Protecting pensions from politicians - or preparing for a Labour coalition

Chrysalis

seven-day-weekend wrote: »

If Labour win, I will ask my financial advisor to organise my assets into an account on the Isle of Man.

I'm already drawing Pensions - State and LGPS.

you just admitted to tax avoidance?

Are we supposed to pat you on the back that you dont like to pay into a state?

Also I have not heard of planned raid on savings so I dont even see the point of your plan.

You do realise right you dont take it with you when you die? hoarding it away like you do.

What you seem to be completely missing is what happens if the tories plans fail? They will have to also look for ways to raise money, indeed they already are with the failed tax on the self employed and the scrapping of triple lock.
Targeting reductions to borrowing - needs money
Cutting corporation tax to big businesses - needs lots of money, 10s of billions

Both governments need money for their plans, but you seem to consider the tories as less risky for some reason.

Chrysalis

seven-day-weekend wrote: »

I am grateful!

You dont sound like it, all your recent posts are anti community and pro individual greed. I get the impression your priority is yourself and nothing else matters, you may not mean that but thats the impression you left on me with your posts.

seven-day-weekend

Chrysalis wrote: »

you just admitted to tax avoidance?

Are we supposed to pat you on the back that you dont like to pay into a state?

Also I have not heard of planned raid on savings so I dont even see the point of your plan.

You do realise right you dont take it with you when you die? hoarding it away like you do.

What you seem to be completely missing is what happens if the tories plans fail? They will have to also look for ways to raise money, indeed they already are with the failed tax on the self employed and the scrapping of triple lock.
Targeting reductions to borrowing - needs money
Cutting corporation tax to big businesses - needs lots of money, 10s of billions

Both governments need money for their plans, but you seem to consider the tories as less risky for some reason.

I was not even considering tax avoidance. It was savings I was thinking of putting into the IoM, not salary - mainly because I forsee a Corbyn Administration taking them off me in diverse ways.

seven-day-weekend

Chrysalis wrote: »

You dont sound like it, all your recent posts are anti community and pro individual greed. I get the impression your priority is yourself and nothing else matters, you may not mean that but thats the impression you left on me with your posts.

Well you are quite wrong. I don't want to go into details because I will then be accused of virtue signalling, but I assure you I do think of others less fortunate than myself and do practical things to help as well.

I just wanted to protect our assets for our son, who is never likely to earn much more than living wage, for reasons that don't need to be gone into on here. I wasn't even particularly thinking of tax issues, just putting the capital somewhere where it can't be used against me by a socialist administration. Even if I WAS thinking of Tax Avoidance, this is not illegal. People do it every time they open an ISA.

I will still see the IFA and see what he suggests.

seven-day-weekend

Chrysalis wrote: »

you just admitted to tax avoidance?

Are we supposed to pat you on the back that you dont like to pay into a state?

Also I have not heard of planned raid on savings so I dont even see the point of your plan.

You do realise right you dont take it with you when you die? hoarding it away like you do.

What you seem to be completely missing is what happens if the tories plans fail? They will have to also look for ways to raise money, indeed they already are with the failed tax on the self employed and the scrapping of triple lock.
Targeting reductions to borrowing - needs money
Cutting corporation tax to big businesses - needs lots of money, 10s of billions

Both governments need money for their plans, but you seem to consider the tories as less risky for some reason.

I am not 'hoarding it away'. It is for our son's future and there is a specific goal in sight. Also, you have no idea what I spend it on.

Chrysalis

I know tax avoidance isnt illegal

But thank you for explaining a bit more.

However I think you are jumping the gun making assumptions that certain things will happen.

seven-day-weekend

Chrysalis wrote: »

I know tax avoidance isnt illegal

But thank you for explaining a bit more.

However I think you are jumping the gun making assumptions that certain things will happen.

Probably. It's a bit belt and braces

le_loup

michaels wrote: »

It is not hard to remember Gordon Brown's first tax raid - his pension tax was one of the big reason that final salary pensions were stopped and many existing schemes are underfunded.

Simply amazing that this myth still lives. Probably because the Tory Press owned by billionaires keeps repeating it ad nauseam and thus innocent people believe it.
The changes to dividend tax was accompanied by an abolition of Advanced Corporation Tax and a 2% reduction of Corporation Tax and was tax neutral. It was the last part of a sensible, gradual change started by the previous (tory) government.
Any stopping of Final Salary Pensions was because of poor actuarial calculations by not considering the wonderful increase in life expectancy accompanied by the slower increase in retirement age. That means that people were/are drawing pensions for a much longer period.
There, cleared that up for you.

Andy_L

michaels wrote: »

Wow, 4 visits per day costs the same as employing 3-4 nurses full time....

You've done a "Diane Abbot" there and only looked a the salary, not the full cost of employing someone

ETA: although £100k pa for a home carer does seem a bit high

Andy_L

BobQ wrote: »

So your husband's was not just given to you like some public sector pensions. The TPS is an unfunded scheme.

being an unfunded pension is a different issue to whether or not their are employees contributions