Jam_Sandwich Posted October 1, 2014 Share Posted October 1, 2014 For the lower earners on the islandThis is going to be a strong influence of Island or Mainland.Isle of Man needs to respond. Link to comment Share on other sites More sharing options...
NeverAgain Posted October 1, 2014 Share Posted October 1, 2014 For the lower earners on the island This is going to be a strong influence of Island or Mainland. Isle of Man needs to respond. Hopefully the IOM will respond, I somehow doubt it though, the only seem to increase the personal allowance £500 at a time. Link to comment Share on other sites More sharing options...
woolley Posted October 1, 2014 Share Posted October 1, 2014 I doubt there will be more than an inflation rise here. It is established now that UK has higher personal allowances than we do. If they were going to move on it they wouldn't have allowed themselves to be bettered last year. If you are on a higher than average salary you gain from the tax rates against the UK, and if you are low paid you don't matter that much in the grand scheme of things, so if you bugger off in disgust I don't think govt will shed any tears. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted October 1, 2014 Share Posted October 1, 2014 For the lower earners on the island This is going to be a strong influence of Island or Mainland. Isle of Man needs to respond. Hopefully the IOM will respond, I somehow doubt it though, the only seem to increase the personal allowance £500 at a time. I doubt they will...For the main reason that it could be used to attempt to keep local unemployment down here by deterring migrants who will be far better off in the UK. The effect, lower unemployment perhaps, but the low paid here far less well off than their counterparts in the UK. Link to comment Share on other sites More sharing options...
alibaba Posted October 1, 2014 Share Posted October 1, 2014 They (the IOM gov) should move the personal allowance to £13000, the 10% band to £25000 and put the higher rate up to 22%. And move the cap to £250000, and then leave it alone for 10 years. Link to comment Share on other sites More sharing options...
Jam_Sandwich Posted October 1, 2014 Author Share Posted October 1, 2014 For the lower earners on the island This is going to be a strong influence of Island or Mainland. Isle of Man needs to respond. Hopefully the IOM will respond, I somehow doubt it though, the only seem to increase the personal allowance £500 at a time. I doubt they will...For the main reason that it could be used to attempt to keep local unemployment down here by deterring migrants who will be far better off in the UK. The effect, lower unemployment perhaps, but the low paid here far less well off than their counterparts in the UK. Problem with that is Eventually if the low earners on the island cotton on. We'll have a drain of unskilled labour on the island anyway. We've already got a brain drain as I think barely 10% of those I left school with have remained on the island. Link to comment Share on other sites More sharing options...
Lost Login Posted October 1, 2014 Share Posted October 1, 2014 They (the IOM gov) should move the personal allowance to £13000, the 10% band to £25000 and put the higher rate up to 22%. And move the cap to £250000, and then leave it alone for 10 years. Definatly not in favour of lowering the tax cap. Link to comment Share on other sites More sharing options...
woolley Posted October 1, 2014 Share Posted October 1, 2014 They (the IOM gov) should move the personal allowance to £13000, the 10% band to £25000 and put the higher rate up to 22%. And move the cap to £250000, and then leave it alone for 10 years. Definatly not in favour of lowering the tax cap. That would be doubling the tax cap. Link to comment Share on other sites More sharing options...
UncleBilly Posted October 1, 2014 Share Posted October 1, 2014 http://www.thedailymash.co.uk/politics/politics-headlines/tories-target-ordinary-working-bastards-2014093091172 Cameron unveiled an array of bastard-friendly policies including a ban on being disabled, the death penalty for anyone turning a car in anyone else’s drive and legalising pushing people over in the street if you are in a hurry. Political analyst Nikki Hollis said: “Reaching out to the bastards is a shrewd move because UKIP has nailed the twat vote. There are over eight million bastards in Britain, mostly in London and its suburbs.” Nothing in there about the personal tax allowance Link to comment Share on other sites More sharing options...
Tarne Posted October 1, 2014 Share Posted October 1, 2014 Yes, the Isle of Man should respond, and change the tax brackets... if only we had voted people in who would actually do that. Oh wait... we didn't. Link to comment Share on other sites More sharing options...
samster Posted October 2, 2014 Share Posted October 2, 2014 This is only IF the tories are elected next term and only during that term so it MAY not happen for up to 5 years. Link to comment Share on other sites More sharing options...
Lost Login Posted October 2, 2014 Share Posted October 2, 2014 They (the IOM gov) should move the personal allowance to £13000, the 10% band to £25000 and put the higher rate up to 22%. And move the cap to £250000, and then leave it alone for 10 years. Definatly not in favour of lowering the tax cap. That would be doubling the tax cap. Sorry, I read it to mean that was the level of income at which it was worth electing to be tax capped rather than the the amount payable. The tax cap in my view is a failed policy and should be scrapped. 0/10 should be 0/20 and a wider range of companies should be included in the taxable band. It would not cover the loss in VAT revenue but it would contribute without adversly affecting the economy. Link to comment Share on other sites More sharing options...
The Border Terrier Posted October 10, 2014 Share Posted October 10, 2014 I doubt there will be more than an inflation rise here. It is established now that UK has higher personal allowances than we do. If they were going to move on it they wouldn't have allowed themselves to be bettered last year. If you are on a higher than average salary you gain from the tax rates against the UK, and if you are low paid you don't matter that much in the grand scheme of things, so if you bugger off in disgust I don't think govt will shed any tears. >and if you are low paid you don't matter that much in the grand scheme of things, so if you bugger off in disgust I don't think govt will shed any tears. Plenty of low paid jobs are of vital importance. e.g. cleaners. Plenty of high paid jobs are insignificant. e.g. hospital managers. Would society rather lose a bin man or David Killip from the payroll, disregarding finance, which loss would have the greater significance. Too many have an over inflated view of their importance, checkout most Facebook pages for proof...and with pride coming before a fall. TBT. Link to comment Share on other sites More sharing options...
Jam_Sandwich Posted October 14, 2014 Author Share Posted October 14, 2014 Was in the other thread but thought I'd shove hereUsing next years personal allowance of £10,500 in the UK:Gross Wage: 20,000Taxable Wage: 9,500Tax Paid: 1,900NIC: 1,445Annual Take Home: 16,655Monthly Take Home: 1,388With £12,500 PAGross Wage: 20,000Taxable Wage: 7,500Tax Paid: 1,500NIC: 1,445Annual Take Home: 17,055Monthly Take Home: 1,421Isle of Man as isGross Wage: 20,000Taxable Wage: 10,500Tax Paid: 1,049NIC: 1,514Annual Take Home: 17,437Monthly Take Home: 1,453 Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.