---Nemo---
Striker
Young people actively advocating to forgo their potential benefits and embrace not being a burden in old age. That's real USA frontier style independence.
What's up next, voluntary euthanasia for the benefit of all?
-
The forum upgrades are now largely complete.
Please read this thread for more details.
New user registrations are currently disabled.
Discounts for OAPs
- Thread starter chunkyshanhawk53
- Start date
What's up next, voluntary euthanasia for the benefit of all?
John Steed
Striker
A pensioner on state pension with just a small private pension will now pay tax. The problem is that personal allowances are not going up and won't be until 2031. You don't pay tax on the state pension tax is removed from your private pension.
We could soon have a situation where a pensioner with no private pension will have to pay tax on that very basic amount of money. They will have to fill a tax return out at the end of the tax year. I can see that going well.
As the cost of living has soared any increase in state pension and workers wages is reduced as more tax is taken. Allowances should go up every year but the fuckers we vote in don't want anyone to have anything other than a very basic living standard.
Then they wondered why voters protested by voting in the council elections for an extreme party like reform.
People are sick of the two main parties pissing on those st the bottom of the pile. Like pensioners and lower paid workers.
BiG
Winger
BREAKING NEWS!!!
I booked my ‘Senior Citizens Dry Cut’ at the local barbers online this morning and was discounted £2 on the cost. As I’m follicularly challenged, it’ll only take about half of the allotted 25 minutes, so the lass who does it can have a coffee after I’m gone. We usually chat about my multiple (free prescription) medication side effects while she’s shaving my ears and eyebrows anyway like.
Point is: on the website it says that the discount is for the online bit. Presumably it saves the hassle of taking the phone calls.
But I’d like to think it’s cheaper anyway cos of the ‘Senior Citizen’ bit. Because that would appear to piss some people off.
I booked my ‘Senior Citizens Dry Cut’ at the local barbers online this morning and was discounted £2 on the cost. As I’m follicularly challenged, it’ll only take about half of the allotted 25 minutes, so the lass who does it can have a coffee after I’m gone. We usually chat about my multiple (free prescription) medication side effects while she’s shaving my ears and eyebrows anyway like.
Point is: on the website it says that the discount is for the online bit. Presumably it saves the hassle of taking the phone calls.
But I’d like to think it’s cheaper anyway cos of the ‘Senior Citizen’ bit. Because that would appear to piss some people off.
Tax is done automatically for most pensionners. Drawdowns and annuities and State pensions are all reported to HMRC (and I think most savings interest is as well) so no need to fill any self assessment forms.
DaveH
Striker
But what about me me me (while I’m stamping my foot)?Guilty as charged. Just on the boat from Westminster to Greenwich. Wife and I got 50% discount for oap and cos we showed bus passes. But hang on , we also got a discounted rate for one grandson being a student and the other being a junior at 15yr old. @Frijj have it.
Guilty as charged. Just on the boat from Westminster to Greenwich. Wife and I got 50% discount for oap and cos we showed bus passes. But hang on , we also got a discounted rate for one grandson being a student and the other being a junior at 15yr old. @Frijj have it.
If I knew who you were maybe I’d care
John Steed
Striker
That's why I said a pensioner with no private income could come into paying tax on his state pension. The state pension isn't taxed at source and the only way to pay will be an end of year tax assessment. Or they increase personal allowances.
BiG
Winger
What’s the point of taxing the state pension? It would only add a cost related to administration. The better way, if you wanted to just give pensioners less money and save a bit for the exchequer, would simply be to reduce all pensions by a certain percentage above the taxable limit. In that way you’d… no hang on… the state pension amounts don’t take anybody above the tax threshold do they? I mean I get the maximum. I paid NI for 50 years, which is the method used to calculate the amount. And I don’t get above £12500 a year in my state pension. Which is the tax threshold. So it’s not taxable.
So. Maybe it would be better and easier to just tax the additional pensions that a pensioner draws down to supplement the state pension.
