Oh Dear

Discussion in 'Bulletin Board' started by arabian_ian, May 25, 2024.

  1. She

    Sheriff Well-Known Member

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  2. She

    Sheriff Well-Known Member

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  3. Gre

    Greybeard Active Member

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    You might want to check, but I don’t believe pension credit is subject to tax.
     
  4. x11barnsley

    x11barnsley Well-Known Member

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    That is correct as far as I know
     
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  5. Shy Talk

    Shy Talk Well-Known Member

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    State Pension is deducted from Personal Allowance so if you have an additional source of income you pay additional tax on that when State Pension rises.
    So State Pension IS subject to tax, through the back door.
     
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  6. x11barnsley

    x11barnsley Well-Known Member

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    Yes
     
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  7. dreamboy3000

    dreamboy3000 Well-Known Member

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  8. Farnham_Red

    Farnham_Red Administrator Staff Member Admin

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    Why does he keep getting a disproportionate amout of air time - always fails to get elected when he stands
    His party - well company actually - has never had an elected MP only got one cos they switched sides
    Compared to the time the greens get or even the lib dems its all out of proportion
     
  9. churtonred

    churtonred Well-Known Member

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  10. winged avenger

    winged avenger Well-Known Member

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    When my state pension goes up,my pit pension is taxed more
     
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  11. Tyk

    Tyketical Masterstroke Well-Known Member

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    You shouldnt have eaten so much avocado toast ;-)
     
  12. arabian_ian

    arabian_ian Well-Known Member

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    I’m in the same boat with my works pension.
    Govt gave us a 10% rise but that only meant I paid more in tax.
    So the 10% rise in income meant only a 5%rise in my pocket.
     
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  13. Gimson&theBarnsleys

    Gimson&theBarnsleys Well-Known Member

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    Thanks both; I'll bear this in mind when sorting out his tax affairs. ( Is it bear or bare?)
     
  14. Gimson&theBarnsleys

    Gimson&theBarnsleys Well-Known Member

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    This. Stop giving him air time.
     
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  15. x11barnsley

    x11barnsley Well-Known Member

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    It’s Behr as in Dani ….. !!!!
     
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  16. cudeth red

    cudeth red Well-Known Member

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    Very true
     
  17. cudeth red

    cudeth red Well-Known Member

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    Ditto
     
  18. Hooky feller

    Hooky feller Well-Known Member

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    That's the trouble with annuity or works pensions mate. Fortunately (for me personally. Others may choose differently and take an annuity) I was able to take mine under the flexi Draw down scheme.
    When the state pension rose I was able to reduce my taxable pot (crystalised) amount to the level of personal allowance. And increased my tax free sum to compensate. I did not take all my available tax free lump sum in one go. (Uncrystalised) it's still not perfect. And I take a risk of it crashing as often it does. (Covid and War in ukraine being examples, recovering over time)
    The risks are most personal pensions nowadays run by employers, are stakeholder schemes and are tied to stocks and shares. ( you can choose your own risk and if you wish you can go down the ethical route choosing to opt out of companies you may not feel comfortable with. Eg Oil. ). So are reliant on the market. No guarantees. (That I'm aware of)
    Another plus. The pots do not die with me. So none of the usual 50% widows reduction. And if we both croak it b4 we are 75. The pots go to next of kin. Tax free. Taxable if we live beyond 75.
     
    Last edited: May 28, 2024
  19. Stephen Dawson

    Stephen Dawson Well-Known Member

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    upload_2024-5-28_23-50-45.png
     
  20. JamDrop

    JamDrop Well-Known Member

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    Sorry it’s from that rag. It is a screenshot though so no extra click revenue.

    IMG_7218.jpeg

    Yesterday, Labour posted a video of a young England player (forgot who now) scoring a goal and then said he would have been on National Service instead. Today, we get this. I mean, I love football, obviously, but do they really think this one exception is the most important one that could exist? Young carers still have to do it, those with full time jobs have to do it, those training to be nurses have to do it, it’s unclear if internationals from the other home nations have to do it, but 18 years old England players apparently won’t.
     
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