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George Osborne MUST now U-Turn 'Granny Tax'!
boozercruiser
Posts: 763 Forumite
George Osborne has done a partial U turn over the Pasty Tax, the Caravan Tax and the Charity Tax amongst over 30 others. He MUST now do another U-turn in respect of the hated 'Granny Tax'.:mad:
Because George Osborne 'FROZE' the Elderly Tax Allowance at £10,500 forever in his recent budget, present tax paying pensioners will be around £83 a year out of pocket from April 2013.
New tax paying pensioners in particular will have anything up to around £325 less yearly income as the allowance for them goes down to £9,205. At the same time the higher tax rate goes down from 50p to 45p,
This means that someone on £200,000 a year will be around £10,000 a year better off and the super rich on £800,000 or more will be around £40,000 a year better off.
So in effect, Osborne has is taking tax from the poor and giving it to the rich.
A sort of Robin Hood in reverse if you like!
Here are a couple of You Tube Videos which you may or may not find amusing ...
The day George Osborne took the Elderly for fools...
http://www.youtube.com/watch?v=4yDqFvVBNK4
The Tax Gran song...
http://www.youtube.com/watch?v=qMMVe4kfQaE
THE TAX GRAN SONG
You've heard the budget speech now you've been told
Make lots of cash then die before you're old
'Cause we're gonna Tax Gran that's what it is
We're gonna Tax Gran freeze her allowances
You better hope next winter isn't cold
The 50p top rate of tax is now gone
We'll get what we need from Grandma from now on
We're gonna Tax Gran, we're glad she's there
To subsidize the Billionaires
We're gonna Tax Gran
Even the Sun said this is wrong
THIS ARTICLE FROM THE DAILY MAIL EXPLAINS THE ISSUE QUITE WELL...
http://www.dailymail.co.uk/money/pensions/article-2119277/Budget-pensions-tax-allowance-We-explain-YOU-affected-Granny-Tax.html#ixzz1urCBFGHk
Because George Osborne 'FROZE' the Elderly Tax Allowance at £10,500 forever in his recent budget, present tax paying pensioners will be around £83 a year out of pocket from April 2013.
New tax paying pensioners in particular will have anything up to around £325 less yearly income as the allowance for them goes down to £9,205. At the same time the higher tax rate goes down from 50p to 45p,
This means that someone on £200,000 a year will be around £10,000 a year better off and the super rich on £800,000 or more will be around £40,000 a year better off.
So in effect, Osborne has is taking tax from the poor and giving it to the rich.
A sort of Robin Hood in reverse if you like!
Here are a couple of You Tube Videos which you may or may not find amusing ...
The day George Osborne took the Elderly for fools...
http://www.youtube.com/watch?v=4yDqFvVBNK4
The Tax Gran song...
http://www.youtube.com/watch?v=qMMVe4kfQaE
THE TAX GRAN SONG
You've heard the budget speech now you've been told
Make lots of cash then die before you're old
'Cause we're gonna Tax Gran that's what it is
We're gonna Tax Gran freeze her allowances
You better hope next winter isn't cold
The 50p top rate of tax is now gone
We'll get what we need from Grandma from now on
We're gonna Tax Gran, we're glad she's there
To subsidize the Billionaires
We're gonna Tax Gran
Even the Sun said this is wrong
THIS ARTICLE FROM THE DAILY MAIL EXPLAINS THE ISSUE QUITE WELL...
http://www.dailymail.co.uk/money/pensions/article-2119277/Budget-pensions-tax-allowance-We-explain-YOU-affected-Granny-Tax.html#ixzz1urCBFGHk
You've heard the budget speech now you've been told. Make lots of cash then die before you're old 'Cause we're gonna Tax Gran that's what it is We're gonna Tax Gran freeze her allowances. You better hope next winter isn't cold. We're gonna Tax Gran, we're glad she's there.To subsidize the Billionaires. We're gonna Tax Gran and this is wrong!
