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Budget Prediction Quiz

Budget Quiz
October 19, 2024

12 Comments

Nobody’s looking forward to tax rises in the Budget.

To create at least some upside, we’ve made a simple Budget prediction quiz.

We’ve listed 34 potential ways the Chancellor could raise tax. Go to the quiz (link below), and tick the tax rises that you predict will happen. For every prediction you get right, you win two points. For every prediction that doesn’t pan out, you lose one point.

Of course there will probably be tax rises that aren’t in our list – you can add additional predictions in the text box at the end of the quiz, and that will be used to resolve any tie on points (but otherwise will be ignored).

Winner gets (at their option) a bottle of decent wine or large box of chocolates. Plus bragging rights.

There’s a catch (there’s always a catch). You have to subscribe to our Substack to enter the quiz. It’s free to join, and you then receive our reports and articles ahead of the crowd.

The link to the quiz is here.

Footnotes

  1. All judging decisions made at the sole discretion of Tax Policy Associates Ltd. If you disagree with our decision, you can file an appeal with the First Tier Tribunal (Tax Chamber), but we cannot guarantee they will accept jurisdiction. ↩︎

  2. Or you can remain anonymous – up to you. ↩︎

Graphic by DALL-E 3: “A large Rubik’s cube on a traditional wooden desk, with papers on either side. The cube should have financial figures on it. Widescreen.”

12 responses to “Budget Prediction Quiz”

  1. Gary avatar
    Gary

    Who won?!

    Reply
  2. CJ avatar
    CJ

    First off no idea how much these will raise
    dividend tax to 10%, 35% and 40%
    (she won’t but should) remove the PA withdrawal taper but increase additional rate to 50%
    Restricting PPR to 40% if not lower
    Tax free lump sums to be restricted in each tax year to £50,000 up to 25% in total. HMRC stopping refunding in year pension refunds would also be a big step too.
    I doubt also she will abolish NI in favour of a payroll tax with rolling NI into tax rates but directors companies should pay for salary from £1 to avoid the directors salary/dividend and loan shuffle.
    Companies that are liquidated owing tax should result in an instant director ban for a set period to avoid them phoenixing assets

    Reply
  3. Stuart Crane avatar
    Stuart Crane

    An Influencer tax. Every time a social media influencer/celebrity receives free stuff, and posts about it, they have to pay a 20% tax.

    Reply
  4. David Ackerman avatar
    David Ackerman

    Taxing the Duchy of Cornwall on income from leases on wind farms would yield £380m pa on a recurring basis and rising.

    Reply
    1. Dan avatar
      Dan

      That is a very smart idea.

      Reply
      1. Albert avatar
        Albert

        Ah, so you don’t want a knighthood

        Reply
  5. Konrad G avatar
    Konrad G

    i) italian-style non-dom regime for foreign investors/HNWs ii) stop the carried-interest CGT ‘loophole’ iii) make the video games tax credit regime more like the new mechanism for independent films iv) increase Class 1A and Class 1B NICs v) extend full expensing to assets for leasing vi) reduce VAT on EVs

    Reply
  6. Andrew James avatar
    Andrew James

    I’ve submitted my entry – but not asked to identify myself. Will you know who to send the bottle to?

    Reply
    1. Dan avatar
      Dan

      we employ a team of psychic hamsters.

      Reply
  7. Sam avatar
    Sam

    Thankyou

    Reply
  8. Creag McMillan avatar
    Creag McMillan

    The simplest way to increase CGT all around

    Bearing in mind the Chancellor could be regarded as quite simple like the rest of the government

    To align CGT with income tax in terms of rates but to keep the same element that applies at the moment tax-free As it were

    Reply
    1. Dan avatar
      Dan

      That would be a disaster, with likely a loss of revenue, for the reasons I explain above.

      Reply

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