Izzy Posted 14 October 2022 Share Posted 14 October 2022 1 minute ago, FoyleFox said: Currently, you pay 19% CT on profit, which is increasing to 25% from next April - as I understand from what I've read. Yeah, that's how I read it I think. So a 6% increase - nice Just seen this on the BBC website. Clear as mud... Liz Truss has said she will now go ahead with an increase to corporation tax that she had previously rejected. In March 2021 former chancellor Rishi Sunak said corporation tax would rise from 19% to 25% in April 2023. He said companies should pay more because they'd received so much support during the Covid pandemic In July 2022, during the Tory leadership campaign, Ms Truss said she would reverse Mr Sunak's decision and keep corporation tax at 19%, to attract investment into the UK On 23 September, Ms Truss's then chancellor, Kwasi Kwarteng, announced corporation tax would indeed stay at 19% On 14 October, Liz Truss said corporation tax would go up to 25% after all and sacked her chancellor. Link to comment Share on other sites More sharing options...
urban.spaceman Posted 14 October 2022 Share Posted 14 October 2022 5 minutes ago, Fazzer 7 said: No, but I am finding these shenanigans rather funny. I’ve long resigned myself to the next government being labour 😭😭 Millions of peoples lives will improve dramatically, you'll love it. 4 Link to comment Share on other sites More sharing options...
Legend_in_blue Posted 14 October 2022 Share Posted 14 October 2022 Final seconds... "Aren't you going to say sorry...?" That's a no. 1 Link to comment Share on other sites More sharing options...
st albans fox Posted 14 October 2022 Share Posted 14 October 2022 27 minutes ago, Izzy said: Up to £300k profit it's 19% tax and 30% over £300k currently I think. Not sure if the increase effects both tbh Don’t think so Anyway - you’ll have all those dollars to cover the extra 6%! 1 Link to comment Share on other sites More sharing options...
Captain... Posted 14 October 2022 Share Posted 14 October 2022 7 minutes ago, Legend_in_blue said: Final seconds... "Aren't you going to say sorry...?" That's a no. The reaction of the reporter who stands up at the end says it all. Link to comment Share on other sites More sharing options...
Facecloth Posted 14 October 2022 Share Posted 14 October 2022 3 Link to comment Share on other sites More sharing options...
Fazzer 7 Posted 14 October 2022 Share Posted 14 October 2022 20 minutes ago, urban.spaceman said: Millions of peoples lives will improve dramatically, you'll love it. It's akin to asking a supporter of our once great football club to start supporting the Forest. Even the club colours are the same. Sorry but it aint gonna happen. 1 Link to comment Share on other sites More sharing options...
Izzy Posted 14 October 2022 Share Posted 14 October 2022 Everyone took the piss out of Teresa May for being wooden, robotic, and lacking empathy, but Truss isn't fit to lace her boots. 2 Link to comment Share on other sites More sharing options...
FoyleFox Posted 14 October 2022 Share Posted 14 October 2022 29 minutes ago, Izzy said: Yeah, that's how I read it I think. So a 6% increase - nice Just seen this on the BBC website. Clear as mud... Liz Truss has said she will now go ahead with an increase to corporation tax that she had previously rejected. In March 2021 former chancellor Rishi Sunak said corporation tax would rise from 19% to 25% in April 2023. He said companies should pay more because they'd received so much support during the Covid pandemic In July 2022, during the Tory leadership campaign, Ms Truss said she would reverse Mr Sunak's decision and keep corporation tax at 19%, to attract investment into the UK On 23 September, Ms Truss's then chancellor, Kwasi Kwarteng, announced corporation tax would indeed stay at 19% On 14 October, Liz Truss said corporation tax would go up to 25% after all and sacked her chancellor. 42 minutes ago, Izzy said: Up to £300k profit it's 19% tax and 30% over £300k currently I think. Not sure if the increase effects both tbh The 2021 announcement was that Companies with over £250K profit were going to pay 25% and a Small Profits Rate would be introduced for those under that, continuing to pay at 19%. F@ck know what they are doing now. They don't know, so I sure as hell don't. 1 Link to comment Share on other sites More sharing options...
Izzy Posted 14 October 2022 Share Posted 14 October 2022 1 minute ago, FoyleFox said: The 2021 announcement was that Companies with over £250K profit were going to pay 25% and a Small Profits Rate would be introduced for those under that, continuing to pay at 19%. F@ck know what they are doing now. They don't know, so I sure as hell don't. How the fvck are businesses supposed to budget and forecast effectively when the goalposts keep changing? Accountants, tax planners, and company bean counters must be pulling their hair out. 1 Link to comment Share on other sites More sharing options...
gerblod Posted 14 October 2022 Share Posted 14 October 2022 4 hours ago, ClaphamFox said: With the Tories currently polling at 19%, I'd have to grudgingly admire her chutzpah if she did that... It would show a remarkable objectivity for one of this talentless generation of Tory wannabes - especially as she would have much to lose in terms of personal repute. Two years is a very short time to prove a wildcard policy might work. Already the damage caused by one ill-thought-through budget has threatened the economic stability of the country. There's little chance of turning the country's fortunes around in ten years - let alone two. Her legacy will be naught but laughable. Just another fill-in PM - third in the series. A party which needs a complete rebuild. Link to comment Share on other sites More sharing options...
