It's a pisstake. The lower end £12,570 should never have been frozen.
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Cost of living crisis - how are you all doing?
- Thread starter The Northern Baptist
- Start date
It's a pisstake. The lower end £12,570 should never have been frozen.
Mrs H only works for a bit of luxury money tbh, fortunately we don't need benefits as even though I’ve blown loads of dosh on cars, holidays and socialising (City, golf going out) I’ve been lucky enough to save a few bob, got my private pension and shares. I’ll never drive a Ferrari but I estimate my cash will run out when I’m about late 70’s, I probably won’t get there due to my heart condition but I’ve still got the house to either downsize or take equity out, or both!!That's it in a nutshell. Give with one hand take with another. If you can manage cut the hours to keep below the threshold. Alternatively give up the job you may qualify for some benefits.
So out of an income for your mum if she was on say £12k total pensions she will pay almost £300 in tax, its so unfair on people like your mum, proper disparity between those who have huge pensions.Not raising the threshold at least in line with inflation is raising taxes every year on those that can least afford it as well as dragging the most vulnerable into paying tax. My mum is also on the minimum pension and when my dad died and that halved the household income, his 2 tiny private pensions worth about £2000 a year, last years pension rise took her over the threshold.
Not sure when the threshold was last raised but it was a fair few years ago now.
Martin Lewis was saying women who brought up children and lost out on pension credits will shortly be able to claim for lost pension income brought on as a consequence of not having enough contributions, could run into thousands per person he said.
You'll probably be able to move that slider down to 5% as there are plenty of 5% mortgages available.Maybe they've upped it. I looked on the details when one went up for sale and it was a fair bit more than 10%. Here you go I wasn't imagining it
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So out of an income for your mum if she was on say £12k total pensions she will pay almost £300 in tax, its so unfair on people like your mum, proper disparity between those who have huge pensions.
Martin Lewis was saying women who brought up children and lost out on pension credits will shortly be able to claim for lost pension income brought on as a consequence of not having enough contributions, could run into thousands per person he said.
No she can earn £12,570 before paying tax.
My bad, meant £14k as his mum get £2k from her late husband’s pensionNo she can earn £12,570 before paying tax.
blueparrot
Well-Known Member
- Joined
- 7 Jun 2012
- Messages
- 29,474
That’s interesting, I’l look out for that. As you say she just about missed out on pension credits and of course the benefits that go with that.So out of an income for your mum if she was on say £12k total pensions she will pay almost £300 in tax, its so unfair on people like your mum, proper disparity between those who have huge pensions.
Martin Lewis was saying women who brought up children and lost out on pension credits will shortly be able to claim for lost pension income brought on as a consequence of not having enough contributions, could run into thousands per person he said.
I think it was the Money Show Live on the 14th November.That’s interesting, I’l look out for that. As you say she just about missed out on pension credits and of course the benefits that go with that.
Edit - you can do it where you get £100 off the price depending on what part of the store you go to - bit strange that you have to go to a specific person in the shop but whatever.Thanks for this.
I need a new phone. Was going to wait until after Christmas but might go for this with it being a good price.
Looks like the £100 cashback might be in a gift card though instead of actual discount.
Got the S21 for £249 + a very old broken phone with a smashed up screen. Bargain.
m7mcfc
Well-Known Member
M&S do baked beans at 50p a can. Bread for 80p and eggs for £1.25 can't go wrong.Eeh, the number of folk who I bump into in M&S and tell 'em we're getting too much in the pension if we can shop here.
The other stuff is quite expensive though. But you get what you pay for.