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37p on Cigs!!

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yni6w2bxvg

So.... the budget has been delivered.

As a retailer I'm not sure exactly when/how and on what I put the increase of 37p.

a) Is it 6pm tonight and if so:
b) is the 37p on everything 10's and 20's?
c) I assume price marked packs remain unchanged?
d) rolling tobacco??? - I didnt hear anything about this.

Apologies if this should be in 'Retail' but it seemed finance was the most sensible place for it?

Many Thanks in advance for your help folks!
 
The duty is paid by the manufacturer. You simply pass that on when you buy in stock at the increased prices.

Of course some people bang the price up straight away even if they haven't paid the increased duty.
 
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No change to the planned fuel duty then as well....so that's another 3p rise then isn't it :eek:

At least they have cut tax for the top earners by 5%...that's OK then.

Time to flee UK.

Maggie's Britain a thing of the past? I think not :(
 
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elainec100@cheapaccounting said:
5% is next year

As is a large increase in the personal allowance

The good news is that Wallace and Gromit are really happy though
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LOL

Yeah I know, large increase? This still doesn't detract from the fact that there was no rise last year and the rate of inflation is running higher than Prescott's cholesterol levels.

So large? Nope. Adequate? Yes, for some...

JMTC tho ;)
 
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Is there anything anywhere about NIC rates yet for 2013?
Was there a big hint that NIC and PAYE may be combined in the future?

Am I right in thinking £624 a month is the new £586 from April 2012?
 
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elainec100@cheapaccounting said:
Are you talking about rises in the personal allowance?

2010-11 £6,475
2011-12 £7,475
2012-13 £8,105
2013-14 £9,205

Always best to get the facts right before an argument in my experience :rolleyes::p:eek:
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Too true, yes, I agree and it was a generalised statement and to rebuff I stand by my statement...with a caveat if I may.

What with my wife's wage freeze as a nurse, increase NHS parking charges to go to work, higher fuel prices, 22% increase in heating bills, the average food basket up by 30% (in my house for the same staples), insurances up by 15-20% etc...

Not to mention running my business, costs have increase (as with everyone else I know)

Inflation running at 5.5% RPI (highest level), VAT + 2.5%, frozen wages dropping daily due to this, NI Cons up by 1%, 2 years added to your working life...

It didn't take long for the tories to get their snouts back in the trough...

Yup, I stand by my statement....no increase last year...in fact, as a home owner with a young family of three, like many Britains, I found our budget had NO INCREASE due to the allowance changes.
 
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Is there anything anywhere about NIC rates yet for 2013? - not to my knowledge as yet

Was there a big hint that NIC and PAYE may be combined in the future? - nothign further. It is in the too difficult pot

Am I right in thinking £624 a month is the new £586 from April 2012? - yes according to our calcs. Someone may come along and work out the small saving that could be made if you pay a bit of NI etc
 
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I wondered about the NI limits too - all that talk about taking people out of the tax net but NIC still starts at £7500 a year ish and is calculated weekly so the payroll overhead for employers is still a stinker
 
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ITsoldUK said:
Frequented by tories no doubt that believe we never had it so good...

(tongue in cheek but still runs for the trenches to hide wrapped in me red flag ;))
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Frequented by people who are here to provide help and advice for those who ask sensible questions (well that is generally the case in my experience of the accounts forum and this is the only place I hang out these days) :eek::eek::eek::eek:

I fail to see why me correcting you and stating facts should be blurred with your political assumptions :eek:
 
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Was there any change to the VAT threshold? It usually changes in April after a change in the budget. I heard £77,000 being mentioned in relation to cash accounting simplification of self assessment returns - maybe the same figure being used. They use the VAT threshold figure as the one at which (up to) you can use the 45p/mile method for motor vehicle expenses.

Personally if I was Chancellor I'd bring it down to £10,000 - but then again, if I was Chancellor I'd zero rate Smarties.
 
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David Griffiths said:
Not to mention in the "we don't want to admit that the basic rate of tax and NIC combined is actually 32% pot"
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and we are too stupid to realise that if we make it 32% then the IR35 problem disappears overnight

or the

who suggested that stupid idea pot - that is never going to get us re-elected if we make everyone pay 32%
 
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UKSBD said:
If it was explained clear enough to those paying 32% that it was to stop those gaming the system to only pay 20% it could be a vote winner.
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Let’s see who will volunteer to explain that one to the great British public
:D:D:D:D:D:D:D
 
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UKSBD said:
Surely the great British public are intelligent enough to realise that
20 + 12 is the same as 32?

Or would whoever opposes it just spin it to make it sound differant?
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It would be different because the 20+12 only applies to earnings. A 32% tax rate would apply to all income. No spin needed.
 
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UKSBD said:
Surely the great British public are intelligent enough to realise that
20 + 12 is the same as 32?
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Judging by some of the questions that we see on here I am not sure that I concur that this applies to ALL of the great British public
:p:p:eek:
 
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I was just thinking of having different rates on tax on earnings.

Seems silly that you have a 20% rate on earnings rthen someone under 65 then pays 12% NIC someone over 65 doesn't.

Why not just have 2 tax rates, 32 under 65, 20 over 65?
 
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UKSBD said:
I was just thinking of having different rates on tax on earnings.

Seems silly that you have a 20% rate on earnings rthen someone under 65 then pays 12% NIC someone over 65 doesn't.

Why not just have 2 tax rates, 32 under 65, 20 over 65?
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There are plenty of different types of income that don't attract NIC at present, not just the state pension.

And choosing age 65 doesn't work in the short term because some people get it at 65, some before and many later.
 
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UKSBD said:
I was just thinking of having different rates on tax on earnings.

Seems silly that you have a 20% rate on earnings rthen someone under 65 then pays 12% NIC someone over 65 doesn't.

Why not just have 2 tax rates, 32 under 65, 20 over 65?
Click to expand...

I assume you are aware of the changes being made to the retirement ages
 
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