Overall good things come out today about the uk. Growth higher than expected, one of the fastest growing economies in the g7, happy days. Long may it continue.
GDP growth should be a lot higher in Q3. A heatwave summer should mean a lot more spent on UK holidays, bbqs & associated food along with copious amounts of ice cream 🍦.
Overall good things come out today about the uk. Growth higher than expected, one of the fastest growing economies in the g7, happy days. Long may it continue.
GDP growth should be a lot higher in Q3. A heatwave summer should mean a lot more spent on UK holidays, bbqs & associated food along with copious amounts of ice cream 🍦.
I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day. This could be terribly inconvenient at times and is just more random people trying to control lives. Is it legal? Age discrimination?
I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day. This could be terribly inconvenient at times and is just more random people trying to control lives. Is it legal? Age discrimination?
I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day. This could be terribly inconvenient at times and is just more random people trying to control lives. Is it legal? Age discrimination?
That would be illegal - not sure where you read that but it aint happening.
Yes there will be some elderly customers who perhaps do not have the ability to manage their finances effectively but restrictions happen now with Lasting Powers of Attorney taking financial decisions.
You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day. This could be terribly inconvenient at times and is just more random people trying to control lives. Is it legal? Age discrimination?
That would be illegal - not sure where you read that but it aint happening.
Yes there will be some elderly customers who perhaps do not have the ability to manage their finances effectively but restrictions happen now with Lasting Powers of Attorney taking financial decisions.
I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day. This could be terribly inconvenient at times and is just more random people trying to control lives. Is it legal? Age discrimination?
That would be illegal - not sure where you read that but it aint happening.
Yes there will be some elderly customers who perhaps do not have the ability to manage their finances effectively but restrictions happen now with Lasting Powers of Attorney taking financial decisions.
I don't think it is/will happen nor should it. But with the elderly people in mine and my wife's family it would be useful. They think they are being clever but are just opening themselves up to being taken advantage of/scammed and even putting them in danger.
I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day. This could be terribly inconvenient at times and is just more random people trying to control lives. Is it legal? Age discrimination?
That would be illegal - not sure where you read that but it aint happening.
Yes there will be some elderly customers who perhaps do not have the ability to manage their finances effectively but restrictions happen now with Lasting Powers of Attorney taking financial decisions.
If you read the article it says that banks are limiting the amount of cash that ANYONE can take out. It then goes on to say how this might affect older people as they generally like to deal on cash rather than pay online.
Bit late with this as I've just got back from holiday. While on holiday I had a notification that I'd won on the premium bonds. I couldn't check how much as I didn't have my pb number with me. Turns out I've won £700. My best ever win. 1 x £500 2 × £100 This is on a holding of £22. Came at a good time as I'd spent more than I wanted on holiday.
That's some return for £22 and three wins too. You couldn't get a pint and a burger at the Oval for that.
You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
Prrlease. Of course I read it. That's where I get my morning news, audio the articles on the app. Far superior to the sadly diminished Amol Rajan show, once known as BBC R4's flagship Today programme. The point is, it's in line with Government predictions, the basis upon which Reeves made her decision. Not excitable reports from private consultants with vested interests "analysing" LinkedIn, which has been my issue all along. I don't claim to know the end result any better than you but that Henley Centre trash was being presented here as solidfoundations for what seem to me like pre-determined opinions.
Bit late with this as I've just got back from holiday. While on holiday I had a notification that I'd won on the premium bonds. I couldn't check how much as I didn't have my pb number with me. Turns out I've won £700. My best ever win. 1 x £500 2 × £100 This is on a holding of £22. Came at a good time as I'd spent more than I wanted on holiday.
That's some return for £22 and three wins too. You couldn't get a pint and a burger at the Oval for that.
You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
Prrlease. Of course I read it. That's where I get my morning news, audio the articles on the app. Far superior to the sadly diminished Amol Rajan show, once known as BBC R4's flagship Today programme. The point is, it's in line with Government predictions, the basis upon which Reeves made her decision. Not excitable reports from private consultants with vested interests "analysing" LinkedIn, which has been my issue all along. I don't claim to know the end result any better than you but that Henley Centre trash was being presented here as solidfoundations for what seem to me like pre-determined opinions.
The data they have (which is a small subsection) is inline. It’s going to be some while (18 months) before anyone knows the outcome, until then it’s all fingers in the air really.
I think come October it’ll be broadly forgotten as we move onto the next tax change/take (my money is on IHT).
