Mark Hendy

Interim CFO. Tax economics, PE finance, and motorsport and boats

[Dominic McGregor @DominicMcGregor]

Just raise the personal allowance

Stop putting additional cost on businesses resulting in price rises and closures.

Honestly, this is ridiculous now.

It’s going to push so many small businesses passed the brink.

Minimum wage won’t matter to anyone, if there’s no companies to create the jobs .

[Kathryn Porter @KathrynPorter26]

Balancing costs very high again today... Going up c £1 million per half hour settlement period at the moment

£30 million and counting....

[Mark Hendy @markhendy]

@NadiaWhittomeMP Winning an election isn't hard when the state pays for the votes.

Tax cuts for most, handouts for many, and the bill sent to the next generation. That isn't hope beating hate, Nadia. It's policy as a bribe, and the cash always runs out.

[Mark Hendy @markhendy]

@kingkapoor72 Your ad says non Halal. Your tween says Halal

[Mark Hendy @markhendy]

@54JohnBull Do you want someone you can sue if it goes wrong?

[Mark Hendy @markhendy]

@Zirachukwu Because paying 20% tax later is better than paying 45% tax now.

[Ranty Man @RanTeeThree]

The real criminality is that if you earn £200,000 you only get to see around £115,000 of it.

[Mark Hendy @markhendy]

@unisontheunion Libraries are like horse an coaches in a motorised world. Essential, but not in the current format. Digitise it and sack the useless bags of flesh that are no longer needed to maintain it.

[Mark Hendy @markhendy]

@DaleVince Demand isn't the threat, Dale. It's the signal.

A data centre signing a 15-year power contract is what gets new generation financed. More demand spreads the grid's fixed costs over more units, so bills can fall.

Ration demand and you get a smaller, dearer, more fragile grid.

[Mark Hendy @markhendy]

@DanNeidle Seriously though, why should a pensioner on £12,600 pay no tax when a care worker on £12,600 pays tax and NI?

The fix isn't a special allowance. It's unfreezing the one everyone already has. No cliff edge, no new form, fair to everyone.

[Mark Hendy @markhendy]

@DanNeidle My entry: every pensioner gets a Pension Purity Certificate, renewed annually on Form SP-1. Earn £1 of savings interest and it's revoked, then restored by a taper of 13p per pound over 36 months. Unless it's a Tuesday.

Self assessment for 80-year-olds. What could go wrong?

[Mark Hendy @markhendy]

@DaleVince Capped profits in the good years, uncapped losses when oil crashed in 2020. Who invests in a declining basin on those terms?

Nobody. So the gas comes from Norway and Qatar at the world price anyway.

Would Ecotricity take a capped margin, Dale?

[Mark Hendy @markhendy]

@AndreaEganGS "Paid for by the wealthiest" is the oldest line in any Budget.

The top 1% already pay about 27% of all income tax. Most European countries that tried a wealth tax scrapped it.

The problem isn't revenue, Andrea. It's that every "massive investment" becomes permanent spending.

[The Kobeissi Letter @KobeissiLetter]

Brazil's 10Y Government Bond Yield is now pushing 16%!

That's a +300 basis point gain in a single day.

That would be like US mortgage rates going from 7% to 10% in a single day.

[Mark Hendy @markhendy]

@EssexPR Do we though? The right have just been socialists in blue ties.

[Mark Hendy @markhendy]

@AndyC_F1 At enourmous cost. We're governed by imbeciels.

[Mark Hendy @markhendy]

Thank goodness for the energy price cap...
oh...

[Matt Goodwin @GoodwinMJ]

UK household energy bills to surge by 27% next year — EDF forecast.

[Mark Hendy @markhendy]

@NEF A billion a week sounds huge until you ask: on how much capital? A profit figure means nothing without the balance sheet behind it.

Banks already pay 25% corporation tax, a 3% surcharge and the bank levy. Tax the capital that funds lending and you pay in dearer mortgages.

[Mark Hendy @markhendy]

@rdominguezibar Thanks. More here.
https://t.co/WVDgHas3q5

[Mark Hendy @markhendy]

@DaleVince Three different taxes in one post, Dale.

The bank levy is charged on balance sheets, not profits. The 3% is the corporation tax surcharge, on top of 25%. A windfall tax is neither.

And "they say so privately" isn't a source.

Know how banks are taxed before you redesign it.

[Mark Hendy @markhendy]

@ascoulsonFCA @labourlewis Duty is a flat rate per litre, so the extra comes through VAT: 20% on a higher pump price, about a sixth of every extra penny.

And it's mostly paid by households and the self-employed outside VAT. Registered businesses reclaim it.