Sounds about right!

[sir.prize]

So working people receiving low incomes will get larger tax allowances.

So retired people receiving low incomes will not get larger tax allowances.

Thank you Mr Osborne.

[Old_Geezer]

Best wait until the BBC newsite does a, "what does it mean for you", page, and then you can see what you lost this time.

[sunny-dave]

Depends on your birth date crafty :

"From April 2013, ARAs will no longer be available, except to those born on or before 5 April 1948"

[craft1948]

Bugger dave..................I was born in August.

[mike11111]

Those born before April 1948 will have their allowances frozen so in a short while it will disappear as the general allowance catches up. I was born in 1949 but I don't think I'm losing out; it's just that working people on low incomes will be getting the extra allowance that pensioners already have.

[sunny-dave]

So if you are born before 5/4/48, and your pension is under £25,000, you will get the ARA £10,500 allowance - born after you will get the standard allowance £9,205. A difference of £260 net per year in extra tax paid.

[sunny-dave]

Working people on all incomes up to £100,000 actually mike

[mike11111]

At least he hasn't touched the free bus pass, prescriptions or cut the winter fuel allowance any more. Of course, that would have been political suicide. Any party which alienates the grey vote is doomed.

[DTCwordfan]

until they bring it up in line....2013 or 14 as they need to close this one before their erection.

[DTCwordfan]

ooops - not much difference though.

[sir.prize]

Prescriptions went up in February - as they do every year with hardly any publicity.

[Davethedog]

So lets see I get to work an extra year and lose any benifit from my pension?

I ask this, who is more likely to be paying tax at pension age? I would suggest older Tory voters possibly an error there.

By the by those that have an income of £5million will be £420,000 a year better off. Were all in it together

[Quizmonster]

Nibble, just for you, the following were the words of Reginald Maudling, the departing TORY chancellor in 1964, to his Labour successor...

"Good luck, old cock.... Sorry to leave it in such a mess."

So the near-identical Labour comment you draw attention to from the time of the 2010 election was merely a copy of that, though perhaps slightly more polite!

[chaptazbru]

I've just read in Mail Online that five million pensioners will lose out by £260 per annum by a £3bn raid on pensioners tax allowance. What has this government got against pensioners??? Does it just want them all to die !

[sir.prize]

Davethedog - lots of pensioners pay tax, even on incomes of less than £12,000 a year.

[chaptazbru]

My Dad pays tax on his pension and my Grandma used to as well. I have pensioner friends and they pay tax too.

[sir.prize]

So do the increased allowances announced in the budget apply to pensioners as well as the lower paid workers?

[chaptazbru]

If you're asking me sir.prize, I don't know. It's all greek to me I'm afraid. I tend to just wait and see - sorry !

[sir.prize]

NOW WE KNOW: Today’s pensioners will fail to see their tax-free allowance rise; instead it stays frozen. Worse off still is anyone aged 62 or 63 and fast-approaching retirement. When they retire they will be taxed at the same rate as any other taxpayer. What this means is that pensioners will pay more tax on a greater proportion of their income.

[jno]

http://whotalking.com/twitter/%23grannytax

[rov1100]

Do what the big boys do. Its not your state pension that's taxed but any additional income from other investments. So if possible put these in your spouses name as they will have separate tax allowances and are often unused.