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Archive for the ‘Tax’ Category

Higher Road Taxes for Gas Guzzlers

Monday, March 26th, 2007

Petrol StationGordon Brown is going green and has decided to increase car tax on vehicles that are uneconomical in Britain today. I personally think this is a great idea but then I would – I drive a Peugeot 106. I know a lot of people who are less than happy about the new changes but then many don’t actually care because the taxes only apply to cars registered after March 1st 2001 – I personally think it should apply to all cars.

Most affected will be owner’s of 4x4s and sports cars; the biggest gas guzzlers of them all. All the new tax bands can be found at the Times Online.

Budget 2007

Thursday, March 22nd, 2007

In his eleventh Budget, Chancellor Gordon Brown has rejected Conservatives’ claims that his Budget tax changes were a “con trick”. The basic rate of income tax will fall from 22p to 20p (its lowest for 75 years) from April next year, but the lower starter rate of 10p will also go – which means those who pay income tax will start at 20p in the pound instead of 10p. From 2009, the cut-off point for NI will rise from £34,840 (this year) to £43,000, with 1% NI for earnings above that level continuing, and the top-rate income tax threshold will rise to £43,000.

Beer will increase by 1p a pint, wine by 5p a bottle and cigarettes by 11p a packet. However, some good news for those of you trying to quit smoking – nicotine patches and gums will have their VAT cut to 5% from 17.5% for one year. Other positive changes include a reduction in corporation tax from 30p to 28p in the pound (from April 2008) and the income tax free allowance for pensioners under 75 will rise from £7,280 to £9,770 in 2010.

So what does this mean to you? Mr Brown claims the average family will be £5 a week better off thanks to the income tax changes. However Shadow Chancellor George Osborne challenged Mr Brown to admit that 3.5 million families will be worse off. Let me know your thoughts …

Are Council Staff the Reason for Tax Increases?

Thursday, March 8th, 2007

This year council tax is set to rise by another 4%, double the current inflation rate, is something going on that we don’t know about? Well apparently yes there is. According to an article on the BBC News website, the increases in our council tax has been used to fund greedy council officials who aren’t happy with there £100,000 a year salaries – they want more.

Last year approximately 600 officials received a salary of over £100,000, ten of which earned more than Tony Blair – the highest being £227,424. It is an absolute disgrace that we have to dig deeper into our pockets so they can buy another holiday home, where’s Robin Hood when we need him?

More information about this story at BBC News.