UKC

So, there's online calculators to assess if you are better off under the new proposals (Guardian has one, sourced through KPMG)

My wife and me will be basically the same. We fall into the 'double income, no kids, one dog' demographic.

You? Same, better or worse?

http://www.theguardian.com/money/ng-interactive/2015/jul/08/budget-calculat...

In reply to Flinticus:

I found out I will be roughly the value of 1 ice screw better off this year. Hardy worth getting excited about!

In reply to Andy DB:
Thirteen million UK families will lose an average of £260 a year due to the freeze in working-age benefits, says the Institute for Fiscal Studies (IFS).
Tax credit changes could hit three million families, which are likely to lose an average of £1,000, it said.
Even taking into account higher wages, people receiving tax credits would be "significantly worse off," said Paul Johnson, director of the IFS.
Why do people keep believing the tories?

In reply to Flinticus:

£80 better off. Gonna give it to charity over 4 months

In reply to Flinticus:
If I'm richer by a few quid but living in a society where those poorer than myself (including some friends and family) are getting the shit kicked out of them, I'd have to be a right selfish twunt (or worse - a tory!) to regard that as being "better off".

In reply to Flinticus:

Better off because the personal allowance is going up.

Nothing else makes a jot of difference.

In reply to Al Evans:

The OP asked how it would affect me and as a single working adult with no defendants I will be slightly better off!
I am aware of the implications for others and find it deeply worrying. However answering the original question my minor increase isn't that exciting.

In reply to Flinticus:
As a 35 year old, it looks like I'll be slightly better off (than otherwise) once I find work (a family friend has offered me paid work after my current studying which is nice of him), but I feel for the families who'll be hit by the cuts.

In reply to Flinticus:

Apparently according to the Guardian's checker, we'll be £160 better off.
I doubt we'll notice it though

In reply to Flinticus:

£160 a year better off due to the tax change but also my car tax should come down when that is introduced. Nothing anyone's going to notice anyway.

In reply to Flinticus:

I should be better off to the extent that I can buy 4 new cams!

In reply to Flinticus:

As a married couple with no kids and no benefits we will apparently be £200 better off.

In reply to Flinticus:

The Guardian calculator reckons slightly better off on income tax. I think when VED changes kick in, public sector pay and a few other things, in real terms I'll be at least £1,500 worse off. At least I can afford it, unlike some those getting hit the hardest in this budget.

In reply to Flinticus:

Says we'll be better off by £146 but I can't see it as my money comes from the dividends from my limited company and small limited companies have been hammered so I think we'll lose out a bit.

In reply to Andy DB:



are you a lawyer?

In reply to Flinticus:


Couldn't get that calculator to work for some reason.

I imagine I'll be neither much better or worse off, same as usual!

In reply to Flinticus:

1K worse, basically childcare money. Also have public sectore pay rises ceiling of 1% and job cuts.

I'd cope with that without a mutter if we just had the funds to actually do our jobs. It's heartbreaking watching support for the most vulnerable dismantled. It's just sad.

In reply to Flinticus:

De camped to a tax haven. Doubled my salary. Voted Green in the last election. 1% payrise for the next 4 years. GFYS.

D

In reply to Flinticus:
As a percentage of my salary the extra I'm getting is not really significant but will be losing an extra £60ish a year to NI.

More generally really good to see the continuing fall in Corporation Tax to 18% (by 2020). The living wage is a great idea and goes some way to cutting "Corporate Welfare" i.e the Taxpayer subsidising piss poor wages through welfare.

interestingly the BBC Budget Calculator and the Telegraph one comes to wildly different figures using the same figures

In reply to Flinticus:
Did this for me and the mrs true version. 2 kids joint income 38k, £80 better off.

Same info except 70k joint income,
£141 better off

Same info except 28k joint income, 1k WORSE OFF!!!

How is this fair?

In reply to Flinticus:

£221 better off as a household. Tbh I doubt we'd notice if this was a positive or negative figure, being less than £20 a month. Feel for the families where £20 does make a difference.

In reply to Flinticus:

I've been put to the inconvenience of having to avoid slightly more tax following this budget

In reply to Trangia:


That's the spirit and I think it is kind of what they are aiming for. A littl more money in peoples pockets to spend on things to drive the economy.

In reply to Al Evans:




I believe them. They're reducing welfare as promised.

Whether that 13million require that £260 is the question you should really be asking.

I suspect I'm one of them. Labour gave me loads of credits I don't require and didn't ask for. Nice people the Labour party. Giving out tax payers money to buy votes.