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Taxing the elderly
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Thanks - but as she is stll averaging 5.5% ish on her savings at the mo - she is still better off paying a bit of tax and claiming back the overpayment - its not a problem, as she has us to deal with it on her behalf. Just really wanted to flag up that it would be a nightmare for anyone who did not have help and there must be loads of elderley people in her position who don'y have help and miss out on their repayment.
Sort of feel it should be the otherway round - that if all yr tax is due to savings interest etc it should initially be untaxed and the revenue should then ask you to pay what you owe.0 -
It works like that if you have more than 50,000 pounds.
Don't ask me why, it does not make sense to me.
http://forums.moneysavingexpert.com/showthread.html?t=15705550
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