Osborne not touching pensions now

[WordIsBond]

well the UK finances are going to be even worse now as a result of so many people maxing out pension contributions in advance of the expected change to pensions. its going to be a very expensive about turn for Osborne.

He'll be fine. That tax impact probably won't flow through much for months. Company contributions won't have any impact until corporation tax is due, which is 9 months from the end of the current tax year, which may not end for another year. Topics of basic rate would have been happening anyway, it is the top up of higher rate savers that will hit, when they do their self assessment.

But when they do their self assessment, they will also be paying tax on higher rate dividends. And anyone who is higher rate and regularly takes dividends will have brought them forward, even though it means more tax this year, to avoid the higher rate next year. The next self-assessment is going to take in a very nice amount for Georgie on higher rate and additional rate dividend taxes. It is likely to more than make up for the pension costs.

And all the investment companies stirring up the panic to get people to top up their pensions will have profited quite nicely by it, so he'll get some corporation tax out of them, too. Don't shed any tears for the Chancer of the Exchequer.

[dingdong]

well the UK finances are going to be even worse now as a result of so many people maxing out pension contributions in advance of the expected change to pensions. its going to be a very expensive about turn for Osborne.

[ruasonid]

Fuel, booze, n' fags?

Diesel is now a health hazard so its use must be discouraged.

Forgot to add the disabled.

[DallasDad]

Budget in March minimal impact and change....
Followed by an emergency oh tulip or thank the f*** for that, 2nd Budget July - depending on what side of the fence he is on.

[ruasonid]

Fuel, booze, n' fags?

Diesel is now a health hazard so its use must be discouraged.

[Boo]

So what is he going to touch ? </Places hands in lap>

Boo

[Milo]

Seriously, he never was going to be touching pensions in this budget.

[ruasonid]

Chicken Gideon. For now.

"A Treasury source said it was "not the right time" to make changes to pension tax relief."

[siouxchief]

Some good news that Osborne is no longer going to hammer pensions in April:

Pensions: George Osborne drops plans to cut tax relief - BBC News