If RR is putting up income tax later this month, would it be wise to extract taxable pension?

LHW99

BikingBud said:

westv said:

Qyburn said:

zagfles said:

Not happening according to the BBC Rachel Reeves backs off from plans to raise income tax rates in Budget - BBC News 

I'm disappointed. I think raising income tax would have been the right thing to do. I'm saying that as a taxpayer.

It doesn't mean she won't extend the income tax bands freeze or reduce them.

Oh no she won't!

All together now.... Oh yes .........

michaels

How about converting the extra 2% NI that is charged above the standard rate band into income tax?

zagfles

m_c_s said:

Fiscal drag seems to be the main measure then. Everyone will be hit with higher taxes effectively including those on very low incomes and those on the new state pension. Hope both the HMRC website site and call centre helpline have the capacity to cope.

They could reintroduce a pensioners' tax allowance to avoid taxing people on the new state pension.  

Altior

Qyburn said:

zagfles said:

Not happening according to the BBC Rachel Reeves backs off from plans to raise income tax rates in Budget - BBC News 

I'm disappointed. I think raising income tax would have been the right thing to do. I'm saying that as a taxpayer.

Knock yourself out. No need to wait for Rachel in fact

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