New Tax Year

The new tax year starts today and all income tax payers across Bury North will benefit from the increase in the personal allowance. A basic rate taxpayer will now be paying £900 less in income tax than they were in 2010.

Anyone who reaches the state retirement age from today becomes entitled to the new single tier pension.

From today, the jobs tax on young apprentices – ie: employer’s national insurance contributions will be abolished.

Published by David Nuttall

Business and Political Consultant

3 thoughts on “New Tax Year

  1. Strewth haven’t you two chaps realised that them at the bottom with nowt (money) get supported and them at the very top hide it. WE (including Mr C) in the middle carry both ends. Live with it.

  2. Hi David

    Firstly may I commend you for raising the topical issue of tax today, hopefully the changes to the personal allowance will provide some comfort to workers struggling with their own monthly budget. I note that you claim that this will affect tax-payers across Bury North, suggesting income is not a determining factor for this new policy – supporting your parties sound bite that ‘We’re all in it together’.

    It is with that message in mind that I wanted to ask for your thoughts on tax avoidance, and does this weeks leaks of the Panama Papers not suggest that some of the wealthiest people in our country enjoy a more preferential rate than others by moving money to offshore accounts? Given some of the names mentioned in the leaks do you feel it would be appropriate for any MP’s mentioned either directly or through family links to now be subject to an independent investigation in to their tax affairs? If you don’t agree with this, how would you describe the PM’s current credibility, given he has repeatedly told the electorate that, We’re all in it together’, and would you advise he should consider his position if unwillingly to be subject of an independent investigation?

    In the alternative, and supposing that you might consider tax avoidance rather than evasion acceptable, could you please in the spirit of ‘togetherness’ ask your colleagues for some advice to pass on to your constitutes on how too we can enjoy preferential tax rates such as the 3% google pay, or rates between 5% – 8% in offshore accounts, as enjoyed by the families of cabinet ministers?

    Kind Regards

    1. Tax evasion is illegal and tax avoidance is legal. This has long been the established law in this country. Whenever one jurisdiction has lower taxes than another there will always be the likelihood that people will seek to make use of it. Provided they do so within the law, no one has ever suggested anyway to me that it could be stopped.

      13 years of Labour government clearly never found a way and I am sure like all Chancellors Mr Brown was keen to maximise income.

      Anyway, one thing is for sure my name won’t be cropping up in any of these papers!

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