George Osborne MUST now U-Turn 'Granny Tax'!

gadgetmind

Thrugelmir wrote: »

If as many are, They bring their business and skills to London. Then the UK is going to benefit enormously.

I've already started finding great graduates from Greece, Spain, Italy and France, and we're now also starting to see applications from the movers and the shakers of those countries. Skilled people are *very* mobile and those who say otherwise are clearly not at the sharp end of hiring and firing.

boozercruiser

teajug wrote: »

LOL the last government was looking after themselves Blair and Co were only interested in becoming millionaires as soon as possible and now we have a Cameron and Co that are millionaires and they are certainly looking after themselves and their friends.. :mad::mad::mad:

Well said teajug:T My sentiments exactly.

Tory:mad:, Labour:mad:, Liberal:mad::mad::mad: and most of the rest too.

A plague on all their houses I say.:D

gadgetmind

boozercruiser wrote: »

In this cocoon of a Forum it just has to be the ignore button.;)
It does the job, no offence is meant and they have the same facility as me.

I have 5x the number of postings as you and have *never* put anyone on ignore. I *like* to hear arguments that run contrary to my current thinking, particularly good ones, and am prepared to change my position in the face of these.

Clearly not everyone is so open minded. What a crying shame.

hugheskevi

Tax and pensions *must* all keep getting simpler, with streamlined changes that can be understood by all, or no-one will know where they're going to stand.

Totally agree.

Charges and performance are always going to be challenging issues, and there are no easy answers there. But there is no reason why the rest of the environment has to have nasty surprises individuals might come a cropper with if they lack comprehensive knowledge.

For those at the bottom-end, a bit of pension saving can put you just above the means-testing levels and you miss out on pass-ported benefits and such like.

At mid-income, you might end up with a big chunk of income taxed at 30%, rather disappointing when you maybe got tax relief at 20% on the pension saving.

For everyone, there are very big gains from carefully timing when you put money into a pension - avoid contributing as a basic rate taxpayer and pile it in when a higher rate taxpayer with salary sacrifice and employer NICs refunds available and the outcome will be far, far better.

Then there is all the legislative risk - think you had RPI uprating, ah, well, you didn't, even if scheme literature said you did. Planned to take the pension at age 50? Bad luck, have to change your plans. Responsibly drawing down at 120% GAD - no longer I'm afraid.

And add to that some downright stupid rules - young and want to make DB AVCs? Fine, but they won't be valued at the level of contribution, but will be valued assuming you are aged 48. Want to use flexible drawdown as you have a big DB pension? You have to commence the DB pension early to qualify, not good enough that it is blatant to all that you have plenty of pension wealth to meet the thresholds.

The closer we can come to a system that means making pension saving always pays, and it pays the same regardless of how you manipulate contributions and the rules change infrequently and with lots of notice (preferably with protection for savings already made where it would be sensible), the better it will be.

boozercruiser

browniej wrote: »

Some things you win and some you lose - that's life.

However now that I know you have seen the graph, how about debating why you think pensioners should get off even more lightly than they already have?

At least you seem a reasonable type so I will have just a little try.
If I went into it fully I would spend my evening here sat in front of my computer so I will just mention perhaps a main reason why.

Say you have a Pensioner on whatever income. Some will pay no tax and anyone with £10,500 coming in will now be taxed at 20%

Most Pensioners income will be FIXED with no chance at all of increasing it until April comes around and the Government perhaps shoves them a fiver. Remember the 75p pay rise we got off Brown? On top of that any private Pensions one has MAY give a little more.

Now then, the younger one is if they have any thoughts and brains to work hard and better themselves they at least have the OPPORTUNITY to IMPROVE pay and housing conditions.

A Pensioner on a FIXED income does not.:)

Take me for instance. At age of 31 I was living in Liverpool with no job after being made redundant. I was living at the bottom of a !!!! hole high rise after returning from working abroad.

I telephoned and was travelling around the country looking for work, found a job and moved to Northampton. I got on my bike.

I worked mostly seven days a week on 12 or 14 hour morning/afternoon/night shifts for over 30 years and purchased my Council House early on as Thatcher allowed it. I voted Tory for the very first time on that account.

I then sold that house and went private, sold that and so on until here I am in lovely rural Wales and retired.

I CANNOT raise my income now at all. Who will employ a Pensioner nowadays even if one want to, which I do not.

So then chap, you MAY just be on poor pay right now, but it will be YOUR fault not mine if you struggle on it.

