Will all pensioners have to file a tax return!

Adyinvestment

Never going to work.

The majority of the pensioners I know have no savings/pensions of their own and rely on state pension alone, there is no way on this earth they will have anything to do with a tax return.

It doesn't matter if it was a legal requirement they simply wouldn't give a monkeys.

If it does come down to the state pension alone being in a tax bracket, the government would have to do this at source (perhaps as previously mentioned the simple assessment could be adjusted to cover this), or I envisage a whole new state pension tax department/army.

Prism

Adyinvestment said:

Never going to work.

The majority of the pensioners I know have no savings/pensions of their own and rely on state pension alone, there is no way on this earth they will have anything to do with a tax return.

It doesn't matter if it was a legal requirement they simply wouldn't give a monkeys.

If it does come down to the state pension alone being in a tax bracket, the government would have to do this at source (perhaps as previously mentioned the simple assessment could be adjusted to cover this), or I envisage a whole new state pension tax department/army.

Interesting - all of the pensioners I know have additional pots of cash, DB pensions, properties and/or business interests. I don't know of a single family member or friend that rellies on the state pension. Tax is worked out for them automatically and paid using tax codes. I am sure that the government will work something out to make it just as simple for those just on the state pension, without being forced to increase the tax free allowance for all.

Dazed_and_C0nfused

Adyinvestment said:

Never going to work.

The majority of the pensioners I know have no savings/pensions of their own and rely on state pension alone, there is no way on this earth they will have anything to do with a tax return.

It doesn't matter if it was a legal requirement they simply wouldn't give a monkeys.

If it does come down to the state pension alone being in a tax bracket, the government would have to do this at source (perhaps as previously mentioned the simple assessment could be adjusted to cover this), or I envisage a whole new state pension tax department/army.

There is nothing to adjust, Simple Assessment already covers this situation. 

In fact I think an earlier poster confirmed they received a Simple Assessment each summer, purely because of tax due on the State Pension, with details of what needed to be paid the following January.

MattMattMattUK

Eldi_Dos said:

@ MattMattMattUK 
How does that sit with your stance to support multi million pound bonuses to CEO of energy company while customer complaints were soaring and many people worried about rising fuel costs.

Nice attempt at a straw man and trying to conflate multiple issues with other irrelevant factors, but I will give some attempt at an answer. 

Firstly, I fail to see how streamlining the tax system (combining IT and NI) and letting the personal allowance erode with time connect to anything you have said. Again, most other countries also link pensions to a percentage of average earnings rather than applying arbitrary annual rises, so linking it in that way would make sense. 

Eldi_Dos said:

How does that sit with your stance to support multi million pound bonuses to CEO of energy company

CEOs of companies should be remunerated as per their contracts, set by the board and shareholders.

Eldi_Dos said:

while customer complaints were soaring

Customer complaints were increasing yes, but legitimate complaints were not. The vast majority of people were complaining about rising prices, about Direct Debit rises etc. That is what happens when energy prices were rising and people do not understand, hence the incredibly high rejection rate for the complaints from both the suppliers and Ofgem. 

Eldi_Dos said:

and many people worried about rising fuel costs.

What has their worry got to do with anything? Should a CEO not be paid because people are worried about rising costs, about about VPs, managers, supervisors? At what level should remuneration stop because consumers do not like the fact that prices are rising? 

MattMattMattUK

Adyinvestment said:

Never going to work.

The majority of the pensioners I know have no savings/pensions of their own and rely on state pension alone, there is no way on this earth they will have anything to do with a tax return.

It doesn't matter if it was a legal requirement they simply wouldn't give a monkeys.

If it does come down to the state pension alone being in a tax bracket, the government would have to do this at source (perhaps as previously mentioned the simple assessment could be adjusted to cover this), or I envisage a whole new state pension tax department/army.

However overall 71% of pensioners have a private pension an because of automatic enrolment now nearly everyone in work in the UK has a pension, although that figure is somewhat lower for the self-employed. 

Adyinvestment

Dazed_and_C0nfused said:

with details of what needed to be paid the following January.

It's this part that will need to be adjusted, a lot of these people will not save this themselves, it will need to be done for them. Also in such a way that it does not all come out in one go unless it is small.

As most do receive other forms of benefits though I guess it would all work out somehow.

Adyinvestment

MattMattMattUK said:

However overall 71% of pensioners have a private pension an because of automatic enrolment now nearly everyone in work in the UK has a pension, although that figure is somewhat lower for the self-employed. 

My extended family on my partners side all come from a large estate which are mostly on benefits (what I would have called a council estate in the past) - there are still large amounts of retired people like this which are very much embedded in "the system"

Eldi_Dos

@MattMattMattUK
As seems to be the case so often these days, you pay their money and take your choices.

molerat

Adyinvestment said:

Dazed_and_C0nfused said:

with details of what needed to be paid the following January.

It's this part that will need to be adjusted, a lot of these people will not save this themselves, it will need to be done for them. Also in such a way that it does not all come out in one go unless it is small.

As most do receive other forms of benefits though I guess it would all work out somehow.

Little old lady wrapped in a blanket sitting in front of her 1 bar electric fire telling the reporter about how they are reducing her benefits to pay the tax man when all she receives is a state pension - they will raise the personal allowance before that happens !

molerat

MattMattMattUK said:

CEOs of companies should be remunerated as per their contracts, set by the board and shareholders.

Unfortunately the remuneration of CEOs is set by committees on a you scratch my back I'll scratch yours basis.  The average Joe shareholder has no say in the matter.  That is why CEO remuneration increase this year has been over double that of the average worker