Andy Onchan Posted November 17, 2022 Share Posted November 17, 2022 49 minutes ago, Nom de plume said: Unconfirmed reports that they are looking at a money grab from company owners & Directors who take dividends. Political suicide and a massive RIP to the IOM if any truth in it. How's that going to work if those owners who take dividends already pay income tax on it? Or are you talking about non-resident owners? Quote Link to comment Share on other sites More sharing options...
John Wright Posted November 17, 2022 Share Posted November 17, 2022 Just now, Andy Onchan said: How's that going to work if those owners who take dividends already pay income tax on it? Or are you talking about non-resident owners? They don’t pay NI. Employers, employees, self employed, nada Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted November 17, 2022 Share Posted November 17, 2022 4 minutes ago, John Wright said: They don’t pay NI. Employers, employees, self employed, nada Who says they don't? I know what you're saying but many small businesses and self-employed will have no choice but to pass on the additional costs to their customers. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted November 17, 2022 Share Posted November 17, 2022 13 minutes ago, John Wright said: What no one seems to realise is that HNWI, dividends for owners/directors of self run businesses and 0% company taxation apart the IoM is a high tax jurisdiction already. Logically then, these privileged groups should be "brought into the taxation fold" joining everybody else who's already in it. Chances of it.....? 1 1 Quote Link to comment Share on other sites More sharing options...
John Wright Posted November 17, 2022 Share Posted November 17, 2022 1 minute ago, Andy Onchan said: Who says they don't? I know what you're saying but many small businesses and self-employed will have no choice but to pass on the additional costs to their customers. Andy, it’s a fact that there is no NI on dividends. Im sure there will be transitional costs to pass on. Quote Link to comment Share on other sites More sharing options...
John Wright Posted November 17, 2022 Share Posted November 17, 2022 5 minutes ago, Non-Believer said: Logically then, these privileged groups should be "brought into the taxation fold" joining everybody else who's already in it. Chances of it.....? 1. Logically? Yes 2. Chances? low to zero 2 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted November 17, 2022 Share Posted November 17, 2022 11 minutes ago, John Wright said: Andy, it’s a fact that there is no NI on dividends. Im sure there will be transitional costs to pass on. I think there's some angry dolphins going on here (cross porpoises). I know there's no NI of dividends. Quote Link to comment Share on other sites More sharing options...
Banker Posted November 17, 2022 Author Share Posted November 17, 2022 (edited) 36 minutes ago, John Wright said: Aren’t CS pensions linked to CS wage increases, not CP? No they’re linked to CPI with no cap same as UK so in 2021 they got 3.1% & I think 0.5% 2020 when wages went up more Most private sector schemes are capped at maximum of 3 or 5% but not public sector ones Edited November 17, 2022 by Banker Quote Link to comment Share on other sites More sharing options...
Pipsqueak Posted November 17, 2022 Share Posted November 17, 2022 39 minutes ago, John Wright said: Aren’t CS pensions linked to CS wage increases, not CP? VED on electric is inevitable. The abortive change to weight based rather than cc or pollution was a tentative 1st step. Wasn’t explained well and they lost their nerve. Personal Allowances will be frozen. NI on dividends Remove employee and employer ceilings on NI and hypothecate for state ( not CS ) pensions, social care and health. What no one seems to realise is that HNWI, dividends for owners/directors of self run businesses and 0% company taxation apart the IoM is a high tax jurisdiction already. Income tax 20% NI 22% VAT 20% NI 22% !!! are you sure? Quote Link to comment Share on other sites More sharing options...
mad_manx Posted November 17, 2022 Share Posted November 17, 2022 1 hour ago, GreyWolf said: If you can afford a leccy car you can afford to pay road tax. Agree. One of my cars is an EV and I agree that it should be taxed . Otherwise its not fair on other road users.. 1 1 Quote Link to comment Share on other sites More sharing options...
John Wright Posted November 17, 2022 Share Posted November 17, 2022 6 minutes ago, Pipsqueak said: NI 22% !!! are you sure? Actually it’s 23.8% for most employed people. 11% by the employee and 12.8% by the employer. Subject to lower and upper earnings limits. I was rounding for convenience. Quote Link to comment Share on other sites More sharing options...
forestboy Posted November 17, 2022 Share Posted November 17, 2022 1 hour ago, GreyWolf said: If you can afford a leccy car you can afford to pay road tax. And bring it in from April 2023. 3 Quote Link to comment Share on other sites More sharing options...
Nom de plume Posted November 17, 2022 Share Posted November 17, 2022 14 minutes ago, John Wright said: Actually it’s 23.8% for most employed people. 11% by the employee and 12.8% by the employer. Subject to lower and upper earnings limits. I was rounding for convenience. An awful lot of employees (general public at large) have little understanding of what company Directors pay to the tax office. NHI is 'double bubble' for the Govt. Quote Link to comment Share on other sites More sharing options...
P.K. Posted November 17, 2022 Share Posted November 17, 2022 What a bunch of f~cking shysters: OBR: fuel duty going up in March Jeremy Hunt didn’t mention this in his statement, but the Office for Budget Responsibility says fuel duty is set to rise by 23% next March. This will add £5.7bn to tax receipts next year, which would be a record cash increase, the budget watchdog says. It would be the first time that any Government has raised fuel duty rates in cash terms since 1 January 2011. It is expected to raise the price of petrol and diesel by around 12p a litre, the OBR adds. 1 Quote Link to comment Share on other sites More sharing options...
Cambon Posted November 17, 2022 Share Posted November 17, 2022 13 minutes ago, P.K. said: What a bunch of f~cking shysters: OBR: fuel duty going up in March Jeremy Hunt didn’t mention this in his statement, but the Office for Budget Responsibility says fuel duty is set to rise by 23% next March. This will add £5.7bn to tax receipts next year, which would be a record cash increase, the budget watchdog says. It would be the first time that any Government has raised fuel duty rates in cash terms since 1 January 2011. It is expected to raise the price of petrol and diesel by around 12p a litre, the OBR adds. We'll, they cut fuel duty earlier this year by about 8%. So, in reality it is just going back to what it was plus an adjustment for inflation, plus the obligatory VAT. The real point is that during the gas crisis, there has not been a shortage of petrol or diesel, but the prices have gone up in sympathy. Petrol over here at the moment is £159.9. It should be around £149.9, maybe a touch less. 2 Quote Link to comment Share on other sites More sharing options...
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