Potential capping of Salary Sacrifice (speculation)?

michaels

BlackKnightMonty said:

michaels said:

Albermarle said:

michaels said:

Grumpy_chap said:

This speculation seems to have ignored the other speculation that NI will be cut to zero and income tax increased by the same percentage...

I did some totting up based on a 2% NI to IT transfer plus other speculation:

Cutting pension TFLS to 100k - 38,000 one off
0.25% annual charge on pension pot - 1750 pa
2% on income tax with 2% off NI - 600 pa
Council Tax revaluation and new bands - 2500pa
Road use charge 3p per mile - 360pa

So a one off 38k and £5,210pa for the rest of my life.

Must be that with a household income mid 40s k we are the super rich.

Any change to the TFLS has been ruled out. The rest is just speculation. 

As per the thread title.  However I would love a link to the ruling out of the TFLS reduction.  During the election campaign council tax rebanding was ruled out by Kier Starmer and of course the manifesto also ruled out increases in income tax....

Government figures sought to quash separate speculation that Reeves could cut tax-free pension lump-sum withdrawals, currently allowed on up to 25 per cent of a total pension pot up to a maximum of £268,275.

https://on.ft.com/482NXev

Of course if they are planning to do it they would want to try to discourage as many as possible from taking pre-emptive action.....

masonic

Do we have a dedicated TFLS speculation thread yet?

hyubh

michaels said:

Albermarle said:

michaels said:

Grumpy_chap said:

This speculation seems to have ignored the other speculation that NI will be cut to zero and income tax increased by the same percentage...

I did some totting up based on a 2% NI to IT transfer plus other speculation:

Cutting pension TFLS to 100k - 38,000 one off
0.25% annual charge on pension pot - 1750 pa
2% on income tax with 2% off NI - 600 pa
Council Tax revaluation and new bands - 2500pa
Road use charge 3p per mile - 360pa

So a one off 38k and £5,210pa for the rest of my life.

Must be that with a household income mid 40s k we are the super rich.

Any change to the TFLS has been ruled out. The rest is just speculation. 

As per the thread title.  However I would love a link to the ruling out of the TFLS reduction.  During the election campaign council tax rebanding was ruled out by Kier Starmer and of course the manifesto also ruled out increases in income tax....

Of course they won't, it will upset the BMA.

Albermarle

masonic said:

Do we have a dedicated TFLS speculation thread yet?

It could be open permanently as if nothing happens in this budget, it will not be long before it all starts again before the next budget.....

MeteredOut

Albermarle said:

masonic said:

Do we have a dedicated TFLS speculation thread yet?

It could be open permanently as if nothing happens in this budget, it will not be long before it all starts again before the next budget.....

I think a "Guess the next rumour thread" would be more interesting than regurgitating the same discussions around previous rumors.

I hear that alongside removing the two child cap on child benefit,  they're going to tax people if they've not produced any offspring by the time they're 40 (for women) and 50 (for men) - a kind of negative child benefit tax. There will be exemptions based on the production of a suitable medical certificate showing inability to have children.

Cobbler_tone

MeteredOut said:

Albermarle said:

masonic said:

Do we have a dedicated TFLS speculation thread yet?

It could be open permanently as if nothing happens in this budget, it will not be long before it all starts again before the next budget.....

 they're going to tax people if they've not produced any offspring by the time they're 40 (for women) and 50 (for men) - a kind of negative child benefit tax. 

TBF that happens already naturally and they support the economy for those who do. It's very strong personal justification (and lack of guilt) for the OH retiring at 54. No mat leave, career breaks, or other benefits associated with having kids. On the flip side I blame her for the declining population.   

snarffie

MeteredOut said:

Albermarle said:

masonic said:

Do we have a dedicated TFLS speculation thread yet?

It could be open permanently as if nothing happens in this budget, it will not be long before it all starts again before the next budget.....

I think a "Guess the next rumour thread" would be more interesting than regurgitating the same discussions around previous rumors.

I hear that alongside removing the two child cap on child benefit,  they're going to tax people if they've not produced any offspring by the time they're 40 (for women) and 50 (for men) - a kind of negative child benefit tax. There will be exemptions based on the production of a suitable medical certificate showing inability to have children.

This would be grossly unfair to those of us who have never claimed benefits, saved hard all our lives and wish to start a family aged 60-70.

That policy will never fly.

Will it?

artyboy

snarffie said:

MeteredOut said:

Albermarle said:

masonic said:

Do we have a dedicated TFLS speculation thread yet?

It could be open permanently as if nothing happens in this budget, it will not be long before it all starts again before the next budget.....

I think a "Guess the next rumour thread" would be more interesting than regurgitating the same discussions around previous rumors.

I hear that alongside removing the two child cap on child benefit,  they're going to tax people if they've not produced any offspring by the time they're 40 (for women) and 50 (for men) - a kind of negative child benefit tax. There will be exemptions based on the production of a suitable medical certificate showing inability to have children.

This would be grossly unfair to those of us who have never claimed benefits, saved hard all our lives and wish to start a family aged 60-70.

That policy will never fly.

Will it?

It's "just" possible that this one was a bit tongue in cheek. But honestly, who knows these days. We could find that we have become the main focus group and our every speculative word is being listened to by No.11

Cobbler_tone

artyboy said:

snarffie said:

MeteredOut said:

Albermarle said:

masonic said:

Do we have a dedicated TFLS speculation thread yet?

It could be open permanently as if nothing happens in this budget, it will not be long before it all starts again before the next budget.....

I think a "Guess the next rumour thread" would be more interesting than regurgitating the same discussions around previous rumors.

I hear that alongside removing the two child cap on child benefit,  they're going to tax people if they've not produced any offspring by the time they're 40 (for women) and 50 (for men) - a kind of negative child benefit tax. There will be exemptions based on the production of a suitable medical certificate showing inability to have children.

This would be grossly unfair to those of us who have never claimed benefits, saved hard all our lives and wish to start a family aged 60-70.

That policy will never fly.

Will it?

It's "just" possible that this one was a bit tongue in cheek. 

I think it says a lot about this forum if anyone didn't realise the poster was joking.

DRS1

Cobbler_tone said:

artyboy said:

snarffie said:

MeteredOut said:

Albermarle said:

masonic said:

Do we have a dedicated TFLS speculation thread yet?

It could be open permanently as if nothing happens in this budget, it will not be long before it all starts again before the next budget.....

I think a "Guess the next rumour thread" would be more interesting than regurgitating the same discussions around previous rumors.

I hear that alongside removing the two child cap on child benefit,  they're going to tax people if they've not produced any offspring by the time they're 40 (for women) and 50 (for men) - a kind of negative child benefit tax. There will be exemptions based on the production of a suitable medical certificate showing inability to have children.

This would be grossly unfair to those of us who have never claimed benefits, saved hard all our lives and wish to start a family aged 60-70.

That policy will never fly.

Will it?

It's "just" possible that this one was a bit tongue in cheek. 

I think it says a lot about this forum if anyone didn't realise the poster was joking.

Have you seen this thread?
IHT – unmarried and childless? Discriminatory IHT .. needs reform ! — MoneySavingExpert Forum