Budget November 2025

[Londonlisa2001]

Do they take bricks as payment instore for food and energy bills now, didnt realise.

No. But you can release equity from your house if you need cash.

 

[Londonlisa2001]

Well' they'll hand those houses down to their children and grandchildren and why shouldn't they, they worked hard and long enough to pay for their houses and usually at least over three times the houses value, in most cases with 40yrs mortgages, wife and I are in our 60's and we only paid ours off this year.

Yes, I understand that.

But what you are in effect doing therefore, by saying pensioners should pay no tax, is asking youngsters now, many of whom will never be able to own their own house, to pay more tax so that your kids will inherit as much as possible. It’s a constant widening of the wealth divide between those who are lucky enough to have parents who own a house and those who don’t. Because those that don’t will NEVER be able to make that back because of the way the housing market has gone. Through no fault of their own.

 

[Niigata Jack]

That’s for the estate of an individual?

I'm approaching 65 and I've nowhere near that figure and neither am I ever likely to attain those figures, all I know is that I'd like to have a few quid to spare when I do retire in November 2027 although I very much that I'll be able to afford to retire without ending up on queer st, Wife doesn't retire until November 2029 so I just as well work on, I'm thinking more and more along those lines as well.

 

[Cooperman]

I'm approaching 65 and I've nowhere near that figure and neither am I ever likely to attain those figures, all I know is that I'd like to have a few quid to spare when I do retire in November 2027 although I very much that I'll be able to afford to retire without ending up on queer st, Wife doesn't retire until November 2029 so I just as well work on, I'm thinking more and more along those lines as well.

You have done your boys proud, Max. You might not be worth millions, but your property is paid for and your work ethic is undeniable.

 

[rockinj]

There’s no limit on the total amount you can hold in ISAs. It’s just a limit of adding £20k per year to the total. All interest on all iSAs is tax free. Not just on one every year.

You could have half a million quid in ISAs and the interest will be tax free.

Added:

One of the biggest bug bears of mine is that people aren’t taught about this stuff.

It’s actually quite shocking the lack of understanding of very basic financial stuff really

 

[Londonlisa2001]

I'm approaching 65 and I've nowhere near that figure and neither am I ever likely to attain those figures, all I know is that I'd like to have a few quid to spare when I do retire in November 2027 although I very much that I'll be able to afford to retire without ending up on queer st, Wife doesn't retire until November 2029 so I just as well work on, I'm thinking more and more along those lines as well.

Seriously, get yourself to see the bank or building society and talk to them about stuff like ISAs to protect as much of your income as you can. Don’t forget that you can be putting a few hundred here and there into ISAs (and your wife) to get as much as possible into tax free savings.

 

[rockinj]

Get off your high horse and hang on a minute now is it a few bob is exactly that it isn't mega wealth a few grand maybe, I wasn't or intending to include those with 100 or 100's of thousands or millions

You’ve literally said pensioners shouldn’t pay tax now you’re moving the goalposts because you’ve been challenged

 

[Niigata Jack]

Yes, I understand that.

But what you are in effect doing therefore, by saying pensioners should pay no tax, is asking youngsters now, many of whom will never be able to own their own house, to pay more tax so that your kids will inherit as much as possible. It’s a constant widening of the wealth divide between those who are lucky enough to have parents who own a house and those who don’t. Because those that don’t will NEVER be able to make that back because of the way the housing market has gone. Through no fault of their own.

My son is 32 and doesn't own any property he's come back because of the extortionate rent he was paying on his flat, he's back to travelling to Cardiff now when he was living close by to his job, our youngest who is 29 is severely disabled so he'll need looking after if he survives us.

 

[Ringwood]

It may surprise you to know that the current average total wealth of UK pensioners (65 plus) is £730k.

The median wealth (which is a figure that’s doesn’t get distorted by those at the very top) is £467k.

And you don’t think they should pay any tax?

Does this include property assets?

 

[Londonlisa2001]

My son is 32 and doesn't own any property he's come back because of the extortionate rent he was paying on his flat, he's back to travelling to Cardiff now when he was living close by to his job, our youngest who is 29 is severely disabled so he'll need looking after if he survives us.

I understand. And it’s great that you will be able to help them out.

But why should your 32 year old be paying more than he already does in tax so that someone who is 70 with a house fully paid for and a final salary pension scheme plus a couple of hundred grand in savings pays no tax and goes on half a dozen holidays every year?

And that same 70 year old should be paying their fair share of tax so that your youngest is properly supported for his needs for his whole life without it all falling on you.

 

[Londonlisa2001]

Does this include property assets?

Yes.

 

[Niigata Jack]

You’ve literally said pensioners shouldn’t pay tax now you’re moving the goalposts because you’ve been challenged

I'm not moving any goalposts, who has challenged me ? I'm not answerable to anyone on here and certainly not to you. it was obvious to anyone with any sense that I wasn't talking about these with pensioners with wealth.

Go away.

 

[Ringwood]

Mumbles, Gower, Derwen Fawr.
There are loads of pensioners who have paid off their mortgages and are living in properties worth well over half a million in these areas to start with.

That will be the new semi mansion tax incoming.

 

[Londonlisa2001]

That will be the new semi mansion tax incoming.

It will be interesting to see what the Welsh government do about mansion tax. Do they follow suit? Do they impose different limits?

It will kill them to come up with a solution that doesn’t, for once, hurt people in Cardiff more than the rest of Wales…

 

[Londonlisa2001]

I'm not moving any goalposts, who has challenged me ? I'm not answerable to anyone on here and certainly not to you. it was obvious to anyone with any sense that I wasn't talking about these with pensioners with wealth.

Go away.

To be fair, I think a lot of the disagreement has arisen due to a misunderstanding of the amounts pensioners can have within ISAs rather than a genuine disagreement about whether people should or shouldn’t pay tax on interest at different levels of wealth.