Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Explanation required | |
Posted by: | Andy Pease | |
Date/Time: | 29/09/14 21:31:00 |
Actually Vanessa, they do take company pensions into account.I have to pay income tax on my pension and whats left of my pension is offset against my job seekers allowance so I end up with virtually nothing of my pension and because of my savings (which was taxed when I earned the money, and the interest is again taxed ) I am not able to claim any other benefits, apart from DLA which anybody can claim if they fit the criteria.To try to get some extra income, I trade in stocks and shares using my money that has already been taxed twice.Any profits I make are taxed at 28%.So the final returns I get from my transactions have been taxed 3 times.Whatever I then buy with this cash also attracts 20% VAT So about 80% of my money goes on tax, a far greater amount than somebody earnjng £250k a year pays. |