Autumn Budget scrapped - pensions safe for now!

Thrugelmir

ffacoffipawb said:

Thrugelmir said:

With the annual contribution allowances being unchanged for yet another year. Inflation is progressively reducing the real value. Saying and doing nothing is equally as effective. 

Even with CPI increases the LTA for next year wont be much higher than this year!

No increase in real terms. 

thebrexitunicorn

drummersdale said:

To be honest the longer the crisis continues and the more cash the Government has to print to stave off mass unemployment, the more likely the net will have to be cast for clawing some of the money back. Thank god we haven’t got any more major potential financial disasters looming..... 

  

Silvertabby

Expect the personal tax allowance will remain £12,500 for at least another year.

The_Green_Hornet

Silvertabby said:

Expect the personal tax allowance will remain £12,500 for at least another year.

Even if they increased it by inflation it would only go up by £25.

brewerdave

The_Green_Hornet said:

Silvertabby said:

Expect the personal tax allowance will remain £12,500 for at least another year.

Even if they increased it by inflation it would only go up by £25.

....And I was counting on that extra fiver as well ! Oh well, the central heating has to stay off til November now!

JoeCrystal

The_Green_Hornet said:

Silvertabby said:

Expect the personal tax allowance will remain £12,500 for at least another year.

Even if they increased it by inflation it would only go up by £25.

To be fair, it is quite possible to have a Spring Budget instead and do the tax adjustments in time for the new tax year. I would not be surprised if they decide to reduce the Personal Allowance...

Silvertabby

JoeCrystal said:

The_Green_Hornet said:

Silvertabby said:

Expect the personal tax allowance will remain £12,500 for at least another year.

Even if they increased it by inflation it would only go up by £25.

To be fair, it is quite possible to have a Spring Budget instead and do the tax adjustments in time for the new tax year. I would not be surprised if they decide to reduce the Personal Allowance...

Don't think it will be reduced, it just won't increase.  Spring budget would be too short notice for changes from April.

Albermarle

brewerdave said:

The_Green_Hornet said:

Silvertabby said:

Expect the personal tax allowance will remain £12,500 for at least another year.

Even if they increased it by inflation it would only go up by £25.

....And I was counting on that extra fiver as well ! Oh well, the central heating has to stay off til November now!

Presume if the heating is already on in November , you must be a Southern Softie 

michaels

AS it is possible that in future they might reduce or remove the TFLS might there be advantages in terms of regualtory arbitrage in taking this as soon as possible ie on turning 55, rather than doing some form of phased crystalisation which might be the normal approach?

drummersdale

If they remove the TFLS from the Classic civil service pension, you might see a grown man cry, unless they phase it in or offer a year or two's grace...