"Scrap pension tax relief ": Moneywise readers' best comments and letters from November

18 December 2018

Each month we publish the best comments, emails and letters from our readers the star of which will win a £50 M&S giftcard. Here are the best of November 2018

Think twice before cutting someone out of your will

Further to your feature on disinheritance (Moneywise, September issue), I would pause for thought before disinheriting a child. Our family still talks about the relative who disinherited one child to favour her youngest son. When he died years later, all the house money went abroad with the woman he’d married late in life.

But 50 years on, her descendants call her the ‘wicked grandmother’. I wonder how she would have felt about this?

DB/ via online comments

Is pensions tax relief necessary?

Now that pensions are mandatory (since auto-enrolment was implemented), I would have thought that there is no need to incentivise pension contributions – tax relief could easily be phased out on those grounds. In the interim, I can see pension tax relief becoming flat rate, as it would mirror the move to flat-rate relief in other areas.

MT/ via online comments

Are you an ‘accidental’ or a ‘pension pot’ landlord?

There is no such thing as an ‘accidental landlord’; you either choose, for whatever reason, to become a landlord or not.

‘Temporary’ or even possibly ‘reluctant’ landlord maybe, but never accidental.

You never hear of people buying houses as being accidental, so please stop propagating this ridiculous phrase.

YB/ via online comments

I’m not too concerned about pension pot landlords; it’s those who borrow money to buy a property and then charge rent to pay off the loan and interest, and to receive a profit.

This pushes up property prices and increases the value of their ‘investment’. As you can guess, these views usually attract the “oh, you’re a socialist” comments, but I simply reply: “No, I’m a parent”.

BB/ via online comments

The £50 note gets a much-needed reprieve

The fact is the £50 note is now more like the £20 note 15 to 20 years ago, due to inflation. In London, it will just about pay for a medium-sized round of drinks or a low-priced, reasonable meal and drinks for two. It is now a reasonable-sized currency.

In markets, festivals, etc, one £50 note probably isn’t even enough for a day. So it is now entering its hey-day, removing it would have been a backward step.

DR/ via online comments

Which scientist would you like on the new £50 note?

I would like to nominate Sir Sydney Camm who designed the Hawker Hurricane fighter aircraft, which – along with the Spitfire designed by Sir Frank Whittle – paid a large part in winning the Battle of Britain.

NW/ via online comments

The nomination should go to Alan Turing. His contribution to science was of enormous value. He also saved many thousands of lives and made a very significant contribution to the Allies winning the war.

He was terribly persecuted by the British legal system and deserves real recognition for his outstanding contribution to our freedom today.

AE/ via comments

I would like to nominate Stephen Hawking (pictured). His disability did not stop him conducting his scientific work, making a huge contribution to the black-hole theories and the origins of the universe.

BS/ via comments

I would like to nominate James Clerk Maxwell – the ‘Scottish Einstein’. When I discovered he had married into my family, I read up on him and was profoundly impressed.

Einstein revered Maxwell – what more of an accolade could one have!

WH/ via comments

I would like to nominate Rosalind Franklin (pictured below) who has been shamefully ignored in the discovery of DNA. Without her work, Crick and Watson would not have been able to make great strides in demonstrating the double helix which led to them being jointly awarded the Nobel Prize.

CK/ via comments

Haven’t we learnt anything yet? Don’t ask the public. Remember Boaty McBoatface!

JN/ via comments

Moneywise says: Alan Turing was the most popular choice in our readers’ comments. If you would like to nominate a scientist for the new £50 note, vote online at Bankofengland.co.uk/banknotes/50-pound-note-nominations by 14 December 2018.