“Tories pledge ‘triple lock plus’ tax cut for pensioners”

May 31, 2024 | Tax

If the State Pension does keep rising with the Triple-Locked highest measure of inflation, and the income tax allowance remains frozen, it might indeed not be long before the pension is more than the allowance and so becomes taxable. For those with other pensions, it would mean a change of tax code, and more tax taken from one or more of those others. But many, and there are many, whose only income is the State Pension, would suddenly become taxable. A potential nightmare for the HMRC, who would have to either bring in a new system to tax it at source, or try to get thousands, probably hundreds of thousands, to fill in tax returns for the first time and pay what’s due. So it would never have happened. But of course sounds like a pretty good we-love-pensioners tax pledge. Just saying. 

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“TV presenter wins 10-year IR35 battle against HMRC”

“TV presenter wins 10-year IR35 battle against HMRC”

The infamous ‘IR35’ dates from the Gordon Brown (kids etc.) era. It was intended to stop contractors effectively working for companies as if self-employed and avoiding many of the costs, NI for one, of being employed; for both the non-employee and employer.