Pavilionaire
Well-known member
- Jul 7, 2003
- 31,088
I've not seen state pension that high, but I have seen some on c. £13K - £14K if they are a widower. If not other income and a Personal Allowance of £12,570 that's £430 - £1,430 taxable so £86 - £286 in tax due, a burden on the pensioner to understand and pay and a burden on HMRC to collect.How do you get a State Pension up to 25k other than by not drawing it for more than a decade?
If only the Personal Allowance had gone up by even half the rate of inflation of recent years all state pension would be outside the scope of tax, this is a problem entirely of the Tories own making.
Yes, in my example above the Tories plan to give a Personal Allowance equal to the state pension, but not sure why pensioners should get a larger tax-free Personal Allowance than, say, my 18-year old son who is on c. £13K a year so IS exposed to tax whilst trying to save for a deposit on a property whilst running a car to get him to/from an apprenticeship.
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