The Poolie Bunker

Anyone who started claiming the new State Pension after 2016 could now be paying income tax on it as the tax threshold is £12570. Reeves could have raised that to make up for abolishing the WFA.
Over and above if you have a private pension that will be taxed at a straight 20% therefore you are now paying back the tax relief you received on your original contributions.

If you've got a private pension it might be worth looking to get into it now, the way things are heading.

Especially if you're not working or earning beneath the tax threshold.

I think it would be better to leave it for the time being as you might get a shock how the value has diminished, the Great Don as some call him on here has collapsed the world economy with his policies.

with the few add ons i have on my state pension i should have been paying tax for the last 4 years now. have not paid a penny yet until i get a summons and guess there are many others in a similar situation. would not mind as much if like all my worklife it was took out weekly at source and not get a surprise bill after i have spent it all.

I assume your State Pension is more than the £12570 threshold then , not asking how much though, that’s your business ? I got an email in February advising me of my new tax code, if they catch up they will add interest and fine you for late payment, happened to me when I was late doing my tax returns when I was working. Wether you like it or not they the HMRC will say ignorance is not an excuse irrespective its their fault.

Living on the bread line in your old age?..got a little bit tucked away.?.Then we'll have it!!!! . cackle.. it's their new motto.

thanks for the info but again why cannot they take it off you from source like PAYE from another government department. thats how the vast majority of people paid their tax and expect that to be the norm once retiring without a private pension which as far as i know do get tax taken off that at source before they receive it. just imagine the chaos if those on PAYE working had a yearly tax bill instead to pay and actually getting it off folks after its all spent and gone which would be the case for many.

"thanks for the info but again why cannot they take it off you from source like PAYE from another government department. thats how the vast majority of people paid their tax and expect that to be the norm once retiring without a private pension which as far as i know do get tax taken off that at source before they receive it. just imagine the chaos if those on PAYE working had a yearly tax bill instead to pay and actually getting it off folks after its all spent and gone which would be the case for many."

Because THEY hate pensioners, THEY hate British culture, THEY hate Freedom of Speech, THEY hate Legal Protests.
And THEY know THEY will never be in power again and will NEVER be held accountable.

PureBred Bastards!

My tax allowance is minus whatever on my SP,what the HMRC do is then transfer that minus amount to my PP and it reduces the amount I receive.ever month.

If you only receive the SP and it is over the tax threshold after 52 weeks HMRC will inform you what tax you owe and how to pay it.
After your first year of getting the State Pension, you'll pay tax based on 52 weeks of payments each year.
Shocking considering the SP is no where near what the minimum wage is.

never could understand why the threshold has never risen as it means more who need every penny of what they earn get taxed. no wonder there are those who either avoid work at all costs or join the black economy thats indirectly pushing the cashless society onto us. know governments need money and without getting rid of any tax loophole payment of tax could be put at 10p in the pound to a certain level and increase it by 1 or 2p after reaching that. thought it was all about being kind now to others. seems it depends who they are and what the cost is.

They could have raised the tax threshold for pensioners to counter the scrapping of the WFA

thing is those who make the laws will be thinking of their parents and grandparents who are more likely be part of the saga cruise brigade rather then a big number who scrape through on a weekly basis. there relatives can afford it .

I liberated one of mine just in time, but yes you're right - all things financial (thanks to you know who) are rocky at present.

But Uncle Starmer didn’t did he….and won’t.

Oh your back Snowy and one of your first comments was about Starmer, now am I surprised ? I was unaware it was frozen to 2028 by the previous government, basically a back door tax increase.

Unfrozen in 28.
Then more in 29 but only if your demented enuf to vote us back in.
Starmers words not mine.

The Labour Party - making poor people poorer.

think it will be just part of the big give away that those with short memories will be quick to lap it all up ad give em another 5 years.

You don’t know what’s round the corner, in 4 Years a lot could change, who predicted Covid or the Ukraine Russian conflict. A lot of infighting in the Reform Party, the Tories will regroup they always do.

or even a proper socialist party being set up as a left wing version of reform.

You could always join George Galloways Party, Workers Party of Great Britain or Arthur Scargill Socialist Labour Party. founded by him but now led by Jim McDaid. Galloway has some interesting views and guests on his YouTube channel.

As someone who tries to get a balanced opinion - and usually fails to get one - I visit newspaper sites from The Guardian to The Daily Mail, and watch YouTube videos from a similar spectrum.

Due to my gluttony for punishment, I have watched some of Galloway's stuff and do find that particular basket case to be quite funny and entertaining despite him being a complete nutjob.

Mind the baldy bastard's fooling no-one wearing that daft hat...!

Or join…. Starmer's New Tory and Progressive Capitalist Puritan Party…..@ Keeeer Thatchah , Dosh Towers, Dead end Street, Toytown UK.

To get back on topic. If the tax threshold has been frozen so long that it's now likely to hit the countries state pension payments, it is in effect a pension cut.

State gives you "X" to which you are entitled - however state removes "Y" from it to make it "Z"

Which begs the question, why not just pay out "Z" in the first place?

It's such a blatant con, so controversial and unfair that I predict it will never happen.

No party is prepared to take the risk of removing the triple lock on pensions given that large numbers of pensioners vote. But many think the triple lock is too generous. So by not lifting the tax threshold they are effectively reducing the value of the triple lock. All smoke and mirrors in the belief that pensioners can't work out what's going on.