Should U-Turn Osborne Now U-Turn Freezing The Elderly Tax Allowance? 119 votes
YES, HE SHOULD
15%
18 votes
NO, HE SHOULD NOT
72%
86 votes
HE SHOULD RAISE IT FROM £10,500 IN LINE INFLATION EVERY YEAR AS UP TO NOW
12%
15 votes
0
Comments
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Not much hope of that.I used to be indecisive but now I am not sure.0
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Given that it was the most logical of the revised taxes, lets hope he doesnt.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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boozercruiser wrote: ». New tax paying pensioners in particular will have anything up to around £325 less yearly income as the allowance for them goes down to £9,205.
It doesn't go down as it never went up in the first place.
In a year or two at most everyone will have a higher personal allowance and not just the over 65s. Much fairer IMO.0 -
The only people who hate it tend to be those who haven't taken the time to understand what's being changed.boozercruiser wrote: »He MUST now do another U-turn in respect of the hated 'Granny Tax'.
No he didn't. Which paper did you read that nonsense in?Because George Osborne 'FROZE' the Elderly Tax Allowance at £10,500 forever in his recent budget
Please show your working.present tax paying pensioners will be around £83 a year out of pocket from April 2013.
Unless you start putting more work into accuracy, and back off on the tabloid rhetoric, I can't see it getting much traffic.I have a website on this subject which has no advertisements and is funded by me.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
The Grannies not for turning.
Oh no that was Maggie wasn't it.Liverpool is one of the wonders of Britain,
What it may grow to in time, I know not what.
Daniel Defoe: 1725.
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Given that it was the most logical of the revised taxes, lets hope he doesnt.
I see that you are a financial advisor, know doubt advising people where to put money so you can make yours.
I wonder how much bad advice YOU have given over the years which have ultimately cost people their life savings?
Including Granny's and Grandads.:eek:
If YOU where Chancellor it is pretty obvious Pensioners would be your last priority.
Just remember, when YOU are a Pensioner see how YOU feel then about being hundreds of pounds a year out of pocket because of the FROZEN Granny Tax.
:mad:You've heard the budget speech now you've been told. Make lots of cash then die before you're old 'Cause we're gonna Tax Gran that's what it is We're gonna Tax Gran freeze her allowances. You better hope next winter isn't cold. We're gonna Tax Gran, we're glad she's there.To subsidize the Billionaires. We're gonna Tax Gran and this is wrong!0 -
gadgetmind wrote: »The only people who hate it tend to be those who haven't taken the time to understand what's being changed.
No he didn't. Which paper did you read that nonsense in?
Please show your working.
Unless you start putting more work into accuracy, and back off on the tabloid rhetoric, I can't see it getting much traffic.
Please give your free bad advice to someone who gives a hoot.:DYou've heard the budget speech now you've been told. Make lots of cash then die before you're old 'Cause we're gonna Tax Gran that's what it is We're gonna Tax Gran freeze her allowances. You better hope next winter isn't cold. We're gonna Tax Gran, we're glad she's there.To subsidize the Billionaires. We're gonna Tax Gran and this is wrong!0 -
It doesn't go down as it never went up in the first place.
In a year or two at most everyone will have a higher personal allowance and not just the over 65s. Much fairer IMO.
I see that you are a money saving devotee. You will never save a Pensioner any money, that is for sure.;)You've heard the budget speech now you've been told. Make lots of cash then die before you're old 'Cause we're gonna Tax Gran that's what it is We're gonna Tax Gran freeze her allowances. You better hope next winter isn't cold. We're gonna Tax Gran, we're glad she's there.To subsidize the Billionaires. We're gonna Tax Gran and this is wrong!0 -
The Grannies not for turning.
Oh no that was Maggie wasn't it.
Has your best friend ever told you that you are not very good at telling jokes M8?;)You've heard the budget speech now you've been told. Make lots of cash then die before you're old 'Cause we're gonna Tax Gran that's what it is We're gonna Tax Gran freeze her allowances. You better hope next winter isn't cold. We're gonna Tax Gran, we're glad she's there.To subsidize the Billionaires. We're gonna Tax Gran and this is wrong!0 -
boozercruiser wrote: »Please give your free bad advice to someone who gives a hoot.
How about addressing some of the points I raised? You never know, it might do something for your credibility, which isn't faring too well right now.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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