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Personal Savings Allowance for a Pensioner

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  • jonnypb
    jonnypb Posts: 330 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker

    I suspect that there is more to this than you are aware of.

    Maybe they have a large amount of untaxed interest or dividend income?

    Or they are possibly completing tax returns unnecessarily but that may suit them for some reason.

    Each of the pensions will have a tax code (assuming they aren't paid from abroad), these might typically look like 100L (main one in HMRC's eyes with State Pension factored in) plus two with BR (20%) or D0 codes (40%).
    Yes it would seem so, I will try and get some more information from them.
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