Sainsbury's Faces £140 Million Hit from National Insurance Hike, Warns of Rising Inflation

[Chomper Higgot]

Just now, youreavinalaff said:

One more time.

 

You quoted my comment and said " Yet more references to mythical taxes."

 

Please show what taxes I mentioned that you believe to be mythical. That is, taxes I mentioned in the comment you quoted. 

 

If you can't, which I know you can't as I didn't even mention taxes, it just goes to show you are talking bo%%@ks. Not that that is particularly surprising.

One more time, myths, like increased taxes on working people in the Autumn budget don’t exist. 
 

A bit like unicorns, they don’t exist either.

 

Let me know what bits of the budget have made more harder for you, I’m always willing to listen.

[Chomper Higgot]

2 minutes ago, theblether said:

 

No, the accurate description. 

 

Sainsburys profit is equivalent to a whopping 2% of sales. 

 

Oh, and they pay tax on that 2%. You are clearly a financial illiterate. 

When did I say they don’t pay tax on the profits?

 

 

[Chomper Higgot]

All this anger and personal attacks over taxes you aren’t paying, what’s going on guys?

 

 

[theblether]

Just now, Chomper Higgot said:

When did I say they don’t pay tax on the profits?

 

 

 

When was the last time a thief broke into a house and paid all the bills? 

 

You're that stupid you calculated the £140 mil increase against gross turnover ( financial illiterate territory ). 

 

Did you not know that 98% of that turnover is cost? 

[Chomper Higgot]

1 minute ago, theblether said:

 

When was the last time a thief broke into a house and paid all the bills? 

 

You're that stupid you calculated the £140 mil increase against gross turnover ( financial illiterate territory ). 

 

Did you not know that 98% of that turnover is cost? 

Yet more personal attacks.

 

The costs just went up by less than half of 1% and even that is deductible against taxes on profits.

[youreavinalaff]

6 minutes ago, Chomper Higgot said:

One more time, myths, like increased taxes on working people in the Autumn budget don’t exist. 
 

A bit like unicorns, they don’t exist either.

 

Let me know what bits of the budget have made more harder for you, I’m always willing to listen.

I didn't mention any taxes in the comment you quoted.

 

You didn't like my comment as it goes against your agenda and was factual. I even posted a link. Everyone knows how you like a link.

 

Go back into your little corner and think long and hard about accusing people of doing things they haven't done. 

[theblether]

1 minute ago, Chomper Higgot said:

Yet more personal attacks.

 

The costs just went up by less than half of 1% and even that is deductible against taxes on profits.

 

The personal attack is deserved as you are spouting drivel. 

 

Do you realise that the NI cost increase to Sainsburys is equivalent to their Corporation tax on profits paid last year? 

 

Do you understand the implications pf that? 

[Chomper Higgot]

1 minute ago, youreavinalaff said:

I didn't mention any taxes in the comment you quoted.

 

You didn't like my comment as it goes against your agenda and was factual. I even posted a link. Everyone knows how you like a link.

 

Go back into your little corner and think long and hard about accusing people of doing things they haven't done. 

Oh so that wasn’t you inserting a link to ‘Tax raising budget’?

 

 

[Chomper Higgot]

1 minute ago, theblether said:

 

The personal attack is deserved as you are spouting drivel. 

 

Do you realise that the NI cost increase to Sainsburys is equivalent to their Corporation tax on profits paid last year? 

 

Do you understand the implications pf that? 

Personal attacks are never deserved.

 

Yes I do realize, it’s also less than Saunsbury have allocated for a share buy back, which adds nothing to the company profitability but does pad out share price with a faux ‘improvement’.

 

And…. It’s tax deductible, so on that ‘financial literacy thing…?.

 

 

[Kinnock]

On 11/9/2024 at 11:38 AM, Chomper Higgot said:

Sainsbury have an annual sales revenue of around £32.08 Billion.

 

£140 million represents 0.436% of their sales revenue.

 

Go on tell me that’s a big hit to inflation.

https://www.statista.com/statistics/386342/sainsburys-retail-sales-united-kingdom-uk/

Increased NI payments come out of profit, not revenue.  Still a decent amount of money, although UK supermarkets are quite competitive, so margins are lower than in Thailand for example, where CP have a clear leadership position. .

Edited November 10 by Kinnock

[Chomper Higgot]

1 minute ago, Kinnock said:

Increased NI payments come out of profit, not revenue.

They are a tax deductible cost, so no they do not come out of profits.

 

 

[Nick Carter icp]

39 minutes ago, Chomper Higgot said:

 

EDL, who you mention, were subject to price controls in their home county.

 

 

   The EDL's home country is England 

🙂

[theblether]

5 minutes ago, Chomper Higgot said:

Personal attacks are never deserved.

 

Yes I do realize, it’s also less than Saunsbury have allocated for a share buy back, which adds nothing to the company profitability but does pad out share price with a faux ‘improvement’.

 

And…. It’s tax deductible, so on that ‘financial literacy thing…?.

