Spam & Scams3 mins ago
Work Hard And Provide For Your Retirement........
....and Labour will give it to someone who didn't.
Has this theiving government no shame?
Answers
No best answer has yet been selected by ToraToraTora. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Peter ...I think TTT is missing something very simple here. It's just treating pension assets in the same way as other assets. If it was £1 million pension pot or £1 million in a bank account then if we're going to have IHt it should be the same. If the beneficiary lives off the bank account interest of say 50k pa that would be taxable at 40%. If its a drawdown income of say 50k pa for 25 years thst should be taxable too...especially as it benefitted hugely from pension tax relief at 40%.
I don't see why TTT doesn't get it.
Okay he may be against all IHT but that's a separate issue to this budget change.
1964 - capital gains tax - alot of screaming and howling - all profits from stocks and shares until then were tax free
those were the good old days - Healey " we will tax then until the pips squeak"
SET ( selective emplyment tax) - a bit like VAT on private schools now
and confiscatory taxation was viewed as OK
remember the £20 000 suit - tax in certain areas ( oncome - super tax) could reach 95% so 20000 sixences fives £500 the cost of a decent savile row suit in those days