What’s that you say? That already happens? So it does. I recall my annual tax statements telling me that and not bothering to calculate how much of any increase I was gonna get in favour of waiting to see what the pittance (exaggeration) would be after tax is paid.
So maybe just carry on.
It’s almost as if people sometimes don’t know what they’re talking about isn’t it?
Last edited:
John Steed
Striker
I'm not sure what you've said there.
But the state pension is now so close to the standard personal allowance that an increase in the state pension could see it being taxed.
If a pensioner has no other income they will have to tax his state pension. They don't tax that at source so a pensioner will have to fill in a tax return.
If the pensioner has a private pension they tax that. So you will pay more tax on your private pensions as the state pension increases.
I hope that explains it ok? From someone who you think doesn't know what he's talking about.
Sad very sad , a bitter life is no life.
BiG
Winger
I didn't say that you didn't know what you're talking about. And you're actually saying what I'm saying - except not so sarcastically or long winded. You really need to up your game on that.
What I thought I was responding to was the apparent assertion, by some, that the State Pension should be taxed now. And my response was that any amount that takes the individual above the tax threshold is currently taxed. So that's why taxing the State Pension isn't relevant.
Digression: Some of that income has already been taxed. And yes I know that it's been pointed out that pensions contributions in the workplace are not taxed at source. But pension pots don't always come from workplace pensions. Funds that accumulate from savings from NET income and added to the pot when various pensions are consolidate will have already been taxed surely?
But taxation of state pensions isnt a current relevancy. Nor may it ever be. Tax thresholds move too.
Again I'm confused: Is the debate that it's unfair that 'yeah ok pensioners above the tax threshold pay tax already... but what if the state pension goes up... that won't be taxed? ... except for all the pensioners whose private pensions take them above any threshold anyway... or... what?
And furthermore are they saying that it's really unfair that a pensioner who's reliant entirely on state pension won't at some future point that hasn't occurred, not get taxed AND might get £2 off a haircut or a cheap doughnut?
It's obvious that I'm not entirely sure what I'm talking about myself, let alone anyone else, isn't it?
Last edited:
Mr Redknapp
Striker
Free mint chocolate biscuits for over 65
Viscounts for OAPs
Viscounts for OAPs
John Steed
Striker
"But taxation of state pensions isnt a current relevancy. Nor may it ever be. Tax thresholds move too."
It could happen next April. Those tax thresholds are not going to be increased till 2031.
The state pension is currently only just above the personal allowance. So if a pensioner has no other income to tax he will have to pay it from his state pension.
If the state pension goes up next year by more than about 23 quid a year you're paying tax on it.
So to say it isn't relevant and will never happen is wrong. It's happening very soon.
You personally will just pay more tax on your private pensions. A pensioner who only has the state pension is going to be filling in a tax return.
Unless they introduce a new tax code for pensioners who only have the state pension, that is. That won't happen though. This government will want every penny.
It could happen next April. Those tax thresholds are not going to be increased till 2031.
The state pension is currently only just above the personal allowance. So if a pensioner has no other income to tax he will have to pay it from his state pension.
If the state pension goes up next year by more than about 23 quid a year you're paying tax on it.
So to say it isn't relevant and will never happen is wrong. It's happening very soon.
You personally will just pay more tax on your private pensions. A pensioner who only has the state pension is going to be filling in a tax return.
Unless they introduce a new tax code for pensioners who only have the state pension, that is. That won't happen though. This government will want every penny.
Not as bitter as someone on a day out whose first thought is “this bloke on the internet will hate this”
SurreyMackem
Striker
I read somewhere that:-
"The government has indicated that pensioners whose only income is the State Pension may be protected from actually having to pay tax once that happens"
John Steed
Striker
Good. It's bloody ridiculous to be paying income tax when you live on that pathetic amount of money.
Big Bellyingham
Central Defender
Wowza -you have lit the touch paper -now stand back …
Though the Government are now saying our pensions are in fact also a benefit and should not be seen as an expectation ?( despite paying in as requested by Governments for about 50 years of full working life ?)
Only recently the wording has changed to “benefit”-cannot see why they’ve done this