 

 

 

I've ran a business in the UK for 30 years, I know what I'm talking about. 

 

What happens to company profits when costs increase? 

 

.................................

 

Setting aside talking to this arrogant wee man, on the ground in the UK many people I know are closing up, selling or retiring. They've had enough. My business partner had to talk me out of retiring last night. 

 

You see, the one thing businessmen love is having their payroll costs increased by a triple whammy and then told their pensions are now liable for 40% tax. Its truly wonderful stuff. 

 

Then we turn to the idiot and see gibbering idiots writing off £140 million payroll cost increase as minor and irrelevant. 

 

Just moronic talk. 

[youreavinalaff]

48 minutes ago, Chomper Higgot said:

Oh so that wasn’t you inserting a link to ‘Tax raising budget’?

 

 

The link was regards to job losses and a letter sent by major business leaders in hodpitality to the treasury. I believe the article linked their concerns to a rise in employers NI but not mythical tax rises, as you suggested.

 

Hence, your subsequent comment being the usual bo%#@ks that comes from you.

Edited November 10 by youreavinalaff

[Chomper Higgot]

8 hours ago, theblether said:

 

I've ran a business in the UK for 30 years, I know what I'm talking about. 

 

What happens to company profits when costs increase? 

 

.................................

 

Setting aside talking to this arrogant wee man, on the ground in the UK many people I know are closing up, selling or retiring. They've had enough. My business partner had to talk me out of retiring last night. 

 

You see, the one thing businessmen love is having their payroll costs increased by a triple whammy and then told their pensions are now liable for 40% tax. Its truly wonderful stuff. 

 

Then we turn to the idiot and see gibbering idiots writing off £140 million payroll cost increase as minor and irrelevant. 

 

Just moronic talk. 

Nobody has claimed £140 million in NI increases is ‘irrelevant’ as my father told me and I told my own kids, ‘you’ve gotta pay your taxes son’.

 

Triple whammy?

 

 

Retirement is something to look forward to.

 I’ve never met anyone who said they retired to early, though I have met many who didn’t plan and prepare for retirement.

 

I’ve always expected part of my pensions to be subjected to 40% tax, on the flip side they are a very effective means of making tax free savings through your working lives. 

The tax free lump sum alone is a shockingly good deal.

Protected allowances yet another stunningly good deal.

…..

Please take note of the avoidance of invective. 

[Chomper Higgot]

8 hours ago, youreavinalaff said:

The link was regards to job losses and a letter sent by major business leaders in hodpitality to the treasury. I believe the article linked their concerns to a rise in employers NI but not mythical tax rises, as you suggested.

 

Hence, your subsequent comment being the usual bo%#@ks that comes from you.

Yet more invective.

 

[theblether]

45 minutes ago, Chomper Higgot said:

Nobody has claimed £140 million in NI increases is ‘irrelevant’ as my father told me and I told my own kids, ‘you’ve gotta pay your taxes son’.

 

Triple whammy?

 

 

Retirement is something to look forward to.

 I’ve never met anyone who said they retired to early, though I have met many who didn’t plan and prepare for retirement.

 

I’ve always expected part of my pensions to be subjected to 40% tax, on the flip side they are a very effective means of making tax free savings through your working lives. 

The tax free lump sum alone is a shockingly good deal.

Protected allowances yet another stunningly good deal.

…..

Please take note of the avoidance of invective. 

 

Triple NI whammy. Work it out for yourself. 

 

Are you seriously suggesting that this mandatory tax increase in the cost of employment is fine because it's tax deductible against profits? 

 

No one is this stupid. Genuinely, no one. 

 

So I'm looking forward to you educating me in this matter. 

 

And no one in their right mind believes 40% of your pension pot being taxed aftera lifetime of saving is a good deal. 

 

You truly are a financial illiterate. Stunningly stupid. 

[Chomper Higgot]

3 hours ago, theblether said:

 

Triple NI whammy. Work it out for yourself. 

 

Are you seriously suggesting that this mandatory tax increase in the cost of employment is fine because it's tax deductible against profits? 

 

No one is this stupid. Genuinely, no one. 

 

So I'm looking forward to you educating me in this matter. 

 

And no one in their right mind believes 40% of your pension pot being taxed aftera lifetime of saving is a good deal. 

 

You truly are a financial illiterate. Stunningly stupid. 

Yet more invective.

 

Your pension pot will not be taxed at 40 while you are alive.

 

Closing the loophole of using pension pots to avoid inheritance tax makes very good sense.

 

Pension pots are tax deductible savings that grow free of capital gains tax and offer a significant tax free lump sum when pensions are first drawn.
 

Allowing these tax free assets to be passed on as a tax free is ludicrous.

 

I have absolutely no objection to my pension pot being taxed after I die, I will no longer have any need of it.

Ans as I mentioned earlier, a portion of my monthly UK pension payments will be subject to 40% tax.

 

‘You gotta pay your taxes son’.

 

 

 

[youreavinalaff]

7 hours ago, Chomper Higgot said:

Yet more invective.

 

No invective at all. Just raw truth.