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Pension Stealth Taxes
Comments
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You could kill off 99% of the recycling with one fairly simple rule - if you take a tax free lump sum of say £40K, then the first £10k of any future contributions to a private pension don't get given any tax relief from HMRCAnd it would make recycling even more worthwhile so need an increase in complicated rules to prevent it.0 -
You could kill off 99% of the recycling with one fairly simple rule - if you take a tax free lump sum of say £40K, then the first £10k of any future contributions to a private pension don't get given any tax relief from HMRC
Tolley's just keeps getting bigger...Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
What even with a an increase in the PCLS, which would likely encourage more pensions savings?Malthusian wrote: »The removal of higher rate tax relief would be a big and crucially immediate "saving" to the Treasury, or at least it would be reported and accounted for as such. (We all know it's not a saving because tax relief is not a cost to the Treasury, it's a deferral of tax. But for the purposes of this discussion we're using their terms.)
The consultation document specified simplicity would be a key requirement. Mind you...tax credits were supposed to be simple...And an increase in complicated rules? When has that ever stopped them?0 -
What even with a an increase in the PCLS, which would likely encourage more pensions savings?
Wouldn't encourage me. The rules will have changed again in 30 years' time.The consultation document specified simplicity would be a key requirement. Mind you...tax credits were supposed to be simple...
As was pension simplification in 2006.
Freedom Is Slavery
War Is Peace
Ignorance Is Strength
Simplicity Is Complicated0 -
Malthusian wrote: »Wouldn't encourage me. The rules will have changed again in 30 years' time.
I think you misspelled "months" there...Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Even 30 months is optimistic at the moment. We are lucky to get 12 months before another pensions change occurs.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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