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Old Mar 21, 2012, 08:10 AM
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Business budget tax change

Corporation or 'business' tax just reduced in the UK - now 18% below that of the USA - good move ?
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Old Mar 21, 2012, 08:26 AM
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Corporation or 'business' tax just reduced in the UK - now 18% below that of the USA - good move ?
If you consider keeping buisnesses in the UK or attracting buisnesses to the UK a good thing ... then yes.

The idea (and many on the left would disagree) is that by lowering the tax rate, you increase the pool from which taxes are taken (increased jobs, increased transactions and increased productivity) and there fore increase the total tax revenue.
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Old Mar 21, 2012, 08:39 AM
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Probably a good move.
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Old Mar 21, 2012, 08:40 AM
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Sound move IMO.
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Old Mar 21, 2012, 09:26 AM
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Originally Posted by ENGINETORQUE View Post
Corporation or 'business' tax just reduced in the UK - now 18% below that of the USA - good move ?
That is a great move for the UK. I wish the US would follow suit. Personally I think corporate taxes should be zero.
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Old Mar 21, 2012, 09:28 AM
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Well corporate taxes are Zero here for around 15k or less USD if I heard today's budget right.

Folks earning less than 9200 or less PA (about 14 K USD approx) will pay NO tax
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Old Mar 21, 2012, 11:57 AM
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Originally Posted by ENGINETORQUE View Post
Well corporate taxes are Zero here for around 15k or less USD if I heard today's budget right.

Folks earning less than 9200 or less PA (about 14 K USD approx) will pay NO tax
hmmm... not sure I'd agree with setting aside a segment of the buisness population that pays zero taxes.

If the rule was that EVERYONE paid zero, thats one thing ...
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Old Mar 21, 2012, 12:49 PM
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Corporation or 'business' tax just reduced in the UK - now 18% below that of the USA - good move ?
Only if it were to actually result in more jobs.. but of course it's never important enough to ensure that such 'guesses' are indeed justified.

From what I've previously read, many large companies are awash with cash - but don't want to invest until someone else 'magically' fixes the economy..
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Old Mar 21, 2012, 01:02 PM
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Only if it were to actually result in more jobs.. but of course it's never important enough to ensure that such 'guesses' are indeed justified.

From what I've previously read, many large companies are awash with cash - but don't want to invest until someone else 'magically' fixes the economy..
it's about environment. You either make a pro buisness environment or an anti-buisness environment. Buisnesses awash in cash aren't going to spend that cash in a country that is anti-buisness ... they'll take it somewhere else. It's happening in the US where certain states are making changes to taxes and labor laws to bring companies into their state and it seems to be working.
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Old Mar 21, 2012, 01:09 PM
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it's about environment. You either make a pro buisness environment or an anti-buisness environment. Buisnesses awash in cash aren't going to spend that cash in a country that is anti-buisness ... they'll take it somewhere else. It's happening in the US where certain states are making changes to taxes and labor laws to bring companies into their state and it seems to be working.
Sorry, logan5 - but I've never come across a business that says the conditions are 'pro-business'! Whatever the conditions!

It's not about 'environment' - it's about attitude! And it's interesting how many businesses (and others) hate money being given to the (obviously lazy, feckless and irresponsible) poor, but are full of praise for subsidies etc being given to business, with no checks/assurance/ data that there is any payback.

Just like our politicians deciding that their perks are 'expenses', whereas everyone else gets 'benefits'!

For example, Barclay's Bank pays 1% Corporation Tax (instead of 23%). Do you think we should start paying companies even more money to make money (Hey... didn't we just do all this with the Banks... )

So it's actually about getting a return on your investment - i.e. jobs for the 'benefits'!
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Old Mar 21, 2012, 01:43 PM
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Sorry, logan5 - but I've never come across a business that says the conditions are 'pro-business'! Whatever the conditions!

It's not about 'environment' - it's about attitude! And it's interesting how many businesses (and others) hate money being given to the (obviously lazy, feckless and irresponsible) poor, but are full of praise for subsidies etc being given to business, with no checks/assurance/ data that there is any payback.

Just like our politicians deciding that their perks are 'expenses', whereas everyone else gets 'benefits'!

For example, Barclay's Bank pays 1% Corporation Tax (instead of 23%). Do you think we should start paying companies even more money to make money (Hey... didn't we just do all this with the Banks... )

So it's actually about getting a return on your investment - i.e. jobs for the 'benefits'!
I don't like business subsidies either, because it's a tool used by the Government to favor one buisness over the other, or used to prop a failed buisness. I do however, favor lowering taxes accross the board for all buisnesses.

And while you are probably right about buisness thinking every country is anti-buisness ... there are cetainly some countries that are "less" anti-buisness than others.
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Old Mar 22, 2012, 03:48 AM
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I feel 'feel' (I'm not an economist) that yesterdays budget was a good one for the UK
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Old Mar 22, 2012, 05:56 AM
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I feel 'feel' (I'm not an economist) that yesterdays budget was a good one for the UK
Hmmmm....

Tax threshold increased - but not for another year. (Feels like it's a set up to head towards election time )

Petrol up another 3p / litre - this year. (Will make petrol over 7 / gallon!)

Start to remove 50p tax rate from those earning 150,000 or over... (where's the missing money going to come from?)

Penalise pensioners on tax.

Increase stamp duty on sale of properties worth more than 2 million (how many regular such house sales does the government reckon it can predict, one wonders).

Overall...

Nope... generally just buggering around with things, but shouting out how wonderful they are, methinks!

Maybe only useful thing was reduction in Corporation tax - if Corporations don't still just sit around, 'stashing the cash' and waiting for others to fix the economy!
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Old Mar 22, 2012, 09:26 AM
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Maybe only useful thing was reduction in Corporation tax - if Corporations don't still just sit around, 'stashing the cash' and waiting for others to fix the economy!
It is their money. So they can do with it as they please. You could decide to just take it from them via tax increases, but then they'll just take their money elsewhere. Or you can lower taxes to show that you want them to start puting that money back into the system.
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Old Mar 22, 2012, 11:38 AM
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I thought it was an imaginative and productive budget (for a change) and remember - you can't please ALL the people ALL the time!
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