1 million married couples missing out on tax break

More than a million married couples across the UK are eligible to reduce their tax bill with the marriage allowance, according to HMRC. The marriage allowance allows spouses, and couples in civil partnerships, to transfer £1,190 of their personal allowance to their...

Over-40s ‘should pay new tax to fund elderly care’

A new tax should be paid by the over-40s to help cover the costs of elderly care, MPs have said. Two House of Commons committees have published a report calling for a new social care premium to be introduced, to ensure everyone who requires support in old age is able...

Working pensioners pay £8.6bn in income tax

People who continue to work past their state pension age are paying the highest amount of income tax in 20 years, according to a report. Research from Aegon found that pensioner households, which contain at least 1 person still in work, are on course to pay £8.6...

OTS backs pension tax reform

The Office of Tax Simplification (OTS) has called for reform to the tax system for pension fund withdrawals, which it says is not widely understood by most people. The report raised particular concerns with the use of emergency tax codes for lump sum withdrawals from...

1 in 3 expect 6-month wait for inheritance

More than a third of people underestimate the time it might take to receive their inheritance, according to research from Co-op Legal Services. In a survey of 2,000 UK adults, 37% said they expect to wait 4-6 months to receive their inheritance. In reality, the...
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