Labour party are killing this country in ways no one expected. Tories started this attack on the people and passed the baton to Labour. This lot are going for the kill on behalf of the globalists. Forget the U.K. it's a place that time will forget going forward. But hey I guarantee a few will still back this lot right to the finishing line....finishing of our U.K. foooking disgusting.

Couldn’t agree more Leggie the U.K. is f***ed, judging by how many voted at the last GE many are not bothered, I am all right attitude f**k the rest.

WOW are we finally friends then Jamie. It's either a wind up or you really do agree. I will speak to my businesses partner " Our Kev " and ask him if I can get you added to the V.I.P. list for the end of season garden party. It will be safe you can sit with your new fwend Mr. Mutters.

He is more than welcome.
But I'm not employing Xtra security.
Our kid will warn him first then let Mutley of his lead

I've been told by a clever person that at some point the Triple Lock will have to be altered, it's something to do with demographics, there simply won't be enough people in work to pay in so that that others can draw out. At some point one of our political parties will have to do something.

It's absolute stupid to give with one hand and take with another though.

Dad "Here we go little Timmy, here's your pocket money for the week, it's £10 less deductions of £2"

Little Timmy "why not just give me eight fucking pounds then, ya fuckin con artist"

its even worse for little timmy when he has spent the tenner and cannot give the 2 quid back which i,ll guess might be happening across the country. people have never expected to pay tax on a state pension especially if thats all they get as its never happene before in the history of it. quite different when you are working you expect it and is taken off at source before getting your hands on it. feel we are going to hear a lot about pensioners being prosecuted and frightened into early deaths for non payment of income tax in the next 12 months and be a big issue helping those doing youtube videos richer.

The State Pension is classed as a benefit, it should be classed as an entitlement as the majority have paid contributions towards it. If it’s a benefit why is it not means tested ? I should be careful what I say as in Australia I believe it is and they take into account the value of your property as part of your savings.

plenty of the young uns in this country would love that as it seems to wind them up that pensioners own a home and they cannot get on the ladder to do the same. it aint the fault of a single pensioer that house prices have risen to a stupid level but they get some of the blame for it.

The people who control us are other worldly with little or no experience of real life, they think only in the terms of their narrow band of perception and tell us they know what we want…then shit all over you.
Manifesto, what manifesto….?

I don't like this generation wars thing that seems to be about - but it's worth pointing out that many older people went without many things to enable them to buy a house.

I include (in no particular order) mobile phones/normal phones/a car/holidays/nights out/tattoos/loads of clothes/computers/avocado pears/going to university/etc.....

Oh, and most of us left school at 16.

Exactly, when I bought our matrimonial first house a new build no central heating included, we rented a TV from Radio Rentals, had a telephone and an old Mk3 Cortina which didn’t like the cold winters, that was the extend of our ‘luxuries’

to be fair we might have been the same when we were younger. you cannot wish for things that did not exist. in some ways the modern generation have been conned for big business profits to have those things you mention and want all or most of it they can get. we were still happy with our week or two weeks at somewhere different at the coast but would we have been if it was seen as some second class holiday thats now not one but a staycation.

With all the various social media sites which includes adverts for all the luxuries’ which are in the younger generation faces, all we got was adverts on the TV. Booking a holiday had to done at a travel agent.I never remember having any bank cards either although we used to get ‘interest’ free credit from Binns. They give store and credit cards out like confetti nowadays encouraging debt.

tbh my parents were pretty middle class and we weren't short, but looking back we simply didn't have many of todays must haves. It was all very frugal by todays standards, for instance me and my sister would get shouted at for leaving a light on!!

I was never jealous of older people when I was younger though, this is just conflict exaggerated by the internet.

That's a bit luxurious though! I failed my driving test in one of those.

thats a big problem now as many hate the word and the idea they are working class. we were not cash strapped as a family but knew how to eak money out. who hears of christmas clubs anymore and even saving supermarket stamps are a rarety. even among the rest of the oldies only us and one more do it but makes christmas less of a problem like it was for most in the past. looking across the road at night its akin to blackpool illuminations with th lights left on in what looks like every story of the house. suppose switches are old hat and it cannot be done on their tippy tappy phones.

I always wanted a Mk 3 Cortina when I was 19…… got a Mk4 eventually, a right bag of shite it was too

Now this is a Cortina.

That's a beauty. C Reg!.

It was 6 years old 1600cc automatic, I bought it from Ewart Parsons when they had garage on Stockton Road, traded in a couple years later for a second hand Marina now that was a bag of sh***, I wanted a second hand escort but couldn’t afford one.

Anyone remember the Mk1 ‘s in the Carry on Cabby film…I was as an apprentice with bloke who bought one of cars post filming…he used to spray the underside with oil…mind you he’d be buggered if he got an oil leak.

Just passed a old Toledo going down the coast road. Long time since I have seen one of those in Hartlepool.

An acquaintance of me dad worked as a carpet salesman for a while in the late 60's/early 70's, and didn't make a great deal in basic wages and commission. What made the difference was the fiddle going on with the loan company on credit sales.

You didn't get a cash loan back then, but a voucher for (typically) £20 that you could use in the shop which got (for example) your hall, stairs and landing fitted. The fiddle was that you actually got only 15 quid's worth of carpet and underlay.

Each person in the department got a cut of this, after the loan-company rep took half. The cuts were quoted in shillings to the pound, and the lower down the departmental pecking order you were, the less you got. I think the big boss got 5/- and me dad's mate got 6d in the pound.

Might not seem much, but over the year it paid for a damn good Christmas.

A Toledo ..was it on the back of a recovery vehicle.?