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Old 20th April 2017, 23:25   #421
me123
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I never knew there was a Nigel Farage show. Turns out ignorance is bliss.
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Old 21st April 2017, 00:10   #422
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Can we stop with this delusion that Corbyn's labour is some sort of hard-left candidate, the economic policies are based on sound Keynesian Theory, and have been proven to be effective multiple times, Previously in the UK, and even in the United States of America.

However considering the smearing that's been going on in the tabloids. (there are scholarly articles, look it up!) I can't say I've any idea how all this will turn out in the polls...
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Old 21st April 2017, 03:03   #423
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Can we stop with this delusion that Corbyn's labour is some sort of hard-left candidate, the economic policies are based on sound Keynesian Theory, and have been proven to be effective multiple times, Previously in the UK, and even in the United States of America.
Sure Keynesian theory is a good way to describe the economy, but it falls down somewhat when used as a planning tool. It is what caused Britain to fall into the recession of the 1970s.

Whilst having a veneer of fairness and stimulus, it is anything but fair. It creates an environment that deters saving and conventional forms of investment; it also deters taking necessary risks and even doing more than the bare minimum. In fact, it merely spreads inefficiency and misery.

And that's before I get onto some of Corbyn's past links to certain Irish Republican figures.
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Old 21st April 2017, 04:25   #424
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Who's Putin voting for?
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Old 21st April 2017, 07:33   #425
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Originally Posted by tspaul26 View Post
Taxpayers with net income over £100,000 per annum do not receive the £11,500 personal allowance.
It's now £123,000 as I've already pointed out which highlights that the Conservatives have given tax cuts to the rich at the same time as there's been a lack of public spending.

See below.
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Old 21st April 2017, 08:18   #426
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It's now £123,000 as I've already pointed out which highlights that the Conservatives have given tax cuts to the rich at the same time as there's been a lack of public spending.

Why do you keep repeating out-of-date figures?
You're both right!

Above £100k, the personal allowance reduces by £1 for every £2 income, so it is correct to say that above £100k you do not receive he £11,500 personal allowance, because you receive less.

At £123k, the personal allowance is zero.

A by product of this is that between £100k and £123k there is a marginal tax/NI rate of 62%.

Personally I think this creates an artificial barrier and makes the tax system complicated. If it was up to me I would abolish the personal allowance taper, and reinstate the additional rate at 50%.
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Old 21st April 2017, 11:13   #427
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You're both right!

Above £100k, the personal allowance reduces by £1 for every £2 income, so it is correct to say that above £100k you do not receive he £11,500 personal allowance, because you receive less.

At £123k, the personal allowance is zero.

A by product of this is that between £100k and £123k there is a marginal tax/NI rate of 62%.

Personally I think this creates an artificial barrier and makes the tax system complicated. If it was up to me I would abolish the personal allowance taper, and reinstate the additional rate at 50%.
Ah OK I wasn't aware of that and it isn't clearly explained on the government website. As tspaul26 gave out-of-date figures for the 40p tax rate earlier on in the thread I thought he'd done the same with the threshold for not getting a personal allowance.
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Old 21st April 2017, 11:22   #428
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I see Labour and the Conservatives will choose their election candidates centrally not locally.

The Lib Dems had already found around 400 candidates in the event of a General Election being called, so still need to find another 250, including one for Southport to replace John Pugh which the local group in Southport will pick. They are expected to select a few LGBT candidates for seats they are targeting.

In NI none of the parties have taken any action yet due to what's going on in Stormont.
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Old 21st April 2017, 11:40   #429
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NHS will be sold off to the Americans under a May lead Tory Government

http://www.independent.co.uk/news/uk...-a7548156.html

On a mobile so can't do required format for links.
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Old 21st April 2017, 12:02   #430
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NHS will be sold off to the Americans under a May lead Tory Government

http://www.independent.co.uk/news/uk...-a7548156.html

On a mobile so can't do required format for links.
You mean that there is a possibility that some parts of the NHS might be contracted out but still provided as a public service?
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Old 21st April 2017, 12:03   #431
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Originally Posted by jcollins View Post
Ah OK I wasn't aware of that and it isn't clearly explained on the government website. As tspaul26 gave out-of-date figures for the 40p tax rate earlier on in the thread I thought he'd done the same with the threshold for not getting a personal allowance.
I have given the current figures.

The cause of your confusion appears to be the distinction between a n income tax threshold and an income tax band.

In summary, the threshold is the level over which income tax becomes payable at the relevant rate. The band is the range of income subject to the relevant rate.

The thresholds and bands for England in the current tax year are:

Income tax threshold: £0
Personal allowance: £11,500 taxed at 0%
(unless net income exceeds £100,000 per annum)
Basic rate threshold: £11,500
Basic rate band: £33,500 taxed at 20%
(i.e. applies to incomes from £11,500.01 to £45,000)
Higher rate threshold: £45,000
Higher rate band: £105,000 taxed at 40%
(i.e. applies to incomes from £45,000.01 to £150,000)
Additional rate threshold: £150,000
Higher rate band: £150,000.01 and above taxed at 45%
(i.e. applies to incomes from £150,000.01 without any upper limit)

NB I have deliberately omitted income from savings interest and dividends, which are subject to different allowances, tax credits and rates.

By way of example, suppose a taxpayer domiciled in England during the entire 16/17 tax year has a net annual income of £50,000. We will assume that this is his salary from employment, he has no deductible expenses and no other income.

This net income of £50,000 would be subject to income tax as follows.

Income tax threshold: £0
Personal alllowance: £11,500 taxed at 0% = £0
Basic rate threshold: £11,500
Basic rate band: £33,500 taxed at 20% = £6,700
Higher rate threshold: £45,000
Higher rate band: £5,000 taxed at 40% = £2,000

Overall effective income tax rate: 17.4%
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Old 21st April 2017, 12:08   #432
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Let us take the same taxpayer, but with a salary of £150,000 per annum.

This net income of £150,000 would be subject to income tax as follows.

Income tax threshold: £0
Personal alllowance: £0 taxed at 0% = £0
Basic rate threshold: £0
Basic rate band: £45,000 taxed at 20% = £9,000
Higher rate threshold: £45,000
Higher rate band: £105,000 taxed at 40% = £42,000

Overall effective income tax rate: 34%
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Old 21st April 2017, 12:20   #433
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You mean that there is a possibility that some parts of the NHS might be contracted out but still provided as a public service?
If that doesn't worry you then you may want to look at what is currently happening in parts of Bath, Somerset, Wiltshire and the surrounding area regarding care that has been taken over by Virgin Care. Not good at all.
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Old 21st April 2017, 12:35   #434
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If that doesn't worry you then you may want to look at what is currently happening in parts of Bath, Somerset, Wiltshire and the surrounding area regarding care that has been taken over by Virgin Care. Not good at all.
And if we do a trade deal with Trump:

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The worst thing you can possibly do in a deal is seem desperate to make it. That makes the other guy smell blood, and then you’re dead.
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Old 21st April 2017, 12:43   #435
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If that doesn't worry you then you may want to look at what is currently happening in parts of Bath, Somerset, Wiltshire and the surrounding area regarding care that has been taken over by Virgin Care. Not good at all.
Well they've got a solution to understaffing - ensure some virgins lose their virginity and they've reduced their number of prospective patients.
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