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Over 65 Tax Allowance
Comments
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Don't start me off on this one! My father has been telling HMRC that he was over 65 for the last 5 years and STILL they are taxing him wrong. We go through the same rigmarole every year having to complete tax returns, etc!!
All HMRC staff tell him is that "it is his responsibility to tell them"!
Thanks to MSE, I am mortgage free!0 -
The age-related personal allowance starts in the tax year that you become 65. It is not connected to State Pension age at all.sebastianj wrote: »Interesting, did not know this, so if someone turns 65 in January 2009, his tax allowance will start from 6th April 2008, is that right? What about women, does that start from 60? and what if she is not entitled to a state pension?I am an Accountant. You should note that this site doesn't check my status as an Accountant.All posts on here are for information and discussion purposes only and should not be seen as professional advice.0 -
Dear all, It all sounds professional, but I still don't get it.
kind rgds
seb.0 -
angelavdavis wrote: »Don't start me off on this one! My father has been telling HMRC that he was over 65 for the last 5 years and STILL they are taxing him wrong. We go through the same rigmarole every year having to complete tax returns, etc!!
All HMRC staff tell him is that "it is his responsibility to tell them"!
Is your dad entitled to all his age allowance or only some of it?
If he is only entitled to some of it because his income is above the entitlement threshold then he does have to complete a tax return each year that's the only way HMRC can assess how much to give him in his code the following year. If he is entitled to all of it and assuming he doesn't have any income such as land and property, foreign etc then get him to write a letter of complaint explaining that he thinks he should not be completing a return every year and asking for him to be removed from the SA system.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
The age-related personal allowance starts in the tax year that you become 65. It is not connected to State Pension age at all.
You are right. It isnt connected monetarily wise. However, the age allowance age is going up in line with the increases in state pension age. As is pension credit qualifying age. So, all three will end up at age 68 as the starting point.
Although that has no impact on this case. Just for those much younger
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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