Taxi Driver Online

One-person firms face tax shock

TENS of thousands of self-employed people face soaring tax bills in 2004 after a U-turn by Gordon Brown.

The Chancellor is to close a loophole that he created in which people who work for themselves were offered lavish incentives to turn themselves into one-person limited companies.

Taxi drivers, agency doctors and driving instructors were among those who rushed to incorporate after the 2002 Budget, which abolished Corporation Tax on the first £10,000 of a firm's profits.

Those earning £30,000 could cut their tax bills from more than £8,000 to less than £4,000. But there is evidence that the tax break encourages business people to turn themselves into companies to save tax.

Brown said: 'We will bring forward proposals for action in Budget 2004 to ensure the right amount of tax is paid by owner-managers.'

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They said it would end, and it appears they (whoever they are) are right.

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IDFIMH

Did anyone really expect it to stay?

Alex

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ʎɐqǝ uo pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐן ǝɥʇ sı sıɥʇ

Simply the best taxi forum in the whole wide world. www.taxi-driver.co.uk

yes it seems we did, like anything else we get strangled by loopholes used by the greedy few.

this was a chance to develop a meaningful buisness

Who'd fancy John Prescott for PM instead of Gordon Brown?

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There is Significant Unmet Demand for my Opinion.

Michael Howard Leader of the opposition.

Hmmmmmmmmmmmmmmmmm.

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There is Significant Unmet Demand for my Opinion.

Now if you want to get deeply into politics, then I would say if Gordon Brown does become PM, then he will be the very last non English PM of the UK.

Times are a changing.

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IDFIMH

Er.......

Why?

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There is Significant Unmet Demand for my Opinion.

sussexman wrote: Now if you want to get deeply into politics, then I would say if Gordon Brown does become PM, then he will be the very last non English PM of the UK.
would that make tony blair the second last then S.M(check place of birth)http://www.number-10.gov.uk/output/page4.asp

Because it is finally dawning on people down here, that people up there control most of what happens up there.

Whilst down here, some have to rely on those up there, to control what happens down here.

In time more and more down here, will be saying "hang on a bit, if we have no say on what happens up there, then what right have those up there to decide on what happens down here?".

A massive issue has been the tuition fees.

Up there the MPs have said, "but some of us up here go to Uni down there, so we should have a say".

But what about those down here that go to Uni up there, where is our say?

You heard it all here first, it will end in tears.

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IDFIMH

Thanks for clearing that up Sussex.

Alex

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ʎɐqǝ uo pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐן ǝɥʇ sı sıɥʇ

Simply the best taxi forum in the whole wide world. www.taxi-driver.co.uk

Yes, the problem is that the London Parliament is effectively acting as both the UK parliament (in matters that effect the whole UK like defence) and a de facto English Parliament (in matters affecting England), so London MPs are effectively like UK Parliament members and Scottish Parliament members rolled into one as far as legislation for England is concerned.

To have proper devolution you must have devolved structures where each region has exactly the same powers so that the federal legislature will reserve exactly the same powers in relation to each region.

So we would have:

- A UK Parliament

- An English Parliament
- A Welsh Parliament
- A Scottish Parliament

The problem is that Westminster MPs are at the moment acting as the first two, hence the West Lothian question.

Dusty

Which as far as I'm aware, hasn't been addressed?

Alex

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ʎɐqǝ uo pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐן ǝɥʇ sı sıɥʇ

Simply the best taxi forum in the whole wide world. www.taxi-driver.co.uk

you dont even begin to understand the west lothian question.
in case youve missed it binnie there are proposals for the regions
and the scots and welsh are merely regions, even if the later is smaller than greater manchester.

give wesh equal status to Scotland? jesus just read the post from Wrexham
sums it up nicely.

Bit of Racism for your rich Scottish cousins.


Have a nice day Uncle Suss