Protecting your finances now Labour are in charge

Haven’t you already done it Primrose53?

No, I don't mind putting my hand in my pocket if it means better public services. I don't expect other people with less than I have to subsidise me.

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To be fair, while there are so many families being rehoused in B & Bs, damp and mould ridden Housing Authority flats, whole families often in one or at most two rooms with shared toilets and kitchens, or even containers I shan’t shed too many tears for second home owners or holiday let’s in rural,or seaside areas where 50% of the housing is AirNbB and locals are priced out of the market
As for “rings of steel” , my sock under the bed will stay where it is.
I don’t think those of us on pensions especially where we own our own homes are necessarily particularly at risk.
If spending on homelessness, the NHS, schools, social housing and social care take precedence over investment in property or tax evasion schemes I’ll be the first to give three hearty cheers

Change the record Primrose you’re sounding very bitter
Many of us have suffered a lot under your government so I’m a happy bunny to give another a go
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There was talk of taxing your pension. I would not like that.

What do you think they will do Primrose?

Genuinely interested, as when we last had a Labour government, DH and I had less money than we have now.

It’s been hard earned and saved for, and I intend it to enable us to enjoy the rest of our lives and hopefully have some left to assist the AC and GC.

so we are ending our holiday let property and making alternative arrangements

Primrose my heart bleeds for you. How will you manage with only one property? I hope you’ll be OK!!!

kircubbin2000

There was talk of taxing your pension. I would not like that.

I think what you mean is that there is a lot of right wing media talk of pensions being taxed.

kircubbin2000

There was talk of taxing your pension. I would not like that.

If your State Pension added to any private or occupational pension takes you above the point where tax is payable, yes. But the State Pension always comes first in the calculations so the cut off point would only come when the threshold is lower than the pension.

Have Labour said they're going to do any of that OP?

Why don't you just relax and see what's actually going to come about rather than wasting today inventing some imaginary bogyman coming to steal your nice new cars, holiday let, big garden and extra special holidays.

kircubbin2000

There was talk of taxing your pension. I would not like that.

Pensions are already taxed on anything over the tax free threshold.

The talk of taxing pensions came about because the Tories have frozen the tax free threshold for some years not and, as the triple lock means pensions rise each year, the pension is likely to exceed the tax free threshold.

Casdon - I was going to ask the same question. I have given away most of mine to the children. Their needs are now while they are Stettin up mes, bringing up young children. Hopefully, I will survive 7 years and the Taxman will not be able to get his hands on it.

Setting up homes

Talking of protecting your finances, watch out for a scam website called Save My Taxes.

This website is operating from India and Nigeria and claims to be representing WASPI, and will assist in obtaining compensation. They are also targeting anyone claiming PIP, Cost Of Living Payments,Carers Allowance, etc.

Do not touch with a bargepole.

They can’t be worse than the Tories!!!

crazyH

Casdon - I was going to ask the same question. I have given away most of mine to the children. Their needs are now while they are Stettin up mes, bringing up young children. Hopefully, I will survive 7 years and the Taxman will not be able to get his hands on it.

Yes, that’s what I’ve done too.

BlueBelle

Change the record Primrose you’re sounding very bitter
Many of us have suffered a lot under your government so I’m a happy bunny to give another a go
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I agree! That record is getting boring!!!!!

I had hoped for an increase in the limit for inheritance tax which the Conservatory government would have brought in . I think it is so unfair to tax whate you have left for your family after paying tax during your lifetime . So many houses now take you over the limit .

I’m glad labours in it’ll take time to mend the mess the tries have left!

Sorry tories!

Floradora of course, anyone who needs care will lose their home to pay for it, such is the dire state of social care in this country. So they won’t be leaving their home to their children anyway.

Perhaps, if everyone paid a bit more tax, social care could be fixed so it wouldn’t take our homes - wow, there’s an idea!

Floradora9

I had hoped for an increase in the limit for inheritance tax which the Conservatory government would have brought in . I think it is so unfair to tax whate you have left for your family after paying tax during your lifetime . So many houses now take you over the limit .

Why not give tranches of money to your family now? You will have the pleasure of seeing them benefit while you're still alive. If your other property assets take you over the £1 million threshold, surely that's still an amazing legacy for your children?

Yes Primrose. We have been making plans for a Labour government for some time. We are alive to likely changes in capital gains tax, dividend tax and inheritance tax including changes to the ‘seven year rule’. We may also move earlier than expected due to likely stamp duty changes. Will have to live with increased council tax, vehicle tax, fuel duty, alcohol duty etc. Glad we don’t have an EV with predicted vat on recharging costs going from 5% to 20%. Labour will be nothing short of robbers.