The Budget.

The budget hasn't attrected much interest on the boards.
I'm happy with the increase in personal allowance, but very little else affects me.

Anyone else share my apathy?

Re: The Budget.

Hi George I have been too busy to digest the budget in detail .
From what I have seen it won't affect me greatly, the increase in the personal allowance is good though.

I think my son may benefit from the childcare payments announced just before the budget and while I am glad of that I don't really think the rest of the population should be subsidising those who choose to have children.

Re: The Budget.

Yes I wholeheartedly share your apathy

Re: The Budget.

I would have thought the pensions bit would have been interesting to some ? Certainly if my husbands tiny pension pot can be his when he retires that will make a difference as it was it would have prevented us accessing other benefits but now he can spend it when he retires and access whatever is available benefit wise.

It will be well less than £10,000 so wasn't going to pay out much as a yearly annuity (just enough to affect benefits like housing benefit and rates etc).

Re: The Budget.

I can't see it affecting us at all, I'd have liked to see council tax reductions for over 70's or some interest rates on savings.
Oh but we can buy another £10,000 in Premium Bonds each

Re: The Budget.

I don't think it's hit home yet, with many people.

Yesterday's budget possibly unwrapped the biggest pension reform for more than 80 years.

For someone approaching retirement age (with a company or private pension), it could be life-changing.

Many people will now be able to retire earlier

I came onto this forum thinking it would be swamped with yesterdays news, but amazed there's barely a whimper

Re: The Budget.

I will save 2p a week with the penny off a pint !! The increase in the tax-free allowance doesn't take effect until next year.

Re: The Budget.

Seriously? I didn't hear about that, though as I'm in Ireland I haven't had all the gory details yet...

Re: The Budget.

Alan, surely the tax free allowance goes up to £10k this year and £10,500 next year.

As for taking your pension pot, I understand that you can take 25% tax free and the rest is still taxed at your marginal rate instead of the current 55%. For a small pot, this would not be too much, but for a large one (say £500k), there would still be a very high tax burden.

Think I'll stay with my occupational pension.

Re: The Budget.

Yes it does. I have just had my notice of coding for 2014/15.