£60,000p/a Not that much....

[Serial_Apologist]

£30k each, or as a household? Also depends whether the £30k is taxed or not - older people may not have to pay much tax. Working people could very easily "lose" to tax, council tax and transport costs to and from work. An added complication is that many older people in the SE, possibly retired, are subsidising younger family relatives who don't earn enough, and don't have anywhere affordable to live. The same may be true elsewhere, but perhaps to a lesser extent.

In light of this the future doesn't bear thinking about: where will family support be coming from when the present pensioned generation dies out, given 17-year above inflation increases in energy supplies charges that are surely underestimates, and the return of interest rate rises.

[Beef Oven!]

£30k each, or as a household? Also depends whether the £30k is taxed or not - older people may not have to pay much tax.

I don't think that income tax is based on age. I think it's based on income!

[ahinton]

I don't think that income tax is based on age. I think it's based on income!

It's based on both; check your tax rates and you'll find that those over 65 with relatively small taxable incomes have higher personal income tax allowances and those over 75 have higher ones still, therefore they pay less income tax.

[Beef Oven!]

It's based on both; check your tax rates and you'll find that those over 65 with relatively small taxable incomes have higher personal income tax allowances and those over 75 have higer ones still, therefore they pay less income tax.

Not true I'm afraid - wish it was.

The age-related allowance for 65s and overs has been abolished. People born up to 1948 will retain some benefit, but when they pass on it's all over rover!

P.S. If you were planning two years ahead, you've missed out and you need to fire your accountant! ;-)

[teamsaint]

TBF , age allowance is utterly illogical, although it may in its time have been a welcome relief(! for those who benefitted.

[jean]

...relatively small taxable incomes...

If you think £30k is a relatively small taxable income you are living in a different world from me.

[Beef Oven!]

If you think £30k is a relatively small taxable income you are living in a different world from me.

It's about out-goings anyway.

[Beef Oven!]

TBF , age allowance is utterly illogical, although it may in its time have been a welcome relief(! for those who benefitted.

Any tax relief given to any bugger, for any reason, gets my vote!!!!

[ahinton]

Not true I'm afraid - wish it was.

The age-related allowance for 65s and overs has been abolished. People born up to 1948 will retain some benefit, but when they pass on it's all over rover!

"People born up to 1948" - or, more strictly, from the tax tables for the current tax year supplied by my bank, those born from 6 April 1938 and 5 April 1948 - means people aged between 65 and 75; I did not suggest that those born after 5 April 1948 have an age related allowance because they would not qualify for one as they're under 65. According to those tax tables, those born between those dates have a personal income tax allowance of £10,500 and those born before 6 April 1938 have one of £10,600, whereas those under 65 with taxable incomes of £100,000 or less have one of £9,440. This suggests that these allowances have been reduced rather than abolished, the reductions being £1 for every £2 of income subject to the basic minimum allowance of £9,440, which is the same reduction as applies to those under 65 whose income exceeds £100,000.

P.S. If you were planning two years ahead, you've missed out and you need to fire your accountant! ;-)

I don't know who are you're referring to by "you" here and it'#s not clear what you mean anyway. Of course the age related allowances may eventually be sacrificed on the altar of a higher basic personal income tax allowance for all that's being bandied about, but we ain't there yet.

[ahinton]

If you think £30k is a relatively small taxable income you are living in a different world from me.

It's relatively small to the extent that it attracts only basic rate income tax.

[teamsaint]

Any tax relief given to any bugger, for any reason, gets my vote!!!!

I like tax reliefs , but some sort of logic applied would be good.

[ahinton]

I like tax reliefs , but some sort of logic applied would be good.

In theory, yes, of course, yet I cannot help but suspect that the consequences of applying logic to the British tax system would be not entirely unakin to those of applying British troops to Afghanistan univited and in the abssence of declaration of war (if you'll pardon my emporary hijacking of another thread in this section of the board); that said, if a government ever decides to simply that system sufficiently to make it workable, vastly cheaper to operate and infinitely easier for taxpayers, tax inspectors and tax collectors alike to understand and then actually succeeds in implementing such desperately needed reforms, I will feel like celebrating my above suspicion having been proved wrong by opening a (hopefully tax-deductible) bottle of Pol Roger Winston Churchill (of which I note that Selfridges is currently offering a 1999 Jeroboam at a mere £1,550)...

[Beef Oven!]

I like tax reliefs , but some sort of logic applied would be good.

Logic? How about 'we raise tax now and then, when we want to have a 'proper' war, or something else of similar importance. Otherwise, everyone takes home all their pay'.

Sometimes I astound myself, with my own logic.

[Beef Oven!]

It's relatively small to the extent that it attracts only basic rate income tax.

Stop wriggling - you're rich and you let the cat out the bag.

[ahinton]

Stop wriggling - you're rich and you let the cat out the bag.

I am not wriggling, I am not rich and I have no cat; that just leaves the bag, which I need for garbage.