Filthy Thieving Tory Scum News: Hammond homes in on pensions tax relief Filthy Thieving Tory Scum News: Hammond homes in on pensions tax relief
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    Default Filthy Thieving Tory Scum News: Hammond homes in on pensions tax relief

    Tax relief that encourages contractors and other pension savers to build up a nest egg has been seen in the sights of Philip Hammond, the chancellor, ahead of his autumn Budget 2018.

    Targeting top earners, by tightening the annual allowance or the lifetime allowance, has been described by a contractors’ adviser as a “perennial story” for media titles to run.

    But Mr Hammond now reportedly regards the £40,000 and £1million thresholds (only above which tax is levied on pension contributions) as “the last remaining pots of gold we can raid.”

    Reducing the thresholds, which the adviser - CMME - has said contractors use as a ‘valuable tool for tax-efficiency,’ would help the chancellor fulfil a £20billion NHS spending vow.

    And despite HM Treasury reporting better than expected tax receipts returning the biggest July surplus for 18 years, it would also show a revenue-hungry Mr Hammond to be making firms (not just people) pay their ‘fair share.’

    This is because, when floated previously, cuts to higher rate tax relief on pensions were envisioned as being made via tax returns, so that company contributions could be caught too.

    At present, contractors can invest up to £40,000 per tax year either personally or via their limited company, with a tax saving equating up to 64% because for every £100 invested, the contractor pays just £36 and the taxman pays the rest.

    Source: https://www.contractoruk.com/news/00...ax_relief.html


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    Also, I read that ER is under threat. I cannot tell you how much I loathe this Government, and the previous one, and the one before that.
    ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

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    Quote Originally Posted by Lockhouse View Post
    Also, I read that ER is under threat. I cannot tell you how much I loathe this Government, and the previous one, and the one before that.
    Was there ever one you liked? Churchill perhaps?

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    Was there ever one you liked? Churchill perhaps?
    Who in their right minds likes any government? Hate a bit less than others maybe.
    bloggoth

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    If Hammond wants a pot of gold, try Swindon.

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    Quote Originally Posted by Lockhouse View Post
    Also, I read that ER is under threat. I cannot tell you how much I loathe this Government, and the previous one, and the one before that.
    Yep, looks like it - feckers want to shaft entrepreneurs again.

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    Quote Originally Posted by GreenMirror View Post
    Was there ever one you liked? Churchill perhaps?
    New Labour were awesome - taper relief, max income tax rate of 40%, house prices going only up, lovely savings interest rates of 5%+...

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    vetran is always on top

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    Quote Originally Posted by AtW View Post
    New Labour were awesome - Magic Money tree and uncontrolled migration.
    FTFY
    "If you didn't do anything that wasn't good for you it would be a very dull life. What are you gonna do? Everything that is pleasant in life is dangerous."

    I want to see the hand of history on his collar.

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    I bet you are regretting not voting for Corbyn. You reap what you sow. But at least now you lot can wake up and smell the coffee.
    Vote Corbyn ! Save this country !

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    Quote Originally Posted by fullyautomatix View Post
    I bet you are regretting not voting for Corbyn

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