£2000 NI relief cap on pension salary sacrifice from April 2029 (confirmed)

bjorn_toby_wilde

GunJack said:

All this talk of adding NI to this, that and the other just smacks of dishonesty on the part of the govt, just put the last 2p cut back on to employees and be done with it.....when it came down from 12 to 10 to 8pct, despite me personally benefitting from those cuts, I did say at the time it was a bad move.  

It felt like Hunt made the 2% cut in 2024 to lay a trap for the incoming government, which they obligingly jumped into with their pledge to not raise taxes on working people.

Cobbler_tone

One more sleep....I think most of the big stuff has been leaked out.

The crystal ball says:
- Milkshake tax (tick)
- Extended freeze to tax bands
- Removal of the two child benefit cap
- Changes to cycle to work
- 4.8% on the triple lock
- Frozen rail fares and prescription charges
- EV tax
- The amusing 'mansion tax' which can be deferred until you move or decease.
- ISA cut to £12k* 
- Fuel duty 5p reduction removed
- ...and a leftfield rabbit from the hat.

But as this is a pension board:
- £2,000 limit on NI relief for SS, with the devil in the detail.

I think all of this will happen but * potentially could vary/be unchanged.

Someone else can start a thread for the morning (I'm sure there will be more than one!) to capture the woes of those now proclaiming they now have to work until they are 75.

artyboy

Cobbler_tone said:

One more sleep....I think most of the big stuff has been leaked out.

The crystal ball says:
- Milkshake tax (tick)
- Extended freeze to tax bands
- Removal of the two child benefit cap
- Changes to cycle to work
- 4.8% on the triple lock
- Frozen rail fares and prescription charges
- EV tax
- The amusing 'mansion tax' which can be deferred until you move or decease.
- ISA cut to £12k* 
- Fuel duty 5p reduction removed
- ...and a leftfield rabbit from the hat.

But as this is a pension board:
- £2,000 limit on NI relief for SS, with the devil in the detail.

I think all of this will happen but * potentially could vary/be unchanged.

Someone else can start a thread for the morning (I'm sure there will be more than one!) to capture the woes of those now proclaiming they now have to work until they are 75.

Well I won't be working until 75, but I may have to scale back my ambitions on that superyacht...

It's certainly unlikely to be good news, unless you are called Vicky Pollard.

Buckle up, buttercups.

BlackKnightMonty

I did hear today that premium car brands (audi, bmw, mercedes etc) will no longer be available on motability.

it’s a start.

Cobbler_tone

BlackKnightMonty said:

I did hear today that premium car brands (audi, bmw, mercedes etc) will no longer be available on motability.

it’s a start.

Good shout that. I often wondered why they can't do a deal with Dacia or someone for mobility vehicles, as opposed to choosing from a full range. That could save a packet.

Cobbler_tone

artyboy said:

Cobbler_tone said:

One more sleep....I think most of the big stuff has been leaked out.

The crystal ball says:
- Milkshake tax (tick)
- Extended freeze to tax bands
- Removal of the two child benefit cap
- Changes to cycle to work
- 4.8% on the triple lock
- Frozen rail fares and prescription charges
- EV tax
- The amusing 'mansion tax' which can be deferred until you move or decease.
- ISA cut to £12k* 
- Fuel duty 5p reduction removed
- ...and a leftfield rabbit from the hat.

But as this is a pension board:
- £2,000 limit on NI relief for SS, with the devil in the detail.

I think all of this will happen but * potentially could vary/be unchanged.

Someone else can start a thread for the morning (I'm sure there will be more than one!) to capture the woes of those now proclaiming they now have to work until they are 75.

 I may have to scale back my ambitions on that superyacht...

You only need a life raft Arty.

Grumpy_chap

Cobbler_tone said:

But as this is a pension board:
- £2,000 limit on NI relief for SS, with the devil in the detail.

Yes, I really would like to understand how this will actually work?  Easy for the straight forward cases but more complex for:
Owner Director - ltd co 
DB scheme 
Sole trader
Umbrella company 

I guess we'll have to wait for the technical guidance to be interpreted before that even starts to become clear.

Cobbler_tone said:

- Removal of the two child benefit cap
- 
- ...and a leftfield rabbit from the hat.

What, both together?

Cobbler_tone said:

- EV tax

artyboy said:

I may have to scale back my ambitions on that superyacht...

I won't be getting a solar powered yacht now but another diesel engine jobby
😉

Cobbler_tone said:

BlackKnightMonty said:

I did hear today that premium car brands (audi, bmw, mercedes etc) will no longer be available on motability.

it’s a start.

Good shout that. I often wondered why they can't do a deal with Dacia or someone for mobility vehicles, as opposed to choosing from a full range. That could save a packet.

More like politics or envy and likely to cost more.  Motability is only a lease scheme and lease rates are often more favourable for, say an A3, than, say an Astra.




When can we start speculating about Budget 26?
Please.
I can't wait.
And have nothing else to do in the meantime.

Eldi_Dos

Cobbler_tone said:

BlackKnightMonty said:

I did hear today that premium car brands (audi, bmw, mercedes etc) will no longer be available on motability.

it’s a start.

Good shout that. I often wondered why they can't do a deal with Dacia or someone for mobility vehicles, as opposed to choosing from a full range. That could save a packet.

Are you sure about that?, my understanding is that motability car allowance is just that, an allowance for the recipient to use as they see fit, cannot see how restricting what brands can be leased would save money, if allowance remains as was.

Andy_L

Cobbler_tone said:

BlackKnightMonty said:

I did hear today that premium car brands (audi, bmw, mercedes etc) will no longer be available on motability.

it’s a start.

Good shout that. I often wondered why they can't do a deal with Dacia or someone for mobility vehicles, as opposed to choosing from a full range. That could save a packet.

It wouldn't though. People using Motability who are choosing a premium car are paying the extra cost out of their own pocket. So if you limit what cars can be leased, we would still be paying out the same amount in PIP benefits.

LHW99

Andy_L said:

Cobbler_tone said:

BlackKnightMonty said:

I did hear today that premium car brands (audi, bmw, mercedes etc) will no longer be available on motability.

it’s a start.

Good shout that. I often wondered why they can't do a deal with Dacia or someone for mobility vehicles, as opposed to choosing from a full range. That could save a packet.

It wouldn't though. People using Motability who are choosing a premium car are paying the extra cost out of their own pocket. So if you limit what cars can be leased, we would still be paying out the same amount in PIP benefits.

I had understood that PIP was to help with things that were difficult for you to do due to sickness, disability etc. If it can be used to allow for paying for a higher spec car (as opposed to paying for suitable adaptations), I wonder if it should be means tested.

An argument is often made that the elderly should be prepared to pay for their own care, handing over attendance allowance, income and capital until reduced to a minimum level, but it appears capital and earned income are not taken into account for PIP