How will the budget effect you?

[skyhuck]

  hamdogg said:

Why the buy to let mortgages?

 

  mendiplogs said:

Hi sky fill me in on buy let then there's loads around in the west thanks Jon

 

They are cutting the Tax relief, so if the rent is currently only just covering the mortgage, once the rental income has been taxed there will be a shortfall on the mortgage.

[simonm]

From running a small business point of view the 9 quid odd an hour minimum wage they want to bring in will cause more harm than good! I know people need decent wage to live but what happened to bettering yourself and picking a trade up to enable you to receive more £? Too many people getting their arses wiped! I know people who have worked 2 jobs while at college and come out as sparkies etc and don't get much more than £10 an hour, so why should someone doing unskilled work receive the same??? Bog cleaner £9 quid an hour! Really!

[Goaty]

  skyhuck said:

They are cutting the Tax relief, so if the rent is currently only just covering the mortgage, once the rental income has been taxed there will be a shortfall on the mortgage.

 

I've not reviewed all the budget, but some people buy to let for a pension, due to pitiful pension performance and disappearing state pension.

 

Other Landlords own their properties outright already, so I assume Its unfair from this angle. As they make lots from having got there through buy to let.

 

I am politically oblivious and neither rent a home or buy to let. But Every policy will have unfairness in winners and losers.

 

Personally I've never noticed any real life effect from budgets, except for vehicle related taxes. But eventually we accept them after the intial uproar.

[Goaty]

  simonm said:

From running a small business point of view the 9 quid odd an hour minimum wage they want to bring in will cause more harm than good! I know people need decent wage to live but what happened to bettering yourself and picking a trade up to enable you to receive more £? Too many people getting their arses wiped! I know people who have worked 2 jobs while at college and come out as sparkies etc and don't get much more than £10 an hour, so why should someone doing unskilled work receive the same??? Bog cleaner £9 quid an hour! Really!

 

But really, seeing the state some public toilets are left in would you do it for £9???

 

Attitude and work ethic should be rewarded. Laziness also paid as deserved.

 

In 2 years time £9 will be a lower rate of pay anyway £270 for a 36 hr week. Which many work them hours.

[mendiplogs]

  skyhuck said:

They are cutting the Tax relief, so if the rent is currently only just covering the mortgage, once the rental income has been taxed there will be a shortfall on the mortgage.

 

Hi SKY That will not work all to keep the high end rent market like place like mells bath in Somerset London hows it going to work there's all ways some one willing to pay £2)3000 A month for small cottage somewhere in Somerset thanks John

[Tom D]

I'll be slightly worse off because of the changes to the dividend taxation rate, possibly as much as £2k a year, will have to see.

[Jesse]

Best budget in a very long time

[mendiplogs]

  Jesse said:

Best budget in a very long time

 

Hi JESSE whys this then mate thanks Jon

[mendiplogs]

  Sussex Groundie said:

The review of the Vehicle Excise Duty was kept quiet, just surfacing now. New vehicles over £40,000 and with Emissions greater than 255 from 2017 could attract a high premium. Wonder how long it will be before they go backwards, it's milk floats or nothing!

 

Scroll down to the VED table at the bottom.

 

Budget 2015: new road repair fund and car tax overhaul | Auto Express

 

Hi mate there's loads of vehicles around here going to fall in that group sounds a nightmare what about all the old bangers on the road thanks John

[skyhuck]

  Tom D said:

I'll be slightly worse off because of the changes to the dividend taxation rate, possibly as much as £2k a year, will have to see.

 

Bugger!!!! I'd missed that bit