You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
Prrlease. Of course I read it. That's where I get my morning news, audio the articles on the app. Far superior to the sadly diminished Amol Rajan show, once known as BBC R4's flagship Today programme. The point is, it's in line with Government predictions, the basis upon which Reeves made her decision. Not excitable reports from private consultants with vested interests "analysing" LinkedIn, which has been my issue all along. I don't claim to know the end result any better than you but that Henley Centre trash was being presented here as solidfoundations for what seem to me like pre-determined opinions.
The data they have (which is a small subsection) is inline. It’s going to be some while (18 months) before anyone knows the outcome, until then it’s all fingers in the air really.
I think come October it’ll be broadly forgotten as we move onto the next tax change/take (my money is on IHT).
As in removing the tax free allowances or something else?
You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
Prrlease. Of course I read it. That's where I get my morning news, audio the articles on the app. Far superior to the sadly diminished Amol Rajan show, once known as BBC R4's flagship Today programme. The point is, it's in line with Government predictions, the basis upon which Reeves made her decision. Not excitable reports from private consultants with vested interests "analysing" LinkedIn, which has been my issue all along. I don't claim to know the end result any better than you but that Henley Centre trash was being presented here as solidfoundations for what seem to me like pre-determined opinions.
The data they have (which is a small subsection) is inline. It’s going to be some while (18 months) before anyone knows the outcome, until then it’s all fingers in the air really.
I think come October it’ll be broadly forgotten as we move onto the next tax change/take (my money is on IHT).
As in removing the tax free allowances or something else?
Lots of speculation in the press over the last few days about changes to both IHT & CGT. When I say "speculation" it's more reasonable to say its info put out there by the Treasury to see what the public would accept....if very negative then expect row back like they did re the cap on the Tax-free lump sum. FWIW my money is on CGT rates to increase in line with income tax rates and the Gift Allowances in IHT to be changed/ reduced / abolished. However, changes to CGT & IHT in those measures arent't going to raise much revenue.....certainly nowhere near the £40bn needed to shore up the black hole. Still feel there might be a "biggie" announced on Budget Day (which has still not yet been announced exactly when it will be)
As an aside, I believe there are over 100 different reliefs available on IHT where different Chancellors have tinkered with it over the years.
You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
Prrlease. Of course I read it. That's where I get my morning news, audio the articles on the app. Far superior to the sadly diminished Amol Rajan show, once known as BBC R4's flagship Today programme. The point is, it's in line with Government predictions, the basis upon which Reeves made her decision. Not excitable reports from private consultants with vested interests "analysing" LinkedIn, which has been my issue all along. I don't claim to know the end result any better than you but that Henley Centre trash was being presented here as solidfoundations for what seem to me like pre-determined opinions.
The data they have (which is a small subsection) is inline. It’s going to be some while (18 months) before anyone knows the outcome, until then it’s all fingers in the air really.
I think come October it’ll be broadly forgotten as we move onto the next tax change/take (my money is on IHT).
As in removing the tax free allowances or something else?
The tax free allowances has been the same for many years, so in many respects it reduces due to inflation. I’m sure when my mum died in 2008 it was best part of £300k then (£285k rings a bell).
there’s lots of speculation, I can see the 7 year rule being changed, they could remove the £175k house allowance for direct descendants.
i fear they may reduce the tax free allowance as its a very southern thing (in general) and those more affluent, the average couple in the UK doesn’t have over £1m, so will only be unpopular for a small % of the population and will raise a decent sum if it was say halved.
You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
Prrlease. Of course I read it. That's where I get my morning news, audio the articles on the app. Far superior to the sadly diminished Amol Rajan show, once known as BBC R4's flagship Today programme. The point is, it's in line with Government predictions, the basis upon which Reeves made her decision. Not excitable reports from private consultants with vested interests "analysing" LinkedIn, which has been my issue all along. I don't claim to know the end result any better than you but that Henley Centre trash was being presented here as solidfoundations for what seem to me like pre-determined opinions.
The data they have (which is a small subsection) is inline. It’s going to be some while (18 months) before anyone knows the outcome, until then it’s all fingers in the air really.
I think come October it’ll be broadly forgotten as we move onto the next tax change/take (my money is on IHT).
As in removing the tax free allowances or something else?
Lots of speculation in the press over the last few days about changes to both IHT & CGT. When I say "speculation" it's more reasonable to say its info put out there by the Treasury to see what the public would accept....if very negative then expect row back like they did re the cap on the Tax-free lump sum. FWIW my money is on CGT rates to increase in line with income tax rates and the Gift Allowances in IHT to be changed/ reduced / abolished. However, changes to CGT & IHT in those measures arent't going to raise much revenue.....certainly nowhere near the £40bn needed to shore up the black hole. Still feel there might be a "biggie" announced on Budget Day (which has still not yet been announced exactly when it will be)
As an aside, I believe there are over 100 different reliefs available on IHT where different Chancellors have tinkered with it over the years.
