The budget now rubbish it is

[Noras]

my post should read how rubbish is this budget!

So I will only get a state pension and income from an investment property for my retirement ( monies from an inheritance ) as I have looked after my disabled son. So the Gov have gone against me as ever.

But have they gone against the extremely wealthy or huge corporates that exercise price transfer re tax tax or use franchises/ loan agreements etc to legally avoid tax?

Nope.

I actually loathe this government now. They always shield the wealthy and go for the middle classes. Those with a bit of bank interest or a single asset let’s tax that more - easy pickings.

I’ve got an adult disabled daughter and have only ever been able bit have a couple of low paid jobs. I now have my state pension plus another £200 from a small private pension so you’re a damn site better off than I am ! Investment property I wish !

1. All of that is your choice
2. You're not in poverty
3. As someone fairly comfortable what free stuff do you want?

I just can’t get over how much they are increasing rhe benefits bill , it’s utter madness, and increasing min wage again will limit the amount of jobs available.

its utterly crazy

Because as well as the tax increase last budget about to kick in, they have raised tax from rental income yet again.

Count yourself lucky you have an investment company. Many people (myself included) will only receive the state pension.

That’s not the issue. It’s the issue of how the Gov go against sitting targets as ever .

But yes I have contributed to the economy but then my son was born - I was late 30s when he was born.

I do but it does not detract from the fact that the Gov never goes against the obvious and the question is why.

They have a target and it’s never the uber wealthy it’s just the middle classes.

They were elected on the basis they wouldn't raise income tax for "working people" hence the only tax they can raise as far as income tax goes is income from investments including rental income.

You've got income from an investment property FFS. A lot more than most people have 🙄

@AudHvamm off to check it out on YouTube.....😁😁

How have they gone after you?

Have to love a thread when someone complains about the state of the nation and then when people point out things like a second home and having a partner to contribute to bills... all of that stuff is magically irrelevant! We get that you wanted some kind of tax break/free stuff. But maybe it's better that financial support goes to people on their actual knees?

I totally agree @Noras

I put money away for my retirement to try to do the right thing. I also do loads of extra shifts, to help out, but will be stopping that now

it was never my choice to have a disabled son and the impact that has which limits the ability to pay into a pension.

Bit that’s not the point - they are going for the usual targets as ever

As an example landlords with multiple properties will hold them in a company paying lower tax etc

How have they gone after you exactly - in what way are you worse off after this budget?

State pension is going up next year, and despite pressure they also haven’t cut benefits so your son won’t receive less either.

But But But. The op "only " has an investment property. Have a heart

Drip feeding is not abundantly helpful.

Don't be a landlord then!

That’s called fighting amongst our selves whilst the extremely wealthy have a huge laugh at our expense.

You're right - dire straits..!

The older I get the more I think it should be compulsory to volunteer in the community - with a food bank for example.

But there's a disabled son now that wasn't mentioned earlier to make me the bad guy...

I work with the most deprived people in society and they definitely don't fight among themselves - they live hand to mouth and share even when they have nothing. They don't have housing or food security.

I have nothing against landlords. But, I have lot against whinging like that.
You are a business, providing service. Of course there will be numerous running costs. Licensing, h&s, repairs etc. Like with any kind of business. Your income is also your growth in equity, not just your monthly profit.

I'd be happy to own "only" one home. Owning two of them is beyond even my wildest dreams.

YABVU and tone deaf.

It was a sad budget.

Well a bit less income following the budget as they are raising the tax on rental income from what I can tell.

TBH I think it has been obvious for probably at least 5 years that the winds of change are blowing against the private landlord. Increased taxes. Huge increases in regulation and significant benefits given to tenants.

I was never a fan of BTL, but for me the smart money was really out by the time IRs started to rise (after covid) and HPI could no longer be banked on.

Everyone who was in the sector after that was IMO HODL'ing and therefore a cash cow with a big target painted on its side for the government.

have they gone against the extremely wealthy or huge corporates that exercise price transfer re tax tax or use franchises/ loan agreements etc to legally avoid tax?

You can't really do this any more. Transfer pricing is governed by internationally agreed rules (OECD guidelines) and this area is heavily audited by tax authorities.

Most countries limit deductibility of unecessary loans etc.

Times have changed. Truly. Most tax avoidance isnt large corporates. Its small businesses. The cleaners paid in cash, the builder not declaring some invoices to dodge the VAT threshold, the small limited company booking every expense under the sun.