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Should the Age related tax alowance be reintroduced

(14 Posts)
12Michael Thu 09-Apr-15 09:53:44

Being one of those unfortunate ones born after April 6th 1948, I missed out on the age related tax allowance.
I think that organisation's such as Age UK , and the Pensioners Parliament should try and get this reintroduced.
With those under retirement age paying a lower tax threshold such as the 1st £800 -£900 tax threshold.
And those over retirement having a far greater tax free allowance up to 1200.
plus and introduction of the 10% tax band.
Mick

mollie65 Thu 09-Apr-15 14:19:01

those born after april 6th 1948 also miss out on the age related allowance now it has been equalised for under and over 65s hmm
that said I did get to keep a bit more of my income from age 65 to 68
doubt it will get re-introduced as the over 65s are fair game for those who like to point out an age cohort is treated better than everyone else. shock

mollie65 Thu 09-Apr-15 14:19:44

meant to say those born BEFORE april 1948 !

durhamjen Thu 09-Apr-15 14:22:09

Labour Party has said it will bring back the 10p rate. Surely that should be enough.
We do not want to give them another stick to beat pensioners with.
Sorry...with which to beat pensioners.

Soutra Thu 09-Apr-15 14:29:47

We are fair game aren't we? Attitudes seem to range from "baby boomers living the life of Riley" to " bloody lucky to get anything at all " with " all that (?) pension for doing nothing all day" somewhere in the middle.
Younger people conveniently forget we have paid into out pension over the decades, we paid extortionate mortgage rates when we were younger and now if we have any savings they either get tapped into to help the DC with their house purchases or earn 0.05% interest . Better in a sock under the mattress!

petallus Thu 09-Apr-15 14:35:29

Oh not another pensioner whinge thread! grin

mollie65 Thu 09-Apr-15 14:58:09

no it is not a pensioner 'whinge' most of us have accpted what has happened even if we have lost out. to see a 'whinge about pensioners' head over to mumsnet where we are deemed to be absolute money-grubbing parasites with a 'raft of freebies' hmm handed to us.

janeainsworth Thu 09-Apr-15 15:00:04

I'm not sure what you mean Michael by
"With those under retirement age paying a lower tax threshold such as the 1st £800 -£900 tax threshold. And those over retirement having a far greater tax free allowance up to 1200."

Everyone has a tax-free allowance of £10500.
I agree with jen and I don't think people should have extra tax allowances just because they are old.
I would prefer more help for less well-off older people through an extension of pension credit, provided any increases were also reflected in working families tax credit, in the interests of fairness.

petallus Thu 09-Apr-15 15:01:55

That's what I mean by whinge mollie65.

mcem Thu 09-Apr-15 15:19:47

How can raising the tax threshold for everyone be seen as in any way penalising pensione? Nothing is being taken away and I'm happy to see the next generation levelling up.
I too was puzzled by the OP's figures for tax thresholds.
Sounds a bit 'whingey' to me.

mcem Thu 09-Apr-15 15:21:09

Sorry - penalising pensioners

petallus Thu 09-Apr-15 15:42:33

12michael what you propose would not make that much difference anyway.

Twenty percent of £300 is £60 a year, or just over £1 a week, not enough for a cup of cofee.

mollie65 Thu 09-Apr-15 17:07:56

this is how it worked:
*The extra personal allowance is means-tested. For over 65s, the extra allowance applies up to a total income of £24,000 in 2011-12 (£25,400 in 2012-13). Above that level, it reduces by £1 for every £2 above the limit until it reaches parity with the under 65s.

Currently some five million people qualify for the extra allowance out of 12million pensioners.*

I know these are old figures but it was a help to those of us not well-heeled and in receipt of large pensions. It is all very well saying increase Pension Credit to aid poorer pensioners JaneA but pension credit couples already get 225 pound per week, full council tax and housing benefit whereas those of us who have a small private pension have to PAY for most things.
not whinging honestly but the extra personal allowance was to help with the extra cost of being old (over 65) and did save us a bit of tax on our very meagre income.

janeainsworth Thu 09-Apr-15 17:24:38

Maybe you could be eligible for Savings Credit then mollie?
https://www.gov.uk/pension-credit/overview
I think the government's intention is to remove the disadvantage that people who have a small private pension or savings experience.