UK Budget (1 Viewer)

[Pauldohert]

I'm in the situation where I now do the work of 4 people, plus my own job. The work of the 4 people who were made redundant have been reduced to 4 macros 3 of which are run weekly and the other monthly, this is all in the private sector.

So now 5 macros for you?

 

[oumahexi]

you also have the fact that there is alos a requirement to take on "special" people ..and this case cause a problem .

I know! That's how I got my job...

 

[chergh]

So now 5 macros for you?

Sure, they'll have to employ someone else to write it first though.

 

[Pauldohert]

Sure, they'll have to employ someone else to write it first though.

Thats the grand economic plan - then you need to export something.

 

[PNGBill]

Mine is currently an NHS doctor. When I lived in South Africa we had to have private medical insurance so our doctor was private. You could always get an appointment to see him on the day you needed him but he didn't do house visits.

I just assumed the UK was similar to NZ where the local Doctors are private and charge a large portion of the visit costs to the Govt.

So in the UK the local Doctor is a public servant and works out of a Govt office ?
How sad highly qualified people can't be in business.
Sounds very socialist to me.
Where do you find all these Social Workers that are happy to work long hours on limited salaries ?

This may explain why a lot of UK trained Doctors are in NZ and Aust.

I think in Australia they have both. ie you can go to a Health dept clinic or a private doctor where part of your visit cost is covered by your mandatory health cover (tax variant)

 

[Brianwarnock]

So in the UK the local Doctor is a public servant and works out of a Govt office ?
How sad highly qualified people can't be in business.
Sounds very socialist to me.
Where do you find all these Social Workers that are happy to work long hours on limited salaries ?

)

I never considered £K100 P A as limited, and what long hours?

Having said that our GPs are superb.

Brian

 

[PNGBill]

I must have fouled up the quotes.

Today the doctors are well Paid??

Were they a few years ago? and will they be in a few years time?

Are there any Private GP's in the UK or is this a Govt monopoly ?

 

[GaryPanic]

GP get a fee for every patient on thier books
I don't begrudge them the money they get - my GP surgery is excellent
I can walk in and get seen - I might have to wait for an hour or so - but i will be seen - and i can book an emergency appoint and i will get 5 minutes in quick consult - if they deem it needs longer they either re-book for the next day -if really urgent they deal there and then or refer to hospital - cannot fault it - after hours care is pretty - howver i live 1 mile max from a hosptial with ER and if i felt iffy i woudl go direct to hospital (which I have done as well - and they saw me in 1-1/2 hours - gave me some eye drops and said i had done the right thing by coming to see them direct - they had special eye drops that would of been harder to get - -and they book an appoint for me with my GP as a follow up -

i cannot fault the NHS treatment - some of the buildings are a bit shabby and they are over staffed by managers - bring back matrons (I feel a carry on moment coming on )

 

[GaryPanic]

I must have fouled up the quotes.

Today the doctors are well Paid??

Were they a few years ago? and will they be in a few years time?

Are there any Private GP's in the UK or is this a Govt monopoly ?

Both private and NHS

some top private doctors also do 1 or two days NHS work at the hospitals

some top surgeons also do a lot of military work for no pay -
as some have been through military college to get the funding for their medical degrees - some do it for moral reasons ..

 

[GaryPanic]

I know! That's how I got my job...

Ahh - but your special special - not "Special"

lol...
now these people who are ...errrm.. less gifted or slightly errm simple ( no pc way to say ) -
they do a job of no real "value" but they do a job this is one that we don't want to do as its tedious etc.. - but it gives them self worth - so there is a cross over here that these jobs are doing society a favour/service
and they probably do carry their salary with what they are doing (probably not more that covering their salary)

Ahh its a mess ...

 

[oumahexi]

Ahh - but your special special - not "Special"

lol...
now these people who are ...errrm.. less gifted or slightly errm simple ( no pc way to say ) -
they do a job of no real "value" but they do a job this is one that we don't want to do as its tedious etc.. - but it gives them self worth - so there is a cross over here that these jobs are doing society a favour/service
and they probably do carry their salary with what they are doing (probably not more that covering their salary)

Ahh its a mess ...

Awe, thank you Gary, you speak such kind and lovely words then describe me and my job to a T

 

[GaryPanic]

UPdate - its now in the public domain

PENSION FREEDOM
Rules forcing savers to use their pension pot to buy an annuity that pays an income for life at age 75 will be ditched from next April. The rules applied to all private pension savings outside final or average salary schemes.
Where's the catch? There might not be one - we need to see the final proposals. Savers will have more flexibility when they turn 75.
Those who have saved larger amounts should finally be able to pass their remaining pension savings to their spouse or down to the next generation without being hit by a crippling tax charge. half a million savers bought an annuity last year. They typically pay a fixed income until death, when most or all of their pension savings is pocketed by the insurance company.
Payouts from annuities have reached record lows with the same pension pot buying less than half the income it would have 20 years ago.
Inflation-linked annuities pay such a small income that most savers opt for a fixed one.
The problem is that inflation gradually eats into its spending power. And many men fail to buy an annuity that will pay an income to their wife when they die, leaving many elderly widows impoverished and forced to rely on benefits.
Currently, those who duck buying an annuity at 75 can take an ' alternatively secured pension' where savings remain invested in the stock market. But these come with an 82per cent tax charge on death to prevent savers from bequeathing their pension to their dependants.
Details of the new regime have not been finalised, but it is likely savers will be allowed to keep their savings invested and have more control over the income they draw down.
Laith Khalaf, from financial adviser Hargreaves Lansdown, says: 'No matter when you die, your pension can now be passed on to your children rather than an insurance company. That will be music to many pension investors' ears.'
But some experts argue the rule changes will benefit only the wealthy. Adrian Boulding, from insurer Legal & General, says: 'Most people don't have enough in their pension pot to look after themselves, let alone pass on to their children.'
What can you do? unless you urgently need the income from your pension now and want to buy an annuity, it's worth waiting to hear the details of this more flexible regime.
If you turn 75 before April and are in an income drawdown arrangement, you don't need to buy an annuity.
The Government has introduced a transitional measure to ensure you don't get caught in the annuity trap, temporarily raising the age of forced annuitisation to 77.
PENSION TAX RELIEF

