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Saving Gateway - Carers UK Forum

Saving Gateway

Share information, support and advice on all aspects of caring.
If this has already been posted, apologies. But thought it looked quite interesting.

http://www.direct.gov.uk/en/MoneyTaxAnd ... G_10010450
I think we had a thread about this when it was first announced that carers would be included in the scheme but always good to remind people that these things exist.

Here's the link to our press release from when the announcement was made earlier this year for those that missed it:
http://www.carersuk.org/Newsandcampaign ... 1235654460
Bizarre scheme. Example:

A carer on Carers Allowance who already has an occupational pension of £25,000 a year can save £300 a year for two years into this scheme, making £600, and the government will top it up by another £300, tax free.

Whilst a carer on carers benefit with no occupational pension won't have any money to save.

Which clown dreamed this one up - its redistributing money from the poor to the rich again isnt it? Image
As a carer with an occupational pension of just £7-000 per year i can not access any benefits at all except the carers allowance which as we all know we have to work for 35 hours per week ooops i forgot i get 25% council tax discount but the biggest kick in the teeth is i pay TAX on my low pension - allowance .
Thats one of the reasons why the removal of attendance allowance would hit us hard as we use this to subsidise my low income the old doll in a roundabout way pays me to be her carer what can we expect from the local authority when they have the attendance allowance cash to spend and as its means tested we will get nowt at all .
I think we should be demanding that the government properly evaluates this scheme to see who exactly is benefiting from it. I am quite convinced that the "worried well" - i.e folk who have some spare cash in hand - will do much better than those on their uppers. The really wealthy will not be bothered using it, the maximum gain of £300 is too small for them to even get out of bed for.

At the moment I am trying to calculate how much of my earnings I can squirrel into a tax-free private pension scheme so that my earnings minus allowable expenses (which include 50% of that tax free pension contribution) drop enough below the earnings threshold of £95 for me to go back onto Carers Allowance ... apparently I can also claim my accountants fees for helping me to do this. Is this all some kind of absurd joke, dreamed up by a grinning Beveridge from beyond the grave to torment working carers? No, but I wish it were.

Am I abusing the system? No, just using the rules that exist to get back as much of the tax I contribute as possible. As a carer, income maximisation from all sources is a key part of my duty to enable my son to enjoy a reasonable quality of life. I just wish it wasn't so complicated or time consuming. I would rather be taking him swimming...