10pence tax band

[Grier78]

Just back tracking a bit apparently the removing of the 10% tax band affects pensioners as now their pensions are taxed @ 20% is this right???

A proportion of their income yes. However it mainly affects pensioners younger than 65 as over that age the tax allowance increase a lot.

[cia260895]

Admittedly i have no clue how all the finances are controlled/regulated

but in laymans terms the government taxes money they give out?

(nice gig)

[redsimon]

Admittedly i have no clue how all the finances are controlled/regulated

but in laymans terms the government taxes money they give out?

(nice gig)

to be fair to them they do it very effectively by reducing the personal allowance of people on state retirement pension  so it takes very little cost. Whether pensioners should be taxed at all is obv another questionl.