State Second Pension - too much tax
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S2P - How complicated?
This comes as a shock as I had been surviving on very little money following injury for six years. Has anyone else experienced a problem such as this?
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For 35 years I worked and was deducted high national insurance contributions towards a SERPS pension - (known as State Second Pension). Now I am retired, I am told that 7% of my State Pension is to be clawed back as tax!
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| 30-3-2008 | 30.03.08 Why do people over 65 and born after 1935 have a low tax code ie 200- 300 yet
anyone under 65 or born before 1935 have a code of 500-600. I pay tax on everything over £40 odd pound a week yet if I was in the higher tax code bracket I could earn over £100 pound a week before ta...more | Kippermarc1 |
| 02-9-2007 | Doreen doesn't mention that her few savings, probably came from income that has already been taxed when she earned it. Now the savings interest to be declared as another source of income, may have had 20% taken off it by a building society, for example. But if the rate of inflation is not much...more | Gordypal |
| 22-6-2007 | The main thing wrong with self assessment tax is the stupid tax form they give you to fill out. The boxes on it simply do not match up with the tax documentation you are given, like the P60 and P11d etc.. So what should take literally 2 minutes takes hours. And the language used on the form is some...more | Domiciled tax slave |
| 22-6-2007 | Any kind of tax is complicated these days. I wish that they would make tax matters and in particular self assessment a lot clearer. | Roger |
| 09-2-2007 | Actually tax has become easier in recent years. It's simple. You will pay tax on everything you earn. There are no real special allowances any more, no rebates, no mortgage discounts: nothing.
The only way you can avoid tax is by not declaring your income, very difficult to do with a State Pe...more | Tax-a-doodle-do |
| 07-2-2007 | Now you're pensioned you have all the time in the world to read that book on Self-Assessment which none of us who are still employed ever have had.
As an oldie you probably will be able to summon the assistance of institutions like "Help the Aged" or the "Citizens Advice Bureau...more | How and What To Do |
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