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House Price Crash forum > Investment > Investment in general
Fed Up
I've read a lot about this, not least from BTLs justifying why they put their money into property instead. I'm not doubting that Mr Bean did steal from occupational pension funds - at the time I only had a couple of years in mine - but what exactly did he do? I'd be grateful if someone could post some relevant links - thanks.
jimmy_joe
QUOTE (Fed Up @ Feb 10 2008, 05:55 PM) *
I've read a lot about this, not least from BTLs justifying why they put their money into property instead. I'm not doubting that Mr Bean did steal from occupational pension funds - at the time I only had a couple of years in mine - but what exactly did he do? I'd be grateful if someone could post some relevant links - thanks.


http://news.bbc.co.uk/1/hi/uk_politics/6521305.stm

He ended the subsidy paid from tax received from working people. If you own a share in a company and the company pays you a £90 dividend then you tell the tax man that you recieved £100 and paid £10 tax. The £10 never existed but pension funds, and until recently ISAs, could "reclaim" it. Ending this ridiculous sitation was tantamount to a "£100bn tax raid" if you're a Tory. Guess which party's supporters were subsidising the other's under the old rules?
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