Potential capping of Salary Sacrifice (speculation)?

artyboy

Cobbler_tone said:

Qyburn said:

By the way, how do people pay for their holidays by SS?

Probably terminology. Purchase additional annual leave via SS.

Exactly that, forego some pay for an extra week of holiday entitlement. Pretty common wherever I've worked. 

Clearly not something that there could be any justification for loading NI on to - paying NI for working is one thing, but paying it for not working is rather different!

michaels

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.

Cobbler_tone

I think your TFLS will be OK and you’re forgetting the good stuff like the removal of the two child benefit cap. 

HedgehogRulez

I only have 2 kids….

artyboy

Cobbler_tone said:

I think your TFLS will be OK and you’re forgetting the good stuff like the removal of the two child benefit cap. 

I had a word with Mrs Arty about that one but she wasn't too keen.

Cobbler_tone

artyboy said:

Cobbler_tone said:

I think your TFLS will be OK and you’re forgetting the good stuff like the removal of the two child benefit cap. 

I had a word with Mrs Arty about that one but she wasn't too keen.

I took that out of the equation 15 years ago 

Cobbler_tone

I think this one will be filed as a ‘levelling down’ budget, although middle earners have done some heavy lifting for a number of years. I’m sure it won’t be as disastrous as some are painting.

Albermarle

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. 

michaels

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....

BlackKnightMonty

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