Complicated plans to restrict higher-rate tax relief on pensions for those earning more than £130,000 have been shelved. They are likely to be replaced by rules limiting the annual amount top earners can contribute to a pension.
Where's the catch? Whatever replaces the complex plans to restrict pension tax relief for the 300,000 highest earners must bring in the same £3.5billion a year, so if there are winners there will also be losers.
In last year's Budget, former Chancellor Alistair Darling introduced plans to gradually restrict tax relief on pension contributions from 40per cent to 20 per cent for those earning more than £130,000.
Now the Government is considering the simpler option of reducing the maximum annual pensions contribution from £255,000 to between £30,000 and £45,000.
The argument is that this would be simpler for employers while still preventing the highest earners from using pensions to dodge the top rate of tax.
What can you do? Simply wait and see.



Read more: http://www.dailymail.co.uk/money/article-1290682/The-devil-buried-Budget-detail.html#ixzz0sQnY62u4

 

[Pauldohert]

UPdate - its now in the public domain

PENSION FREEDOM
Rules forcing savers to use their pension pot to buy an annuity that pays an income for life at age 75 will be ditched from next April. The rules applied to all private pension savings outside final or average salary schemes.
Where's the catch? There might not be one - we need to see the final proposals. Savers will have more flexibility when they turn 75.
Those who have saved larger amounts should finally be able to pass their remaining pension savings to their spouse or down to the next generation without being hit by a crippling tax charge. half a million savers bought an annuity last year. They typically pay a fixed income until death, when most or all of their pension savings is pocketed by the insurance company.
Payouts from annuities have reached record lows with the same pension pot buying less than half the income it would have 20 years ago.
Inflation-linked annuities pay such a small income that most savers opt for a fixed one.
The problem is that inflation gradually eats into its spending power. And many men fail to buy an annuity that will pay an income to their wife when they die, leaving many elderly widows impoverished and forced to rely on benefits.
Currently, those who duck buying an annuity at 75 can take an ' alternatively secured pension' where savings remain invested in the stock market. But these come with an 82per cent tax charge on death to prevent savers from bequeathing their pension to their dependants.
Details of the new regime have not been finalised, but it is likely savers will be allowed to keep their savings invested and have more control over the income they draw down.
Laith Khalaf, from financial adviser Hargreaves Lansdown, says: 'No matter when you die, your pension can now be passed on to your children rather than an insurance company. That will be music to many pension investors' ears.'
But some experts argue the rule changes will benefit only the wealthy. Adrian Boulding, from insurer Legal & General, says: 'Most people don't have enough in their pension pot to look after themselves, let alone pass on to their children.'
What can you do? unless you urgently need the income from your pension now and want to buy an annuity, it's worth waiting to hear the details of this more flexible regime.
If you turn 75 before April and are in an income drawdown arrangement, you don't need to buy an annuity.
The Government has introduced a transitional measure to ensure you don't get caught in the annuity trap, temporarily raising the age of forced annuitisation to 77.
PENSION TAX RELIEF

Complicated plans to restrict higher-rate tax relief on pensions for those earning more than £130,000 have been shelved. They are likely to be replaced by rules limiting the annual amount top earners can contribute to a pension.
Where's the catch? Whatever replaces the complex plans to restrict pension tax relief for the 300,000 highest earners must bring in the same £3.5billion a year, so if there are winners there will also be losers.
In last year's Budget, former Chancellor Alistair Darling introduced plans to gradually restrict tax relief on pension contributions from 40per cent to 20 per cent for those earning more than £130,000.
Now the Government is considering the simpler option of reducing the maximum annual pensions contribution from £255,000 to between £30,000 and £45,000.
The argument is that this would be simpler for employers while still preventing the highest earners from using pensions to dodge the top rate of tax.
What can you do? Simply wait and see.



Read more: http://www.dailymail.co.uk/money/article-1290682/The-devil-buried-Budget-detail.html#ixzz0sQnY62u4

I'm guessing since that post Gary seems to have stopped things dead, that like me, most other people have read it and gone - uh?

 

[oumahexi]

I'm guessing since that post Gary seems to have stopped things dead, that like me, most other people have read it and gone - uh?

Phew, I thought it was just my dotage causing my confusion It's a bit like any other government statement, loads of words with very little actual meaning Sorry Gary, you get 10/10 and you have now reinforced my theory that we need to vote you to run our country

 

[GaryPanic]

basically it means you keep your money longer ..... before 9or event if ) you have to buy a pension annuity ...
and you can transfer it down to your children 9if they deserve it)

a lot of info - but quite important

 

[Pauldohert]

basically it means you keep your money longer ..... before 9or event if ) you have to buy a pension annuity ...
and you can transfer it down to your children 9if they deserve it)

a lot of info - but quite important

Only if you have a pension! I shall be a government employee - and get a small sum for doing sod all when I reach 70 ish.