No change to tax free cash on 26 November

Cus

michaels said:

westv said:

Marcon said:

westv said:

It tells us what we all knew anyway. It was never going to happen.

You mean apart from all those who have rushed to withdraw huge amounts of tax free cash in case...?

I was excluding idiots.

Idiots who thought taking money now and paying a small amount of tax on interest whilst drip feeding it into an ISA was a small price worth paying to protect against the risk of paying 30% or 40% on 156k - there are certainly idiots....

This risk is always there, for every budget going forward. To make that call (either way) in general makes sense, unless driven purely by speculation from recent right wing media scaremongering.  To be swayed by current unsubstantiated rumours could be called idiotic

Marcon

dunstonh said:

It was reported in the Times last Friday.   It took the other outlets longer.  Possibly to allow them to scaremonger more.... oh, cynical me...

Odd that nobody here posted it then.

Albermarle

michaels said:

Yes - but having floated the idea we can all be happy that we are might be 'only' seeing a 2% tax rise on all pension drawdown above the TFLS - phew....

Corrected that for you .
Nothing confirmed so far.

DRS1

Marcon said:

dunstonh said:

It was reported in the Times last Friday.   It took the other outlets longer.  Possibly to allow them to scaremonger more.... oh, cynical me...

Odd that nobody here posted it then.

I think it got mentioned on a speculation thread (about salary sacrifice) and someone asked when we were going to get a stand alone thread on TFLS speculation.  I thought this thread was the result of that question.

poseidon1

Hmmm, couple a posited 2% tax rise with a possible halving  of the  cash ISA limit and falling interest rates ,  a potential  perfect storm brewing for pensioner savers on the near horizon.