@tomtweettime @paullewismoney To fund their retirement? I dunno, just a thought…
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nearlytoolate
18.8K posts
@paullewismoney Is it double taxation on them or not? Currently no IHT but taxed at marginal rate when accessing.
Or is she charging 40% IHT PLUS tax at marginal rate upon accessing? It surely cannot be, why would anyone save to pay 64% tax?!
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The government is removing the opportunity for individuals to use pensions as a vehicle for inheritance tax planning by bringing unspent pots into the scope of inheritance tax from April 2027 affecting 8% of estates it says
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@spicymutant @paullewismoney Need to see detail. Presumably it won’t replace the income tax liability which applies to all sizes of inherited pensions
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@Finumus1 And is randomly available to employees depending who they happen to work for
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@Finumus1 Only for wealthy people. For folk of modest means it is an extra bit of tax relief on your pension that probably mostly saves your employer rather than you.
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@nearlytoolate Yeah. Especially complicated by getting an extra 2% NI relief on salary sacrifice now!
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@Pecunious365 @Finumus1 @TheReluctantIn2 There is no IHT between spouses of course. So I’m not sure it matters who holds the pension assets.
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@Finumus1 @TheReluctantIn2 Snap really fucked things up for me and spouse is lower rate tax payer so no way to try to repair the damage efficiently by building a pot for them.
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@nickyl_ga @alexwickham April. Why the bigger hike for smaller gains though? Seems perverse
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Higher rate of CGT hiked to 24% from 20%
Lower rate of CGT hiked to 18% from 10%
bloomberg.com/news/live-blog…
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If I heard @RachelReevesMP correctly, there's no overnight change to capital gains tax, and this will take effect from 6/4/25. Whilst it's only a slight 4% increase to CGT, I expect there will be a rush of transactions before the end of the tax year - this will give a big enough boost to CGT receipts #AutumnBudget
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Oooh - Reeves says fuel duty increase wrong while people worried about cost of living - so she spends £ 3bn to maintain level... a v small increase would have easily paid to maintain bus fare cap...#Budget2024
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@DavidVeevers1 Why are you still here? I can’t find you where the sky is blue and the air is better…
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@PippaCrerar Can’t find you where the sky is blue and the air is clear. Come on over!
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Lower inflation last month - driven by sharp fall in transport costs - means that working-age benefits will go up by lower rate next Spring (as CPI rate for Sept is used to uprate them following financial year).
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NEW: UK inflation falls to 1.7%, the lowest rate in three-and-a half years. While higher prices are baked in, it raises hopes of interest rate cut next month.
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@BethRigby Have you tried the place where the sky is blue? Can’t find you there.
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Inflation falls more than expected to 1.7 per cent in September to a three-year low. Opens door to interest rate cuts before end of the year: inflation target comes back under BoE target for first time since April 2021
Sky News@SkyNews
BREAKING: UK inflation has eased to 1.7%, dipping well below the Bank of England target for the first time since 2021, according to the Office for National Statistics 🔗 Read more trib.al/Ri63YQk
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@paullewismoney Have you tried the place where the sky is blue? Why are you still in Musk’s place? (I know I’m an anonymous no one, but I’m trying to do my bit)
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Wes Streeting joins the anti-red tape party. Damaging the NHS, damaging business. In fact getting rid of it might even be the silver bullet we need! Next he’ll be calling for blue sky thinking!,
Sophy Ridge@SophyRidgeSky
Me: Do you think there’s too much regulation in the NHS? Wes Streeting: “I do & I also think there's far too much regulation in the economy… where regulation is standing in the way of success we will simplify it & where it's unnecessary, get rid of it”
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@Cheftastic1975 @jongaunt @albieamankona @ROLEX Well, no, it’s paid for by current workers. Entitlement is accrued in various ways. But the point is the extra few hundred quid is an unnecessary complexity
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@nearlytoolate @jongaunt @albieamankona @ROLEX Which to be fair is paid for by a lifetime of contributions to national insurance and should remain untouched. Although by the time I get to mine am sure they will have made it 70 years old, just another thing our generation will get screwed on
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Tell me my party’s social media team did not film a pensioner losing the winter fuel allowance wearing a solid gold @ROLEX?
Conservatives@Conservatives
This winter, pensioners will have to choose between heating and eating. And that’s on Keir Starmer.
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@Cheftastic1975 @jongaunt @albieamankona @ROLEX Although every pensioner gets chucked £10k a year (yes I know that’s a bit of a generalisation)
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@jongaunt @nearlytoolate @albieamankona @ROLEX Which was my original point @jongaunt. A policy where every pensioner gets chucked £300 a year is not acceptable.
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@otokinibriggs @LateefSaka Yes exactly. Downsizing anyone?
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@LateefSaka And the house looks massive. It must cost a fortune to heat up
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They should have picked people from the hood because how am I supposed to take this seriously when I’ve seen a Rolex and Jade vase in the first 30 seconds
Conservatives@Conservatives
This winter, pensioners will have to choose between heating and eating. And that’s on Keir Starmer.
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@nearlytoolate @MikeBrewerEcon They can, of course, exempt public sector pensions from whatever they do to private sector pensions.
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Supposedly the govt has decided not to start taxing pension contributions, because it might alienate civil servants.
on.ft.com/3N7Pc0E
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@Samfr I used to be in favour but that was when we vaguely had a functioning health and social care system. Now I can see more risks. But I’m not sure why general public is more trusting when it would put the poor and marginalised most at risk (imo)
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Perhaps it's because elites who oppose don't see it as liberalisation so much as a threat to other rights.
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One interesting thing about this issue is it's the only liberalisation of rights that I can think of where elites - of left, centre and right - are more opposed than the general public who tend to support it (regularly gets 65%-75% support in polls).
I'm not entirely sure why.
Sam Freedman@Samfr
I want to see what the assisted dying bill actually says but I'm highly sceptical that adequate safeguards can be put in place given the state of our welfare / healthcare systems.
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