Budget rumours!
Discussion
tight fart said:
Yesterday I was talking to a rather senior trade union guy, he thinks one of the big things in the budget to raise yet more tax will be the end of tax free savings, ISA's will be taxed!
Any other horrors they might do?
To be fair senior trades union guys tend to know a lot about budgets and economics! Any other horrors they might do?
I also heard that they're going to tax the use of oxygen (to cut down on CO2 production)
tight fart said:
Yesterday I was talking to a rather senior trade union guy, he thinks one of the big things in the budget to raise yet more tax will be the end of tax free savings, ISA's will be taxed!
Any other horrors they might do?
Bet he also claims sunlight was going to be taxed too. Any other horrors they might do?
tight fart said:
Yesterday I was talking to a rather senior trade union guy, he thinks one of the big things in the budget to raise yet more tax will be the end of tax free savings, ISA's will be taxed!
Any other horrors they might do?
There's been a bit of mumbling to the Government from financial institutions about money sat in cash ISAs - they want that money to be in S&S ISAs instead.Any other horrors they might do?
TownIdiot said:
Force economically inactive women into prostitution.
Make those on disability benefits install a machine in their living room that takes the sharp end off knives.
Double vat on pin stripe suits.
It's just the beginning - four more years to go
It is hard to argue with that one to be honest...Make those on disability benefits install a machine in their living room that takes the sharp end off knives.
Double vat on pin stripe suits.
It's just the beginning - four more years to go
tight fart said:
Yesterday I was talking to a rather senior trade union guy, he thinks one of the big things in the budget to raise yet more tax will be the end of tax free savings, ISA's will be taxed!
Any other horrors they might do?
Zero chance of this happening. ISAs are too popular a product and are well embedded in lots of people’s personal finances. Any other horrors they might do?
Political risks of touching that are massive.
No point worrying about this sort of thing when it comes to personal finances. Just be diversified (ie. Not all in on ISAs, not all in on pensions. Have a mix instead etc)
PM3 said:
....and on that theme , we have to consider they will remove the 25% tax free pension lump sum .
The only thing that can save that axe from falling , is that it would also hit the tax payer funded pension cronies too .
If you axe that the tax advantages for a basic rate taxpayer on a relief at source scheme are zero. Can’t see it happening. The only thing that can save that axe from falling , is that it would also hit the tax payer funded pension cronies too .
PM3 said:
....and on that theme , we have to consider they will remove the 25% tax free pension lump sum .
The only thing that can save that axe from falling , is that it would also hit the tax payer funded pension cronies too .
If you're referring to the Public Sector DB pension schemes their TFLS isn't 25% The only thing that can save that axe from falling , is that it would also hit the tax payer funded pension cronies too .
tight fart said:
Yesterday I was talking to a rather senior trade union guy, he thinks one of the big things in the budget to raise yet more tax will be the end of tax free savings, ISA's will be taxed!
Any other horrors they might do?
Would have thought it more likely they'd reduce the ISA annual allowance to £15K or something than scrap it entirely. Any other horrors they might do?
tebudgie smuggler said:
Would have thought it more likely they'd reduce the ISA annual allowance to £15K or something than scrap it entirely.
I think they'd be more likely to make an income based allowance therefore encouraging people earning less to save and therefor benefit from a tax break and higher rate tax payers benefit less or not at all over X amount.Find me a developed country that has such a generous scheme especially in Europe?
Enough said.
However, I will add the below.
A married couple can have lets say an average amount of investable wealth of £200,000 outside of taxation with 5 years.
I work in fnancial planning and it's a massive tax giveaway imo.
Enough said.
However, I will add the below.
A married couple can have lets say an average amount of investable wealth of £200,000 outside of taxation with 5 years.
I work in fnancial planning and it's a massive tax giveaway imo.
indestructible focus said:
Find me a developed country that has such a generous scheme especially in Europe?
Enough said.
However, I will add the below.
A married couple can have lets say an average amount of investable wealth of £200,000 outside of taxation with 5 years.
I work in fnancial planning and it's a massive tax giveaway imo.
It’s not a tax giveaway, it’s simply not applying additional taxes on income that has already been taxed once.Enough said.
However, I will add the below.
A married couple can have lets say an average amount of investable wealth of £200,000 outside of taxation with 5 years.
I work in fnancial planning and it's a massive tax giveaway imo.
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