel expenses to the office, this reimbursement is taxable.
The government\'s statement that it will \"continue to repay some of its spouse\'s Travels\" has caused a heavy trauma to voters --also on a tax-free basis.
This budget would have been a good time to show that we are all in this area and put our representative in the same tax position as others.
Of course, the expenditure of members is a detail that may even distract the shocking reality of the Treasury bonds we have accumulated.
This budget is a realistic attempt to solve a big problem.
It will be painful, but it does provide some limited tax protection for pensioners and the poor.
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