According to recent reports in the pensions news, Her Majesty’s Revenue and Customs will give those with small pensions a reprieve from an extra burden of tax this year. Tax on these pensions has been ignored for many years, but the taxman had decided to backdate tax to April 2007. This measure has been renounced and changed to backdating from April 2008.
Pension scheme experts say the taxman has provoked concern and worry with their measures, and many claim that the tax hike will radically influence the income of an elderly person.
Pension officials have called that tax situation a mess, with pensioners suffering at the hands of an incompetent taxman. With pensioners strongly affected by increases in household bills, finding extra money relating to their pension is seen as an extra kick in the teeth when it is needed least.
Pension help urgent from the taxman
Pensions Quote Line
0845 108 0505
Pension help urgent from the taxman
Wed, 04 Jun 2008
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1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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