Budget 2014: 'Almost everyone' to pay less tax 19 March 2014 at 5:32PM in Cutting tax 3 replies 1.9K views

Former_MSE_Michael

"Almost everybody will pay less income tax, Chancellor George Osborne announced in the Budget today"

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Budget 2014: 'Almost everyone' to pay less tax



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Frequentflyer2

Re not having to buy an annuity with the pension pot - it will be important to understand the implications for means testing - if the undrawn pension pot is treated as capital that is available to you, you may be forced to draw down to pay for care bills. This won't be in the tax announcements or legislation, and may change over time, so it may be difficult to assess it now.

gadgetmind

> Those who earn £100,000 or more start to lose their personal allowance, so they don't benefit in the same way. But they'll still see more of their income charged at 20% rather than 40%.

It's late, I'm on holiday, I've had a few brews ...

Has anyone fed this into a spreadsheet yet? It all looks broadly neutral to the MK1 eyeball.

doverrog

Hi,
Looks as though we could transfer some unused Personal Allowance between us, but does anyone know how we go about doing it and how we calculate how much we can transfer?
I tried contacting HMRC but it's only by telephone and it's permanently busy?
Will HMRC write to people to explain or do we somehow have to find out ourselves?