ParaHandy
Active member
Re: IR 35, tax, this government
You forgot FRS17? Another innovation by the bean-counters proving they too can be as daft as the gov. This requires pension funds to be valued within cpy accounts which is going to damage final salary schemes, many terminally.
The gov have chipped away at the supports to cpy pension schemes, as you said withdrawl of tax credit (£5bn), which will lead to the substitution of many final salary schemes (currently 70%) with contribution schemes. There is a very real risk that we will see pensioners in abject poverty in 15-20yrs time.
The UK pension scheme was the European flagship. Now, there are so many holes below the waterline that it is a mystery how it still floats.
Indeed, entry by the UK into the EU single currency would have meant that we, in the UK, would have to shoulder part of the EU's pension burden because the EU have grossly underfunded state pensions whereas the UK have private pensions. The gross underfunding by EU countries in their pensions meant that a significant portion of EU debt is allocated to pensions which is not the case in the UK. We as taxpayers will pick our share of that debt up.
You can not fail but be deeply dismayed and very angry at what is going on behind our backs.
You forgot FRS17? Another innovation by the bean-counters proving they too can be as daft as the gov. This requires pension funds to be valued within cpy accounts which is going to damage final salary schemes, many terminally.
The gov have chipped away at the supports to cpy pension schemes, as you said withdrawl of tax credit (£5bn), which will lead to the substitution of many final salary schemes (currently 70%) with contribution schemes. There is a very real risk that we will see pensioners in abject poverty in 15-20yrs time.
The UK pension scheme was the European flagship. Now, there are so many holes below the waterline that it is a mystery how it still floats.
Indeed, entry by the UK into the EU single currency would have meant that we, in the UK, would have to shoulder part of the EU's pension burden because the EU have grossly underfunded state pensions whereas the UK have private pensions. The gross underfunding by EU countries in their pensions meant that a significant portion of EU debt is allocated to pensions which is not the case in the UK. We as taxpayers will pick our share of that debt up.
You can not fail but be deeply dismayed and very angry at what is going on behind our backs.