FoyleFox Posted 14 October 2022 Share Posted 14 October 2022 (edited) 16 minutes ago, FoyleFox said: The 2021 announcement was that Companies with over £250K profit were going to pay 25% and a Small Profits Rate would be introduced for those under that, continuing to pay at 19%. F@ck know what they are doing now. They don't know, so I sure as hell don't. 13 minutes ago, Izzy said: How the fvck are businesses supposed to budget and forecast effectively when the goalposts keep changing? Accountants, tax planners, and company bean counters must be pulling their hair out. I missed out a 3rd tier - this is from the March 2021 announcement "This measure also announces that from 1 April 2023, the Corporation Tax main rate for non-ring fenced profits will be increased to 25% applying to profits over £250,000. A small profits rate (SPR) will also be introduced for companies with profits of £50,000 or less so that they will continue to pay Corporation Tax at 19%. Companies with profits between £50,000 and £250,000 will pay tax at the main rate reduced by a marginal relief providing a gradual increase in the effective Corporation Tax rate". I've just completed a host of financial planning for 2023 - no idea if it needs to go in the bin now And the increase is because of the pandemic support - which small Ltd Co's didn't get Edited 14 October 2022 by FoyleFox 1 Link to comment Share on other sites More sharing options...
Dahnsouff Posted 14 October 2022 Share Posted 14 October 2022 10 minutes ago, Izzy said: Everyone took the piss out of Teresa May for being wooden, robotic, and lacking empathy, but Truss isn't fit to lace her boots. She lost on personality, not aptitude Link to comment Share on other sites More sharing options...
st albans fox Posted 14 October 2022 Share Posted 14 October 2022 1 minute ago, Dahnsouff said: She lost on personality, not aptitude Truss loses on everything ….. 1 Link to comment Share on other sites More sharing options...
ElusiveEd Posted 14 October 2022 Share Posted 14 October 2022 1 hour ago, st albans fox said: More more Are you here all week ! The whole thing has gone down the Kwasi. Link to comment Share on other sites More sharing options...
st albans fox Posted 14 October 2022 Share Posted 14 October 2022 2 minutes ago, ElusiveEd said: The whole thing has gone down the Kwasi. At last the thread goes in a direction I can get behind ! 1 Link to comment Share on other sites More sharing options...
Dahnsouff Posted 14 October 2022 Share Posted 14 October 2022 Back to the day job I guess Link to comment Share on other sites More sharing options...
Izzy Posted 14 October 2022 Share Posted 14 October 2022 6 minutes ago, Dahnsouff said: She lost on personality, not aptitude I’ve got to be careful what I say on here about Teresa May. @Alf Bentleystill thinks I want to shag her 2 Link to comment Share on other sites More sharing options...
Dahnsouff Posted 14 October 2022 Share Posted 14 October 2022 Just now, Izzy said: I’ve got to be careful what I say on here about Teresa May. @Alf Bentleystill thinks I want to shag her My neck of the woods, I will put in a good word. 1 Link to comment Share on other sites More sharing options...
ElusiveEd Posted 14 October 2022 Share Posted 14 October 2022 3 Link to comment Share on other sites More sharing options...
weller54 Posted 14 October 2022 Share Posted 14 October 2022 32 minutes ago, st albans fox said: Truss loses on everything ….. Is that a Michael Ball song? 1 Link to comment Share on other sites More sharing options...
Popular Post Facecloth Posted 14 October 2022 Popular Post Share Posted 14 October 2022 1 hour ago, Fazzer 7 said: It's akin to asking a supporter of our once great football club to start supporting the Forest. Even the club colours are the same. Sorry but it aint gonna happen. I know your probably joking a little, but in all seriousness, the footballification of politics is all wrong or looked the wrong way. The team you are supporting isn't the Tory party its the UK and we discussing/disagreeing on who we want the manager to be, or the style of manager and tactics we want them to use. I think sometimes you might fundamentally disagree with the way a Dyche type manager sets up his team and tries to play the game, and fully support the way a Rodgers type does, but if its not working for the current situation, you sometimes gotta hold your hands up and accept its time to let Dyche have stab at it. 9 1 Link to comment Share on other sites More sharing options...
ElusiveEd Posted 14 October 2022 Share Posted 14 October 2022 4 Link to comment Share on other sites More sharing options...
Nalis Posted 14 October 2022 Share Posted 14 October 2022 Where do you even start.... Link to comment Share on other sites More sharing options...
Popular Post Facecloth Posted 14 October 2022 Popular Post Share Posted 14 October 2022 6 Link to comment Share on other sites More sharing options...
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