Latest Moan From You and Me 2024

There lies the problem, the max state pension is only 1067.6 below the tax allowance per year.

 

Did you all honestly think things would be any different with Labour in power? The parties might just as well permanently merge under one name (I don't mean coalition) and save us some money on the hype leading up to elections. It doesn't make any difference who runs the country, nothing will change for the better.

 

The Tories wanted to introduce a new Triple-locked personal allowance for pensioners so that it would match the increase in the state pension. I presume that won't happen now.

 

I would wait and see as the Tories well knew there is a problem with freezing the lower tax allowance. As much money as it rakes in for the Gov coffers when it goes over the pension amount they have no way to collect any tax other than people filling in tax forms.... That will itself cost money and cause a hell of a lot of trouble for some very old people. I suspect the current government might pinch the Tory idea of increasing the allowance for pensioners.

 

HMRC would write to the taxpayer after the tax year end to tell them they have to pay some tax. No need to fill in a tax return.

 

It matters little, my understanding is the tax return is how they would have to do it, either way that's a lot of work/money in admin and dealing with people 90+. They don't collect tax from pensioners , they get companies paying their private pensions to do it for them, which is way cheaper... It's not going to happen and either next budget or the one after it will be sorted (pinched).

 

Form P800 - hubby used to get them. Or a Simple Assessment letter.

 

Some commentators - particularly those on the left - consider Starmer to be ruthless.

Others seem to suggest Labour are too soft, too weak or indecisive.

Those two things can't both be true at the same time.

Which suggests they're achieving something of a correct balance, for now. You can't please everyone, after all.

 

I wish I had all your optimism that at any time soon the state pension will actually exceed the tax threshold.
If they cant afford a one off payment of £200 a year I don't forsee any pension rises apart from pennies.

 

I used to get those letters, usually about 2 yrs late which came as a shock.
I don't get them anymore as tax seems to be paid at source now days.

 

Maybe not. But they will happily fine anyone, even if they owe no tax. They will go hell for leather after those who owe pennies as it is easy to do because all the info is in front of them. The new rules allowing the DWP full access to every pensioner's bank accounts will make older people easier to chase than working people.

It is the same with council tax. The prosecutions for non-payment are against the poor, never against absent foreign owners who have high-end empty properties. Same with TV licences ... and so on.

 

Ah, but I think they can. Ruthless with ordinary people, soft on the wealthy.

The whole Westminster system stinks frankly. A gov should be there to enact policies people, not to impose agendas, run things into the ground, and favour some groups over others. Dream on, eh?