With respect to all, get on your bike if needed.:cool:

If the above explaination as to why Pensioners need a little more help does not satisfy you, tough as I have no more to say about it.:beer: time:beer:

atush

gadgetmind wrote: »

I have 5x the number of postings as you and have *never* put anyone on ignore. I *like* to hear arguments that run contrary to my current thinking, particularly good ones, and am prepared to change my position in the face of these.

Clearly not everyone is so open minded. What a crying shame.

So totally true. I haven't put anyone on ignore, although there are a fdew that tempt me from time to time (where is fairleads BTW?).

And I don't start inflamatory rants.

Anyone who does, and then puts all the non agreement repliers on ignore, is a big fat baby

browniej

boozercruiser wrote: »

Now then, the younger one is if they have any thoughts and brains to work hard and better themselves they at least have the OPPORTUNITY to IMPROVE pay and housing conditions.

A pensioner on an income of £10.5k doesn't seem to have made much of all those opportunities.

Who will employ a Pensioner nowadays

There are many companies that will employ experienced older members of the community - B&Q, BT, Centrica, M&S and Sainsbury's being the top 5.

even if one want to, which I do not.

I don't believe you should either if you prefer not to. However it is your choice. There are many 69 year olds who enjoy working and don't want to retire at age 65. Now they don't have to if they don't want to.

There are also many young people who want to work but cannot get work so it's not as simple to just "get on your bike".

So then chap, you MAY just be on poor pay right now, but it will be YOUR fault not mine if you struggle on it.

Just as it is not my fault that you did not do enough during your working years to ensure that you have enough in your retirement years. You at least have had an increase in your pension that keeps up with inflation. How many workers have just had a 5.2% payrise?

If the above explaination as to why Pensioners need a little more help does not satisfy you, tough as I have no more to say about it.:beer: time:beer:

You have had more help than others - up to 2.3% of it.

I'm sure if you gave up half a pint of beer a week you could easily save that extra £1.60pw of tax.

atush

hugheskevi wrote: »

Totally agree.

Charges and performance are always going to be challenging issues, and there are no easy answers there. But there is no reason why the rest of the environment has to have nasty surprises individuals might come a cropper with if they lack comprehensive knowledge.

For those at the bottom-end, a bit of pension saving can put you just above the means-testing levels and you miss out on pass-ported benefits and such like.

At mid-income, you might end up with a big chunk of income taxed at 30%, rather disappointing when you maybe got tax relief at 20% on the pension saving.

For everyone, there are very big gains from carefully timing when you put money into a pension - avoid contributing as a basic rate taxpayer and pile it in when a higher rate taxpayer with salary sacrifice and employer NICs refunds available and the outcome will be far, far better.

Then there is all the legislative risk - think you had RPI uprating, ah, well, you didn't, even if scheme literature said you did. Planned to take the pension at age 50? Bad luck, have to change your plans. Responsibly drawing down at 120% GAD - no longer I'm afraid.

And add to that some downright stupid rules - young and want to make DB AVCs? Fine, but they won't be valued at the level of contribution, but will be valued assuming you are aged 48. Want to use flexible drawdown as you have a big DB pension? You have to commence the DB pension early to qualify, not good enough that it is blatant to all that you have plenty of pension wealth to meet the thresholds.

The closer we can come to a system that means making pension saving always pays, and it pays the same regardless of how you manipulate contributions and the rules change infrequently and with lots of notice (preferably with protection for savings already made where it would be sensible), the better it will be.

I liked pretty much all of that but:

Responsibly drawing down at 120% GAD

As I never really thought that was responsible, more flying by the seat of your pants. Which is fine, I do it on occasion. but you need to acknowledge the risks.

atush

At least you seem a reasonable type so I will have just a little try.

Again, actually bothering to respond to yet another post to His OP, but he is acting like he is doing someone a favour. Pathetic.

MonkeyMad

boozercruiser wrote: »

I worked mostly seven days a week on 12 or 14 hour morning/afternoon/night shifts for over 30 years and purchased my Council House early on as Thatcher allowed it. I voted Tory for the very first time on that account.

Glad you took advantage of the situation and bought a house at less than market price and voted for the party that suited your situation. Pity they now have had to make some decisions you don't like, and which unfortunately mean you lost out. Bit like tenants who now cannot get a council house because they have all been sold.

If you banked your future on trading up to live in semi-rural Wales (which you seem very proud of) without ensuring a decent pension you're an idiot.

Still, never mind, if we account the profit you made on the house, you are probably still up, and one could argue you have had quite a lot out of the pockets of other taxpayers already.