2015 Budget Thread

[Si1]

I have open /moved banks a few times recently all of them required proof of my national insurance number

Ah

basic accounts without od I would have thought they didn't even need that, but despite that they still gather a lot out data

Edited March 19, 2015 by Si1

[FreeTrader]

As far as I can make out from the background budget docs, savings accounts are going to be automatically linked to an individual's digital tax account (and in due course it won't be possible to have a UK savings account without linkage to a tax account).

Banks will no longer deduct tax on savings at source. Instead the savings income will be reported to the tax account, and if a liability arises then an automatic coding notification will be made for employees who are taxed under PAYE. Non-PAYE individuals will simply settle any liability themselves (e.g. via a direct debit instruction).

I'm surprised there's been so little concern expressed over the 'Big Brother' aspect of these new tax accounts (although given the technology available they seem to be an inevitability, as do digital currencies).

Here's the promotional literature from HMRC:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/413975/making-tax-easier.pdf

[rollover]

Lib Dems unveil rival 'Yellow Budget' calling for fewer cuts but just 17 of Clegg's MPs bother to turn up

Lib Dem attempts to distance themselves from deep Tory cuts descended into farce today when two thirds of Nick Clegg's MPs stayed away from the Commons debate on their rival Yellow Budget.

Cutting £50billion less than the Conservatives and borrowing £70billion less than Labour

Securing a surplus of £7.7billion by 2017-18

[shindigger]

As far as I can make out from the background budget docs, savings accounts are going to be automatically linked to an individual's digital tax account (and in due course it won't be possible to have a UK savings account without linkage to a tax account).

Banks will no longer deduct tax on savings at source. Instead the savings income will be reported to the tax account, and if a liability arises then an automatic coding notification will be made for employees who are taxed under PAYE. Non-PAYE individuals will simply settle any liability themselves (e.g. via a direct debit instruction).

I'm surprised there's been so little concern expressed over the 'Big Brother' aspect of these new tax accounts (although given the technology available they seem to be an inevitability, as do digital currencies).

Here's the promotional literature from HMRC:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/413975/making-tax-easier.pdf

Ah yes Gauke, the bloke that wants you to rat on your plumber, while we pay his ******ing mortgage.

I've been S/E for 19 years. Last year i earnt not a cent thru S/E due to end of contract and family issues.

I will be ending my S/E status end of this tax year.

Id like some beno and a new boiler now please.

Stick it up your **** Osborne.

[long time lurking]

Ah

basic accounts without od I would have thought they didn't even need that, but despite that they still gather a lot out data

This was current accounts/ savings and isa (all the ISA accounts i have had required NI No) the only one that did not ask was a foreign currency account opened last year

Was never asked before for NI other than ISA accounts for obvious reasons

[shindigger]

Did anyone else notice the faux outrage in Parliament, at metal being nicked from the church roof?

Apparently they're on to that too, with a ban on scrap metal sales for cash.

Rest easy Verger.....unless you're banging out Sovs on Ebay of course

Edited March 19, 2015 by shindigger

[Bruce Banner]

As far as I can make out from the background budget docs, savings accounts are going to be automatically linked to an individual's digital tax account (and in due course it won't be possible to have a UK savings account without linkage to a tax account).

Banks will no longer deduct tax on savings at source. Instead the savings income will be reported to the tax account, and if a liability arises then an automatic coding notification will be made for employees who are taxed under PAYE. Non-PAYE individuals will simply settle any liability themselves (e.g. via a direct debit instruction).

I'm surprised there's been so little concern expressed over the 'Big Brother' aspect of these new tax accounts (although given the technology available they seem to be an inevitability, as do digital currencies).

Here's the promotional literature from HMRC:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/413975/making-tax-easier.pdf

Apart from the 'Big Brother' aspect, it's going to be tricky to keep tabs on what tax you've paid without the annual reconciliation that is the tax return.

[MrXxx]

Guess they're all too busy getting their UKIP applications in then?!

[long time lurking]

As far as I can make out from the background budget docs, savings accounts are going to be automatically linked to an individual's digital tax account (and in due course it won't be possible to have a UK savings account without linkage to a tax account).

Banks will no longer deduct tax on savings at source. Instead the savings income will be reported to the tax account, and if a liability arises then an automatic coding notification will be made for employees who are taxed under PAYE. Non-PAYE individuals will simply settle any liability themselves (e.g. via a direct debit instruction).

I'm surprised there's been so little concern expressed over the 'Big Brother' aspect of these new tax accounts (although given the technology available they seem to be an inevitability, as do digital currencies).

Here's the promotional literature from HMRC:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/413975/making-tax-easier.pdf

This explains why they wanted my NI number then thought there was something in the pipeline

[long time lurking]

Did anyone else notice the faux outrage in Parliament, at metal being nicked from the church roof?

Apparently they're on to that too, with a ban on scrap metal sales for cash.

Rest easy Verger.....unless you're banging out Sovs on Ebay of course

This has been in place for a good while now, it`s check or bank transfer now and the seller must have ID,the dealer must keep each purchase separate for a set time with a record of the sellers ID as for venger where`s he/she gone same for blo

[sPinwheel]

This has been in place for a good while now, it`s check or bank transfer now and the seller must have ID,the dealer must keep each purchase separate for a set time with a record of the sellers ID as for venger where`s he/she gone same for blo

Cash in hand. Sorted.

[durhamborn]

As far as I can make out from the background budget docs, savings accounts are going to be automatically linked to an individual's digital tax account (and in due course it won't be possible to have a UK savings account without linkage to a tax account).

Banks will no longer deduct tax on savings at source. Instead the savings income will be reported to the tax account, and if a liability arises then an automatic coding notification will be made for employees who are taxed under PAYE. Non-PAYE individuals will simply settle any liability themselves (e.g. via a direct debit instruction).

I'm surprised there's been so little concern expressed over the 'Big Brother' aspect of these new tax accounts (although given the technology available they seem to be an inevitability, as do digital currencies).

Here's the promotional literature from HMRC:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/413975/making-tax-easier.pdf

These are the same people who promised Universal Credit would be working three years ago.

This will be certain to be a complete mess.Most people i know would never enter any details into some government tax account.They would/will simply ignore it.Linking all bank accounts etc into one place is also a massive big brother style scenario.

[long time lurking]

Cash in hand. Sorted.

Now illegal with very large fines ,no record means a day in court for possession of stolen goods if the goods bought are stolen ,no excuses