Anyone watching the Budget 2024?

[LadyofRutshire]

I couldn't find a thread on today's budget. Anyone watching live?

Increased thresholds will be inline with inflation from 2027/28!!! That will be massively important for our household.

Great budget so far!

You were always taxed on an inherited DB pension which sounds like you are referring to.
DC pensions (pots of money) used to be (usually, not always) passed on in full outside of your estate for inheritance tax purposes.

His business employs over 50 people as he owns two vet practices. So people will lose their jobs - as it's that or increase fees.

I am shocked re inheirance tax on pensions. What indeed happens to married people? Can you move your pension into the husband/wife scenario rather than just allowing it to be left to anyone?

Really impressed. Hope all those threads panicking can stop now.

I mean they won't but can hope.

Well, after listening to this, I can why the right wing press has gaslit us into explaining this was going to be a terrible budget because it hits the rich and they don’t want the rich to be hit.

No, that's not right, this person is talking about a dependent's pension, which is income.

Inherited pensions is where you inherit the 'pot', then there is currently no IHT between spouses, so would be exempt of IHT (not of income tax) but if it's not the spouse (i.e. goes to offspring, or anyone else actually) then it's added to other inheritance and the first £325k is IHT free for an individual.

I agree - strong Labour budget.

Can’t stand all the noise!!

I suspect you are confusing different things here.

What pension do you mean, who do you think it is going to?

You think it's ok to violate the dignity of the most vulnerable in society? Treated like criminals - direct access to bank accounts for the "crime" of being in need of support?

Really impressed so far

2.3 Billion into schools and increased tax on second homes - these sound well overdue to me.

well many vet practices in the uk are being investigated watched a documentary how many charge far to much. Fees are very high that’s why I use animal trust they don’t charge consultation fees and yet still must make enough to run as a business

I agree too...

Eurgh they’re all so annoying with their cheers and jeers. Calm down.

Disabled people on benefits are one of the poorest groups in society.

The very opposite of rich.

Assets passed between spouses are exempt.

Is it really only 6% of children in private schools? There seems to be loads of private schools where I live.

Vets are a business who need to provide salaries to their employees. If you want employees to be paid a good salary then you need to expect to pay higher cost for treatment.

Money doesn't grow on trees. Equipment is expensive. Good vets, receptionists and technicians are expensive.

Not the point, we as a (working class) family have paid, paid, paid over the decades. Not claimed anything. Happy to pay for the benefits of those who need them. Glad of the welfare state. Am sure our finances will be well depleted should any of me or mine need care in the future. So yes, I disagree with inheritance tax in any form.

And a million pounds in assets is honestly not impossible for a lot of people these days with average house prices near me being £600k, so this could affect many people.

I know it’s a diamond shoes are too tight for some people!

Damned fine budget so far. I think RR is my new hero . . . 😃

It's 25% in Edinburgh.

Not sure about all the implications, but she's playing a blinder.