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Hi everyone, it's that time again.

I’ve created this post for you all to share and comment your reactions, thoughts and opinions throughout the speech. 

It will be interesting to see what Jeremy Hunt has to say and what you guys think about it. 
 

Replies (90)

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By Duggimon
06th Mar 2024 12:39

What is wrong with these absolute children shouting over everything. You wouldn't get away with that in school, these people are meant to be running a country.

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By DJKL
06th Mar 2024 12:45

The DS does sound like a teacher.

Sounds certainly like an election budget, trash them all, Labour, Lib Dems (wonder when he will diss the Nats)

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By DKB-Sheffield
06th Mar 2024 12:45

Duggimon wrote:

What is wrong with these absolute children shouting over everything. You wouldn't get away with that in school, these people are meant to be running a country.

The right to be heard? The right to free speech? Or just the right to act in a moronic manner?!

It sounds like the crowd at a Taylor Swift concert, with all Swifties wearing suits!

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By Justin Bryant
06th Mar 2024 12:43

I predict with 100% confidence yet another fuel duty freeze. Why bother with the planned increase each year in the 1st place you may wonder? No, me neither.

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By Mr_awol
06th Mar 2024 12:43

There's always a bit (ok a lot) of barracking but seems worse than usual. Is that driven by:
a) worse behaviour from the opposition
b) lack of control by the deputy speaker
c) Hunt simply coming out with such outrageous comments that it's hard to keep a lid on any guffawing.
You decide ;)

Get on with it. NIC (just E'ees or C4 too?), HICBC and Non-Dom status is what i want to hear about.

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By DJKL
06th Mar 2024 12:49

Is this a real Budget or mere attacks on the other side with lots of time to indulge oneself?

JH, stop saying what the other side did/said, tell us what you lot really have done/will do. (Last chance saloon here)

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By Duggimon
06th Mar 2024 12:51

I think he already did most of that with all the made up bits at the start, apparently we're the strongest economy in Europe and they've fixed inflation.

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By DJKL
06th Mar 2024 12:55

I did not listen to Pinocchio re that, one cannot apparently say in the house that someone lies, but......

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By DJKL
06th Mar 2024 12:53

Moved the vat cliff rather than curing its effect.

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By Mr_awol
06th Mar 2024 12:54

Nominal increase in VAT threshold - to "bring tens of thousands of businesses out of VAT".

No it wont. If a business is that marginal, on a rolling twelve month basis, this isnt aiding growth surely? Not noticeably anyway.

Surely the answer would have been either increase it dramatically, or reduce it significantly to remove the current 'cliff edge'.

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By DJKL
06th Mar 2024 12:57

Governments do not build houses, the private sector does.

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By Mr_awol
06th Mar 2024 13:04

OK so which one of them has a mate in the special f/x game.....................?

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By WinterDragon
06th Mar 2024 13:06

I just need JH to refer to the member for Islington north and I'll have got a bingo

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By DJKL
06th Mar 2024 13:12

I should have set up a drinking game, a shot every time he mentions what opposition does not have a policy about.

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By WinterDragon
06th Mar 2024 13:17

Good thing he just announced some more money to the NHS, sounds like they'll need it to stand any chance of resuscitation when you reach A&E

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By Mr_awol
06th Mar 2024 13:11

Recycling the " i thought they were supposed to be interested in........." comment. Clearly a pre-rehearsed line, as much as he'd like it to look off the cuff.

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By Hometing
06th Mar 2024 13:13

Smoke and mirrors, as ever. Spend more time blindly praising themselves and slating the opposition than laying out decent plans.

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By AdamJones82
06th Mar 2024 13:14

I almost feel like I'm watching a clip from The New Statesman (showing my age)

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By DJKL
06th Mar 2024 13:17

DS ought to send some of them to the corner with a conical hat with a D on it. (Probably not allowed to humiliate the little darlings these days, but she ought- what an fing shower)

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By DJKL
06th Mar 2024 13:19

That NHS soundbite was derivative of a JFK moment (ask not what your country....)

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By DJKL
06th Mar 2024 13:19

Laura Order vote appeal.

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By DJKL
06th Mar 2024 13:25

Molesworth, I can hear you Molesworth, see me later Molesworth.

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stonks
By WinterDragon
06th Mar 2024 13:26

A good article that provides context on Angela Rayner's multiple dwellings. From our favourite Dan Neidle

https://taxpolicy.org.uk/2024/02/29/rayner/

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By Mr_awol
06th Mar 2024 13:26

Lower CGT will increase sales of properties?

