NOW OPEN: the MSE Forum 'Ask An Expert' event. This time we'd like your questions on TRAVEL & HOLIDAY DEALS. Post by Wed and deals expert MSE Oli will answer as many as he can.

Budget 2014: 'Almost everyone' to pay less tax

in Cutting tax
3 replies 1.9K views
"Almost everybody will pay less income tax, Chancellor George Osborne announced in the Budget today"
Read the full story:

Budget 2014: 'Almost everyone' to pay less tax


Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.


  • 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.
  • gadgetmindgadgetmind Forumite
    11.1K Posts
    Part of the Furniture 10,000 Posts Combo Breaker
    > 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.
    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.
  • doverrogdoverrog Forumite
    16 Posts
    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?
This discussion has been closed.
Latest MSE News and Guides

Energy Price Cap change

Martin Lewis on what it means for you

MSE News

Best £1 you've ever spent?

Share your most impressive bargains

MSE Forum