Off-topic replies = likely block. Ditto inane responses. @FullFact fan. Politically homeless...sort of!
South East, England
Joined January 2022
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Councils, are you reading this?
Housing Associations, are you reading this?
Housing Co-operatives, are you reading this?
Almshouse Charities, are you reading this?
Pension Funds, are you reading this?
Apparently, you're all parasites 👇
Nick JPThrough1 retweeted
An interesting story in the Times which highlights the foolishness of giving HMRC the power to take money straight out of people's bank accounts.
Tax lawyer Simon Evans only found out that he apparently owed HM Revenue & Customs money when it was extracted from his bank account.
Last month he got a letter from HMRC to say it had taken £2,300 out of his account because it claimed he had unpaid tax. “There wasn’t a dispute, we’d never heard from HMRC nor had our accountant who has handled our taxes for many years,” Evans said.
“It turns out that HMRC had sent letters to an old address in London that we haven’t lived at in years,” he said. “This is despite the fact that all of our Companies House and tax returns are up to date with our correct address and our accountant’s address."
“If we owed this money we would of course have paid it. We wanted to know if there had been an administrative oversight, but over several calls no one at HMRC could tell us what we owed, or from what period it was owed. Our accountant is still trying to get to the bottom of it."
This is what happens when you give an incompetent public sector bureaucracy the power to take money out of people's bank accounts.
A rather foolish premature claim, particularly as Burnham failed to do so on a much smaller scale in Manchester.
Nick JPThrough1 retweeted
Some things that British voters have forgotten.
🔴Making a profit is no vice.
🔴Inequality is not evil.
🔴The fact that tax cuts chiefly benefit people who pay taxes is not an argument against them.
🔴Governments spend money less well than you do.
🔴There’s no such thing as a free lunch.
Correction from a lazy landlord.
It's actually FROM the 15th December, NOT by.
This quoted post is unavailable.
Hilarious when complete strangers know more about me than me. Tenants repeatedly tell us they view our property as their home. They're also perfectly happy with the arrangement. And why a discount? We've provided their home & rental income = interest on investment elsewhere.
👇👎
Nick JPThrough1 retweeted
Labour's increase in income tax on property and savings income is a direct breach of its manifesto commitment not to raise income tax.
"Labour will not increase taxes on working people, which is why we will not increase National Insurance, the basic, higher, or additional rates of Income Tax, or VAT," was the precise wording in the manifesto, yet Labour will now increase income tax by 4% on property and savings income.
Rachel Reeves made it clear in 2024 that savers were "working people", saying "there are people who do have savings, who have been able to save up and those are working people as well."
It's a clear breach of the central promise on which they were elected.
Nick JPThrough1 retweeted
WTF? A Prime Minister who has never run a business in his life demands answers because a private business fails? … let me help you, Andy & co.
A retail chain needs to stay in fashion, needs to go with the flow! … But you and successive governments don’t like their “tat” products (mostly sourced off shore to sell them at £1!!! That the whole point right?) anyway…
for free (without a taxpayer funded £MULTIMILLION enquiry I’ll tell you the problems… (you’re welcome)
▪️massively increased regulations and compliance costs.
▪️cheap tat sourced from abroad, with rising shipping and transport costs.
▪️Hit by increased minimum wages and employer National Insurance.
▪️Hit by rising rents and business rates.
▪️Hit by soaring energy bills and net zero costs.
▪️Hit by higher interest rates.
▪️Hit by consumers with less disposable income.
▪️Hit by the soaring cost of borrowing to buy stock months in advance.
▪️Hit by higher insurance premiums.
▪️Hit by shoplifting, organised theft and security costs.
▪️Hit by packaging taxes, recycling regulations and environmental compliance costs.( which you just throw into general taxation, non of it changes the weather)
▪️Hit by higher fuel, warehousing and distribution costs.
▪️Hit by increased employment costs, pensions and statutory obligations.
▪️Hit by competition from overseas online retailers operating with very different overheads.( duty free … for foreign businesses oops)
▪️And hit by the impossibility of passing those costs onto customers, who shop at Poundland precisely because they need cheap stuff! … which isn’t cheap anymore (see above)
Every single time you add something on … so do they!
And the idiot, deluded politicians who have made Britain more and more expensive and difficult to do business in, are demanding to know why businesses are struggling?
You are all moronic. My work here is done 🤡
Nick JPThrough1 retweeted
Update:
In the 27 months since Labour came to power, we've seen;
• Employer National Insurance increased from 13.8% to 15%.
• The employer NI threshold cut from £9,100 to £5,000.
• The freeze on Income Tax and National Insurance thresholds extended to 2031.
• Capital Gains Tax increased from 10% and 20% to 18% and 24%.
• Business Asset Disposal Relief increased from 10% to 14%, then 18% – and now its lifetime limit halved to £500,000.
• Investors’ Relief raised to 18% and its lifetime limit cut from £10 million to £1 million.
• CGT relief on sales to Employee Ownership Trusts halved.
• Carried interest taxation increased and moved into the Income Tax regime.
• Dividend tax rates increased by two percentage points.
• Savings-income tax rates increased by four percentage points.
• Property-income tax rates increased by four percentage points.
• VCT income tax relief cut from 30% to 20%.
• Most unused pension funds brought into the Inheritance Tax net.
• Agricultural and Business Property Relief capped.
• Inheritance Tax thresholds frozen until 2031.
• The non-dom regime replaced with a tougher residence-based system.
• VAT imposed on private school fees.
• Business-rates relief removed from private schools.
• The Stamp Duty surcharge on second homes and buy-to-let raised from 3% to 5%.
• The Furnished Holiday Lettings regime abolished.