Not convinced TBH

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By DJKL
06th Mar 2024 13:28

Well, all these in FHLs may give up the ghost and sell.

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By Mr_awol
06th Mar 2024 13:30

True - but surely they might/would have anyway.

So more a case of higher demand for sales anyway, not the rate leading it.

Having said that, at least it is (potentially) a reduced kick in the [***] on the way out for those 'forced' to sell.

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By DJKL
06th Mar 2024 13:33

Depends on their gearing, different interest treatment of course.

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By Mr_awol
06th Mar 2024 13:57

Exactly.

I dont think anyone is going to be saying 'oh look the rate has gone down 4% i will sell my FHL/BTL/etc portfolio'.

But i do think lots of people will be thinking 'best flog the FHL as it no longer pays its way'.

I suppose by saying up front he expects the rate cut to drive demand, if (when) demand is created by the difference in FHL treatment he can pretend it is a result of the rate cut 'as predicted in the budget'.

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By David Ex
06th Mar 2024 13:28

Furnished Holiday Lettings regime abolished. So how’s it going to be taxed? As per residential letting?

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By Mr_awol
06th Mar 2024 13:32

Assume so - that's what it is in many cases.

genuine BnB shouldn't be affected though, one would assume

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By DJKL
06th Mar 2024 13:33

The new tax debate, define "Genuine"

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By Mr_awol
06th Mar 2024 13:40

One would assume anything where you rent out a completely separate self-contained dwelling is out for starters - and that effectively big houses where you let out rooms (i.e. a traditional 'proper' BnB) will be in.

Yes there will be some grey areas though - pods in the garden for example.

Holiday cottages in seaside towns should always have been treated as normal rental TBH

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By AdamJones82
06th Mar 2024 13:34

Yes assume no Business Asset Disposal relief and no 40% tax relief on mortgage interest

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By Postingcomments
06th Mar 2024 13:30

It occurs to me that the Chancellor would suffer fewer interruptions if he stuck to stating his policies and left out taking cheap swipes at individual members of the opposition.

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By JB101
06th Mar 2024 16:28

Maybe - but those were the only entertaining things he said!

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By Justin Bryant
06th Mar 2024 13:31

SDLT MDR abolished. Not surprised.

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By Postingcomments
06th Mar 2024 13:34

People will have to buy 6 properties at once instead!

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By Justin Bryant
06th Mar 2024 13:41

Yes; or buy their dwelling with a chip shop etc. thrown in.

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By DJKL
06th Mar 2024 13:32

Non Doms. Place your bets ladies and gentlemen as to how many years you will need to depart for after the 4 years to reset the ND/Resi clock?

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By Mr_awol
06th Mar 2024 13:34

HICBC - joint household much fairer.

£60k threshold slightly disappointing, but larger taper band offsets this.

But depending on threshold on the new system, may drag some people back in?

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By AdamJones82
06th Mar 2024 13:35

"Want a simpler tax system"

Stop MTD then

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By Hometing
06th Mar 2024 13:35

Do they really think a 2% NIC cut is going to persuade people back into work?

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By DJKL
06th Mar 2024 13:37

No- but its purpose is to win votes not get unemployed working (are unemployed natural Tories?)

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By DJKL
06th Mar 2024 13:36

Perkins- your coat is on a shoogly peg.

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By AdamJones82
06th Mar 2024 13:36

Nothing for the incorporated self-employed again as usual

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By Mr_awol
06th Mar 2024 13:59

Ummmm.........

Good(?)

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By AdamJones82
06th Mar 2024 14:04

Didn't think of it that way! With the past history I should have expected 2% cut for sole trader NI and 2% increase in dividend tax!

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By Mr_awol
06th Mar 2024 14:57

2% increase in dividend tax would have been wrong.

1.25% would have been much better. I do like round numbers, so boosting the lower and higher rates of dividend tax would've got my vote. Not sure what to do about the additional rate though. Bring it down a bit/do away with it probably.

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DougScott
By Dougscott
06th Mar 2024 15:35

AdamJones82 wrote:

Nothing for the incorporated self-employed again as usual

What is "incorporated self-employed"? - no such thing!

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By DKB-Sheffield
06th Mar 2024 16:59

Dougscott wrote:

What is "incorporated self-employed"? - no such thing!

Well, it's either...

The (truly) self employed client who insists on telling you how well hos 'company' is doing...

Or...

The client who asks you to file her self employment on an SA tax return, provides paperwork, NINO, UTR etc... and when you finally get all the info, and are unable to request HMRC authorisation using the supplied UTR... she helpfully mentions that she trades through a company!

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