Hermit Road
4:28 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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I am Mr Hot-Air after all.
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Coffee
4:23 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Hermit Road 3:52 Mon Oct 12
Perhaps Mrs Road is better renamed Mrs Air?
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Mike Oxsaw
4:23 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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SurfaceAgentX2Zero 3:11 Mon Oct 12
You're attempting to enforce a simplistic generalisation on a word used in a legal technical sense.
An "Increment", in this case, although it does result in an increase in absolute contemporaneous take home pay, as would a simple "pay rise", is a completely different kettle of fish insofar as it's already factored into pay calculations, in the same way a pension is: they're not unexpected and DON'T introduce any additional unanticipated costs.
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Eggbert Nobacon
4:22 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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as you said all the time Corbyn is the leader of the opposition they can pretty much do as they please as they not going to lose a vote
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Prometheus50
4:17 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Hermit
Ok, but then you can submit the taxed sum back into your pension scheme as an additional contribution, enter as such on your tax return and claim relief
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Hermit Road
4:11 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Prometheus. I think they're proposing to raxy contribution though, not my employer's.
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Prometheus50
4:09 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Hermit
If you pay part of your taxable income into a pension scheme, you get tax relief at the base rate ie the government is encouraging you to put that money into savings and that to my knowledge has not changed
But what your employer puts in is not part of your taxable income so therefore is an untaxed perk just like company health insurance, so should be taxed at the base rate
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Hermit Road
3:52 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Even someone who isn't in it for the money still has bills to pay.
Surface. I pay 13.5%, my employer 6.5. A total of 20%, though MD may correct that sum. It's part of my contracted remuneration package which you may think is a perk, I would disagree.
Could I get that elsewhere? Yes. There are many teachers in the private sector who get the same.
Mrs Road works for a large multinational. They have a massive kitchen which provides free snacks and drinks. That's a perk, as is the colossal amount of air miles and Starwood points we accumulate through her travel.
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Prometheus50
3:52 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Well I think the devil is in the detail and since the analogy was made with Gordon Brown, it's worth remembering that was he did was to remove tax credits from pension fund dividends thus as a stroke remove a heft chunk of the overall returns that actuaries relied upon
By contrast, if Osborne is proposing to tax the non contributory portion of your pension scheme, then is is as previously described a tax on a perk rather like private company health insurance which you declare on your tax return
That said I do regard Osborne as only marginally to the right of Gordon Brown and would like to see more focus on reigning back public spending much further
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SurfaceAgentX2Zero
3:49 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Mad Dog - you were complaining about a pay freeze on this thread. Or, at least, you were saying you had to put up with it, even though it wasn't actually anything of the sort.
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Mad Dog
3:42 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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I'm not. I've not complained any of the 5 years.
I'm complaining about the pension hike. After being told there would be no more pension hikes
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Mad Dog
3:41 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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I am NOT a lefty
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Prometheus50
3:40 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Mad Dog
If you are not "in it for the money" and see your role as vocational, why are you complaining about a pay freeze ?
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Prometheus50
3:37 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Hello Kronic
I see your erudite contribution to life continues at the same level
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SurfaceAgentX2Zero
3:33 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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,
His car perk, my car necessary. I hope you never drove it at holidays, weekends or in the evening.
I see you have your own private definition of words. It's something common to lefties.
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,
3:31 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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The perk is something given you that is over and above your remuneration package. It is not something given to do your job that is necessary.
Let's give you an example. Years ago I had a company car and so did the bloke next door to me. My company required me to be mobile 24/7 and this bloke worked 9 to 5 Monday to Friday in the city. His car stayed on his driveway and his wife drove it and he went to work on the train. His car was a perk and mine was vital to my job. See the difference?
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SurfaceAgentX2Zero
3:31 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Kronic - come out of that closet, mate. You seem to be unable to post without including some sort of homsexual fantasy.
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The Kronic
3:29 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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SurfaceAgentX2Zero 3:25
Why do posters try to reason with this little prick? He has fuck all to do in his jobless/worthless life bar post on numerous internet forums spewing his bitter, lonely bile.
And he sucks cock.
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Mad Dog
3:26 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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I teach maths.
Please find a single numerical error in anything I've posted
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SurfaceAgentX2Zero
3:25 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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, 3:20 Mon Oct 12
'Haha, calling something that is part of your contractual remuneration a perk.'
That's the definition of perk, you cock.
'an advantage or something extra, such as money or goods, that you are given because of your job'
I hope to God none of you lot teach English or maths.
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SurfaceAgentX2Zero
3:23 Mon Oct 12
Re: Conservative government plan massive tax hike on pensions.
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Hermit
How much does your employer pay in? Why does your contribution differ from the 6.4% that it used to be? What is the retirement age for you? How much would you have to pay to get similar benefits from a private pension. Can you recommend one? Can you even find one?
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