Yes I’ve seen those suggestions too.
I can’t picture how the gifting change would work however.
If I give my children x thousands whilst I live currently I have to suffer IHT (tapered) if I don’t survive 7 years. But if that’s withdrawn are they saying any money I give my children to spend in my lifetime can become taxable upon my death even if more than 7 years ago? I don’t see how you police that.
You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
Prrlease. Of course I read it. That's where I get my morning news, audio the articles on the app. Far superior to the sadly diminished Amol Rajan show, once known as BBC R4's flagship Today programme. The point is, it's in line with Government predictions, the basis upon which Reeves made her decision. Not excitable reports from private consultants with vested interests "analysing" LinkedIn, which has been my issue all along. I don't claim to know the end result any better than you but that Henley Centre trash was being presented here as solidfoundations for what seem to me like pre-determined opinions.
The data they have (which is a small subsection) is inline. It’s going to be some while (18 months) before anyone knows the outcome, until then it’s all fingers in the air really.
I think come October it’ll be broadly forgotten as we move onto the next tax change/take (my money is on IHT).
As in removing the tax free allowances or something else?
Lots of speculation in the press over the last few days about changes to both IHT & CGT. When I say "speculation" it's more reasonable to say its info put out there by the Treasury to see what the public would accept....if very negative then expect row back like they did re the cap on the Tax-free lump sum. FWIW my money is on CGT rates to increase in line with income tax rates and the Gift Allowances in IHT to be changed/ reduced / abolished. However, changes to CGT & IHT in those measures arent't going to raise much revenue.....certainly nowhere near the £40bn needed to shore up the black hole. Still feel there might be a "biggie" announced on Budget Day (which has still not yet been announced exactly when it will be)
As an aside, I believe there are over 100 different reliefs available on IHT where different Chancellors have tinkered with it over the years.
Yes I’ve seen those suggestions too.
I can’t picture how the gifting change would work however.
If I give my children x thousands whilst I live currently I have to suffer IHT (tapered) if I don’t survive 7 years. But if that’s withdrawn are they saying any money I give my children to spend in my lifetime can become taxable upon my death even if more than 7 years ago? I don’t see how you police that.
Or maybe it’s the tapering which is withdrawn?
I suspect the tapering. Although that only applies if you gift more than £325k anyway as gifts prior to death are the first to be used against the tax free allowance. So if you gave £325k away 4 years before death there’s no taper, it just uses up the tax free allowance.
CGT equalisation with income tax makes sense to me, it's one of the few taxes I think this government will be looking at that isn't the red meat sort and actually makes sound economic sense too rather than the economic equivalent of the Rwanda policy.
So is the feeling that tapering would be changed for future gifts or would include already given eg A gift given last week, would that still be ok or come under the new rules. Sounds like more retrospective taxation
So is the feeling that tapering would be changed for future gifts or would include already given eg A gift given last week, would that still be ok or come under the new rules. Sounds like more retrospective taxation
I would say any changes would come into force at the new tax year.. so 6th April 2026. Hardly any Budget changes to do with tax happen immediately.
CGT equalisation with income tax makes sense to me, it's one of the few taxes I think this government will be looking at that isn't the red meat sort and actually makes sound economic sense too rather than the economic equivalent of the Rwanda policy.
It would simplify tax to some extent I guess. You are then saying (I guess) I don’t care how you made your money (income) I’m taxing you the same rate as if you are salaried.
It’s equitable.
Some will argue it discourages investment I guess.
Comments
This could be terribly inconvenient at times and is just more random people trying to control lives.
Is it legal? Age discrimination?
but I don’t believe it either.
There is no age restriction AT ALL !!!
You rascal you
I think come October it’ll be broadly forgotten as we move onto the next tax change/take (my money is on IHT).
As an aside, I believe there are over 100 different reliefs available on IHT where different Chancellors have tinkered with it over the years.
there’s lots of speculation, I can see the 7 year rule being changed, they could remove the £175k house allowance for direct descendants.
i fear they may reduce the tax free allowance as its a very southern thing (in general) and those more affluent, the average couple in the UK doesn’t have over £1m, so will only be unpopular for a small % of the population and will raise a decent sum if it was say halved.