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Searching for: researcher is "public accounts committee"

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Dealing with the tax obligations of older people
House of Commons Committee of Public Accounts report
Public Accounts Committee
25 Feb 2010 United Kingdom Taxation
The House of Commons Committee of Public Accounts has published a report entitled "Dealing with the tax obligations of older people" which recommends that HM Revenue & Customs (HMRC) should devise simpler systems so that older people can have peace of mind about their tax affairs. People over state pension age now make up 18% of taxpayers yet many pay more tax than necessary due to a lack of understanding. Errors occur because people’s tax affairs often become more complicated when they reach pension age and HMRC’s systems do not cope well with their multiple sources of income. An estimated 1.5 million older people have overpaid tax by £250m because of discrepancies between HMRC’s records and those of their employers and pension providers. This report concludes that HMRC should have a more coherent plan for meeting the needs of older people efficiently and effectively.

More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Feb 2010 or click here (this link will not work in all circumstances). For further information about Perspective click here.

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