• A new annual surcharge on homes worth £2 million or more.
• Pension salary-sacrifice NI relief capped at £2,000 a year.
• The bank surcharge doubled.
• Capital allowances for plant and machinery cut twice.
• Online gaming duty almost doubled.
• The Energy Profits Levy increased and extended, and its investment allowance scrapped.
• Vaping Products Duty brought in and tobacco duties increased above inflation.
• Vehicle Excise Duty increased for many new cars, with electric vehicles brought in.
• A pay-per-mile tax on electric and plug-in hybrid cars legislated for 2028.
• Air Passenger Duty increased.
• Making Tax Digital extended to more landlords and self-employed people.
Together they represent one of the biggest transfers of wealth from households and businesses to the Treasury in decades – with little to show for it in public services.
Whether you're a business owner employing staff, a parent paying school fees, a farmer planning succession, an entrepreneur building wealth or simply someone trying to save for your family’s future...
- You keep less of what you earn.
- You keep less of what you invest.
- You leave less for your family.
Death by a thousand cuts.
Nick JPThrough1 retweeted
I don’t know about any other small business owner but my business plan is literally to survive a labour gov, if they get in for a second term? That’s it, we’re done, toast
Nick JPThrough1 retweeted
Il y a quelque chose d’injuste avec les chiens et les chats.
Ils arrivent dans nos vies sans faire de bruit…
puis, sans qu’on s’en rende compte, ils deviennent une partie de la maison.
Ils apprennent nos habitudes.
Ils savent quand on va mal.
Ils viennent se coucher près de nous sans poser de questions.
Ils vieillissent à côté de nous pendant qu’on continue notre vie comme si le temps allait attendre.
Et un jour, on remarque un museau qui blanchit.
Un pas un peu plus lent.
Un sommeil plus profond.
Une façon différente de monter les marches.
C’est là que ça frappe.
On les aime pendant une partie de notre vie…
mais eux nous aiment pendant presque toute la leur.
Peut-être que c’est pour ça que leur présence nous touche autant.
Ils nous rappellent quelque chose qu’on oublie trop souvent avec les humains aussi :
ce n’est pas parce que quelqu’un est encore là aujourd’hui
qu’il sera toujours là demain.
Alors si ton chien vient poser sa tête sur toi ce soir…
si ton chat décide encore de dormir exactement à la place où tu voulais t’asseoir…
laisse-le faire. ❤️
Un jour, ce seront précisément ces petites choses-là qui vont manquer.
— Jason Lapointe
Nick JPThrough1 retweeted
Nothing highlights the fiscal failure of this government more starkly than the plight of Poundland. The chain's 600 stores and 12,000 workers sit on the verge of collapse, not because its customers have walked away - Poundland's sales grew by 6.7% in September - but because of this government's unaffordable tax rises, which makes it impossible to run a business that works on slim profit margins to keep its prices down for its customers. How ironic that a government preaching about helping the least well-off is forcing a company out of business that does just that.
Labour are ripping off tenants. Nearly half their rental will go to the Government, for some it'll be nearly half.
More bad news for #uklandlords
From April 2027, rental profits in England and Northern Ireland are set to be taxed more heavily than wages, and today’s Budget widened that gap.
Last November, the government announced separate tax rates for property income, two points above the standard rates: 22%, 42% and 47%.
In today’s Budget, the Chancellor said rates on income from property and savings will rise by a further two percentage points from April 2027. Tax on employment income and dividends is unchanged.
If the rise applies across every band, as reported, landlords would pay 24%, 44% and 49% on rental profits. The exact rates will be set out in the Budget documents.
For a higher-rate taxpayer, that would mean 44p of every £1 of rental profit going in income tax.
Many UK landlords are reviewing their options, and some are looking overseas. One thing to be clear on: the UAE has no personal income tax, but UK tax residents remain liable to UK tax on overseas rental income and gains. Where you invest doesn’t by itself change what you owe HMRC. Take independent tax advice before making any decision.
Our free Abu Dhabi Investor Guide sets out the full UK tax picture: angelbrics.com/uk-investor-g…
This is general information, not tax advice.
#BuyToLet #UKLandlords #PropertyInvestment
Nick JPThrough1 retweeted
The changes to self-assessment taxation exemplify a system that's run for the convenience of the Treasury/HMRC, not the self-employed, sole traders and small businesses. That has to change.
Nick JPThrough1 retweeted
Not one person on this bench has ever had a professional job - just political grifters its that simple #neverlabour
Nick JPThrough1 retweeted
Increased tax on Rental income will hit Renters.
An extra 4% for all my tenants, means nearly half of all the rent they pay now goes to the government
Not the Landlord who paid for the house, maintains it and takes all the risk
@cristo_radio @KirstieMAllsopp @GBNEWS
So we pay an extra £500 and get £45 of it back. That's a very strange "Breathing space"!!
NEW: Standing charges on gas bills - the fixed daily levy added regardless of how much gas has been used - will be scrapped for around 23m homes, Treasury announces this morning.
John Healey will ask Ofgem to deliver removal of charges in 2027 (or asap after) with fixed costs paid on unit rate instead, which govt says could save 60% of account-holding householders average of £45 off annual bill.
Consumer champion @MartinSLewis, who has campaigned for the move, is currently in No 11 seeing the chancellor.
Nick JPThrough1 retweeted
Maybe its just me, but running a small business has never - certainly not in my lifetime - been as difficult as it is right now and I'm struggling to find reasons to carry it on.
Its certainly not for the work life balance, or for the money. Its not for an easy life, or to relieve avoid stress.
So what is it for? To keep other people employed? To keep paying ever more tax?
Its been 25 years, and I think I'm done.