UK General Election 2024 #2

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Bungalo

Bungalo

Moley1 said:
If anyone still isn’t convinced that Nigel Farage isn’t a nasty racist and misogynist scumbag, this might help make up your mind

Do we all know that Starmer is going to tax pensions? Pensions are already taxed as more and more pensioners are moving into the tax bracket thanks to the Tory freezing of the tax bands.
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You are referring to the taxing of pension incom, indeed this has always been taxable income should somebody have used up their personal allowance.

I believe that people are referring to taxing people’s pension pots as they are accumulating through one’s working life.
 
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L

lilyannrose

So it seems my vote registration got fucked up when I moved last year even though my mum registered us both asap at the time with the new address. They also fucked up mum's vote as well as they insisted, when she spoke to them about mine the other day, that she was not registered... even though they'd sent her a polling card to confirm proof of new address. The person mum spoke to was really rude and kept trying to insist mum didn't understand what she was doing when it was clearly the other way around.

I'd write to our MP to complain but he's tory and has been in his seat forever, and is probably safe this time too so I feel it would be a waste of time.
 
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Blond3g1rl

Blond3g1rl

It’s not pension income which will see much change. It will be the reduction of Annual Allowance, taxing of pension pots after death, some other changes to the abolition of LTA etc
 
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Bungalo

Bungalo

pommobear said:
Why shouldn't pensions be taxed, anyway?
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Nobody has said pension income should not be taxed, it is taxed over and above personal allowance.

I initially thought the talk was about a Gordon Brown style pension pot raid. But now I think it is also because Starmer said no tax increases for working people, that people think he is planning to hammer pensioners. I am not sure that is what he meant myself.
 
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kev1974

kev1974

pommobear said:
Why shouldn't pensions be taxed, anyway?
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They already are if your annual income from pensions is above the standard income tax thresholds, or you take out more than the 25% lump sum.

Some talk that Labour might apply National Insurance to pension income, which seems a bit harsh as most people will have already paid national insurance on the money that went into the pension at the time that they earned it. We'll see.
 
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P

pommobear

kev1974 said:
They already are if your annual income from pensions is above the standard income tax thresholds, or you take out more than the 25% lump sum.

Some talk that Labour might apply National Insurance to pension income, which seems a bit harsh as most people will have already paid national insurance on the money that went into the pension at the time that they earned it. We'll see.
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You don't pay NI on any pension contributions which come via salary sacrifice schemes.

I don't see any good reason why people on high incomes shouldn't be appropriately taxed, whether they're pensioners or not.
 
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Bungalo

Bungalo

pommobear said:
You don't pay NI on any pension contributions which come via salary sacrifice schemes.

I don't see any good reason why people on high incomes shouldn't be appropriately taxed, whether they're pensioners or not.
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That is not what previous poster was saying.

They are pointing out that pension *income* currently is not subject to NI. This is because NI is in theory a saving for future pension, so they have already paid it on their income during their working life and their pension is now receiving back What they previously saved / contributed.

Again, nobody has said people on high incomes should not pay tax, they should and do at an increasing scale.
 
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veronica71

veronica71

I don't know how to start a new thread but would be interesting to have a poll at the start to see if people have changed who they will vote for from the start of this thread
 
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Happy Lady

Happy Lady

pommobear said:
Why shouldn't pensions be taxed, anyway?
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They already are, but when we draw drawn then they are taxed again. Now it appears that any pensions/investments left as inheritance could be taxed yet again. Jeremy Hunt has promised not to touch this, but nobody seems interested in asking Starmer the question, and making him answer. So many people with pension savings are concerned about this.
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Blond3g1rl said:
It’s not pension income which will see much change. It will be the reduction of Annual Allowance, taxing of pension pots after death, some other changes to the abolition of LTA etc
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Thank you, much more articulate than my rambling.
 
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pommobear

I'm in favour of inheritance being taxed. It should be. There's a huge amount of entitlement when it comes to inheritance IMO.
 
Blond3g1rl

Blond3g1rl

pommobear said:
I'm in favour of inheritance being taxed. It should be. There's a huge amount of entitlement when it comes to inheritance IMO.
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So you’re happy for Bob ‘working man’ Builders wife to pay tax on an inherited pension pot because he died shortly into his retirement and has left a pension pot which he worked hard to build up. Currently this would be tax free
 
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D

DizzyIsHe?

This will be my eighth general election I've voted in. I wrote the majorities of the last seven.
'97:197 '01:167 '05:66 '10:78(Coalition) '15:12 '17:5 '19:80.
So if Labour get 200+ majority I'd be so up for that! Most power given to a party since Churchill (242 majority). Even Thatcher only got as much as 141 majority!
Well, if I went on about majorities in the other threads, they wouldn't be so welcoming!
I'd left School in 91. Too young to vote in 1992 elections.
How many elections have you had? I took part in all. And three times won.
 
Bungalo

Bungalo

I have been eligible since 1992.

There is no need for a 200 majority and it verges into the territory of getting concerning, it is good for democracy to have a strong opposition.
 
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