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Over 65 or coming up to 65 make sure you have got your full tax allowance.

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  • pollypenny
    pollypenny Posts: 29,433 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 18 July 2009 at 2:11PM
    You can claim the increased tax allowance (9,000+) for the whole year in which you will be 65.

    OH was 65 at end of March. I spotted the loop-hole in Saga mag, so he claimed and had a good tax rebate and the allowance for the year he was mostly 64!
    Member #14 of SKI-ers club

    Words, words, they're all we have to go by!.

    (Pity they are mangled by this autocorrect!)
  • home_alone
    home_alone Posts: 755 Forumite
    As long as your earnings are less than £22900 you are allright but its funny how they have this knack of clawing things back.

    gary
  • pollypenny
    pollypenny Posts: 29,433 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You lose £1 for every £2 your income is over that £22,900. For most people it's worth claiming.

    The Guardian did a feature on this last year. Apparently it's widows, who have inherited half their husbands pension, who seem to be falling into this trap. It was designed to stop the wealthy benefiting, but working against the wrong people.
    Member #14 of SKI-ers club

    Words, words, they're all we have to go by!.

    (Pity they are mangled by this autocorrect!)
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