How does the budget affect you

Lone parent with a soul destroying corporate job with a total take home of about 100k. I’ll lose out through - salary sacrifice pension as I currently put 19% of earnings into pension, ISA cash allowance and EV mileage. I’ll be reducing my hours if possible to keep below 100k and losing my personal allowance.

OP make perfect sense to me too!

Doesn't really affect me either - even having a motability vehicle in the house as my ds is a wheelchair user it’s a Skoda 🤣

@ThePolarEspressoi appreciate your comment but alas now at 41 i feel that ship has sailed - will always have some sadness about that, meanwhile those with 6 kids and no jobs are seeing their benefits increase 😡

They lied, in the manifesto, they delivered the opposite.

I don't think many realised this would happen. Some saw it coming and we warned people.

My adult child voted for them also and pays more attention to my advice now, where as they often dismissed me previously, a hard lesson, none of us wanted learned.

A few different ways ..

im a TA , so in theory will benefit from the NMW increase, but in reality what that will look like in school is the next time a member of staff leaves , they won’t be replaced to pay for the rest of the wages .

while I don’t think it affects my husband this year, the freeze on the higher tax rates may well affect my husband next year (as he will probably have enough overtime to nudge into the next bracket) and the same with his pension.

This is correct. NI will be charged on the sacrificed pay above £2000pa.

The salary sacrifice would impact me massively, but it’s not coming in until 2029. The OBR have stated they cannot predict how behaviour will change by then as a result, and firms may find a work around, such as ‘actually’ reducing wages in exchange for employer contributions, so I’m not worrying about that now. I will certainly up my contributions over the next 3.5yrs and will probably pay my bonuses into my pension for the next 3yrs which I don’t currently do. Just to max it out whilst it’s still in its current format.

The 2% savings and dividend tax impacts me, as well as the reduction in cash ISA allowance. I’ll max out next years £20k, then will probably pay some lump sums off the mortgage rather than sit on cash. The tax thresholds are annoying but they’ve not risen since 2021 so I’ve forgotten what they feel like. I’m well through the 45% threshold so the impact is minimal really.

Our house isn’t worth anyway near £2m and we don’t have electric cars so no change there. It’s ironic really that I’m a high earner, but other than the salary sacrifice which is years away, it’s not actually had much of an impact. We do have 2 DC in private school though so we had our ‘hit’ on the VAT on those.

The OP doesn’t say that at all!

Negatively on all fronts.
I will never vote Labour again and pray to God that by 2029 someone else gets in and scraps the lot!

Doesn’t really affect us. Both middle earners, no benefits so don’t gain from that but meh- at least we won’t pay more than the 40% tax we already do. Property definitely unaffected by the ‘mansion tax’. Drive an EV, no idea why they’re charging more for an EV per mile than a hybrid, that was the only confusing thing but can’t get het up about it.

Dying to know when the free breakfast clubs will hit, we pay £7 per day for that currently.

It’s on the bbc website in the budget summary

My hidden posts were a link to the Tax Policy Associates article on the proposal which explains it very well, if you are interested, and includes a calculator.

Is this speculation or from a gov source?

https://www.thetimes.com/business/companies-markets/article/mishcon-de-reya-james-libson-rachel-reeves-3m73xtpgl

I've tried to share an article explaining it but my posts have been hidden for some reason. This one is less clear but maybe MN will let it appear. In short, it's been widely reported that one option on the table was to charge LLPs the equivalent of employers NICs on the drawings of their (self-employed) partners. This would mean additional costs per partner of tens of thousands to hundreds of thousands of pounds for many.

https://www.lawgazette.co.uk/news/budget-25-chancery-lane-welcomes-llp-tax-reprieve/5125239.article

I'll get the child element for my 4th child now (my oldest is no longer a child)

How do we know they will be re-valuing F and up? Is that in any official releases anywhere?

Properties in F G and H will be revalued to see whether they fall into the mansion tax category. In the meantime that data will then affect their council tax band.

I suspect you are joking. Sadly many will resort to that. I haven't watched his whole interview, I think I will. There may be nonsense in there amongst the clips I agree with, I will go and see.

https://youtube.com/shorts/m_Q6LuCvp-o?si=x9rDCYhFafr7th2m

It's too early to say but I am already struggling to pay bills. Thames Water decided on a £200 increase this year and I just don't have that type of money. If Rachel Thieves is then taking more off me in tax... I will have even less money. And at 58, I'm too old to start having multiple children... I work two jobs in the Arts, which are not particularly well paid.

I suppose in desperation, I could go on that OnlyFannies site. Is it unethical to use other women' pics, not faces just close-ups or I was thinking of getting a Midwifery book out of the Library and photography the pics with my phone? Both ways, don't feel good.

Same. Still in the same tax bracket on a low wage, don't claim benefits, don't own a home and children are grown up.

Don’t be a dick

I quoted the wrong poster, sorry about that.

I share concerns about the next generation in the West.

Tucker Carlson said when he was interviewed by someone recently things I had thought.

He discussed assisted dying, looking at Canada (due lots of Indian expansion migration into Canada) the previous population is down now to about 65%, the older population group that build the country are 95% of those legally having their life expired and having their organs sold etc in the MAID system, then I look at our abortion rates.

Watching the way pensioners on a basic state penion are being laid into and our fertile working population are not reproducing to replacement levels, it's like a slow car crash, communism found new ways to mass slaughter.

Younger women than me without a family in their old age will regret being a wage slave and throwing away a chance at a family when they need care, it will be worse than now if things don't change in 2029.

People who want to harm the young are very cross at the older generations advising the young in helpful ways, is another trend I have noted.

My minimum wage job will pay slightly more and my youngest daughter will count on my UC claim.
Good news for me.