Hospitality Call to Arms!

[A fool and his money.....]

17 minutes ago, Happier diner said:

It's only an emergency tax code. They get all the tax back. Everyone pays on the same basis. 

That's very misleading. To all intents and purposes, if you work full time and then take a second job, you will be taxed at 22% for every penny you earn in that second job.

That may not be how the tax office rationalise it, but that is what happens.

I think it's very misleading and disingenuous of the government to say otherwise.

[WTF]

27 minutes ago, A fool and his money..... said:

That's very misleading. To all intents and purposes, if you work full time and then take a second job, you will be taxed at 22% for every penny you earn in that second job.

That may not be how the tax office rationalise it, but that is what happens.

I think it's very misleading and disingenuous of the government to say otherwise.

only if the second jobs pay is all above the threshold for 22% ( and the 11% NI people forget )   , if some isn't you contact the tax office and they will adjust your tax code to allow for that

[jackwhite]

There’s a meeting between the LVA and government next week, from what I’ve heard.

[A fool and his money.....]

3 minutes ago, WTF said:

only if the second jobs pay is all above the threshold for 22% ( and the 11% NI people forget )   , if some isn't you contact the tax office and they will adjust your tax code to allow for that

True, that's why I said if you're working full time - in which case you will (by law) be above the 22% threshold.

[Non-Believer]

6 minutes ago, jackwhite said:

There’s a meeting between the LVA and government next week, from what I’ve heard.

"Challenges facing Govt" etc etc etc

[woolley]

1 hour ago, A fool and his money..... said:

Yes, tax the rich proportionately.

Hello. It's a tax haven. A one trick pony. That's its USP (and it's not even unique).

[A fool and his money.....]

5 minutes ago, woolley said:

Hello. It's a tax haven. A one trick pony. That's its USP (and it's not even unique).

Not working either.

[woolley]

22 minutes ago, A fool and his money..... said:

Not working either.

It is. Perhaps not as well as it once did, mainly due to the former VAT formula, but the overwhelming majority of the economic activity on the Island, both public and private sector, is predicated on it. Very easy to dismiss our only source of wealth so blithely, but what services we enjoy exist because of the tax haven. You may find this unsavoury, but it is a fact of life, and before we go ditching it, we need to know what replaces it.

[The Phantom]

13 hours ago, paswt said:

You are clearly , for reasons best known to yourself , motivated by malice .

If you visited the cafe you would realise that you are wrong .

Did you see her positive post in relation to the road closing for the tyre testing ?  

You evidently are a "know nothing little shit " who I'll warrant  has achieved nothing in your sad  life and cannot  bear to see others succeed .

Hope this helps

Well that's an embarrassing name calling meltdown!  And for the record, I'm a big shit.  Also, isn't the problem that they specifically aren't succeeding and are asking for help?

Genuinely have nothing against them or their business.  In fact, I've been a couple of times and quite liked it.  It would be a viable and likely successful business literally anywhere else on the Island. 

However they have chosen to be place it in a location that is subject to regular closure, be it motorsports, weather, crashes etc.  How many days a year are they completely shut down by external factors?  How many other places are subject to these regular closures?  I appreciate hospitality businesses are often on a knife-edge and they wouldn't be struggling quite so much if they weren't perched on the side of a windswept mountain, regularly being shut down due to external factors. 

[Anthony Ingham]

Taxi fare increases which seem to have been sneaked in from yesterday being discussed on ManninLine

Night time tariff now starts at 23:00 rather than 00:00.  That will mean we head home earlier when out so another knock to hospitality.

[piebaps]

It was announced on 12 April after consultation. See ADN Circular 569 https://www.gov.im/about-the-government/offices/road-transport-licensing-committee/ppv-drivers-operators/ppv-applications-decisions-and-notices-circulars/#accordion

 

[A fool and his money.....]

19 hours ago, woolley said:

It is. Perhaps not as well as it once did, mainly due to the former VAT formula, but the overwhelming majority of the economic activity on the Island, both public and private sector, is predicated on it. Very easy to dismiss our only source of wealth so blithely, but what services we enjoy exist because of the tax haven. You may find this unsavoury, but it is a fact of life, and before we go ditching it, we need to know what replaces it.

The old VAT formula was nothing to do with the tax haven, so in actual fact it works about as well as it ever has, ie not very.

Or at least not very well for most people. Some people do extremely well out of it, most people, not so much.

The trouble with the tax haven thing is that it's largely unquantifiable. And where it is quantifiable (the tax cap for example) we don't bother quantifying it, because then we'd have to admit it was an epic fail.

As such, its importance to the island is a matter of opinion, often such opinions are formed from vested interests.

It's continuation, in political terms, is easy though. It takes little imagination, little courage, little leadership. You just continue to give rich companies and individuals, well, anything they ask for basically, and the money will continue to trickle in. If it's not paying enough, tax the plebs a bit more, cut public services, lay off a few workers. If they complain just tell them that tax dodging is all we've got - trot out the spuds and herring line, there's still enough money to pay our pensions, that's the main thing. We could even import a few thousand more people to tax, properly rip the character out of the place, that should do it.

Edited April 23 by A fool and his money.....

[woolley]

3 hours ago, A fool and his money..... said:

The old VAT formula was nothing to do with the tax haven, so in actual fact it works about as well as it ever has, ie not very.

Or at least not very well for most people. Some people do extremely well out of it, most people, not so much.

The trouble with the tax haven thing is that it's largely unquantifiable. And where it is quantifiable (the tax cap for example) we don't bother quantifying it, because then we'd have to admit it was an epic fail.

As such, its importance to the island is a matter of opinion, often such opinions are formed from vested interests.

It's continuation, in political terms, is easy though. It takes little imagination, little courage, little leadership. You just continue to give rich companies and individuals, well, anything they ask for basically, and the money will continue to trickle in. If it's not paying enough, tax the plebs a bit more, cut public services, lay off a few workers. If they complain just tell them that tax dodging is all we've got - trot out the spuds and herring line, there's still enough money to pay our pensions, that's the main thing. We could even import a few thousand more people to tax, properly rip the character out of the place, that should do it.

There has to be a reason to do business here. It's not the weather, it's not the low energy costs, it's purely financial, and that means low tax. I didn't come here to enjoy the tax haven. I came with barely enough money to start a business because I'd loved the place since I was a kid, but there aren't so many people in that category. There would not be public services to cut without the finance centre to pay for them, and I don't accept that taking a scalpel to the ridiculous government bureaucracy equates to cutting public services in any case. It's cutting waste.

[A fool and his money.....]

I quite agree with the last bit.

[2112]

Another day, another IOMG cave in. According to the NPM, Ministers ( Allinson and Johnston) are to meet with the LVA. Another fine performance from CM Cannan.