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Saturday, 24 March 2012

Saturday, March 24, 2012 Posted by Jake 5 comments Labels: , ,
Posted by Jake on Saturday, March 24, 2012 with 5 comments | Labels: , ,

At last, we know why governments in recent decades, both “left” and right and right-ish, have thrust more money at the wealthy and snatched more from the less well provided for. 


It is because it is all too complicated for us, having all that money. Which is why the recent Budget included a 'major simplification' for pensioners.

We have to thank the Chancellor, George Osborne who made this clear in his 2012 Budget speech:

We should also simplify the age related allowances - which the Office of Tax Simplification have recently highlighted as a particularly complicated feature of the tax system.

The National Audit Office points out that many pensioners don't understand them.

These allowances require around 150,000 pensioners to fill in self-assessment forms, and as we have real increases in the personal allowances, their value is already being eroded away.

So over time we will simplify the tax system for pensioners by doing away with the complexity of the additional age-related allowances for anyone reaching the age of 65 on or after 6th April 2013 and I will freeze the cash value of the allowance for existing pensioners until it aligns with the personal allowance.

This will protect the existing level of allowance pensioners have, while introducing a single personal allowance for all.

It is a major simplification.”

In summary:
  • Age related allowances are complicated.
  • The National Audit Office says many pensioners don’t understand them.
  • Pensioners have to fill out self-assessment forms.
  • Conclusion: to simplify things, we will take these allowances away.
  • “It is a major simplification”, says Osborne.
In the words of Ros Altmann, the Director General of SAGA:


Could it be it isn’t just the government? Could it be all companies – banks, electricity, rail etc. – are doing us a favour by ripping off our money? Because having money is just too complicated for us? Well thank you so much!

5 comments:

  1. ...of course, take away the money as they don't understand how to get it! Never thought about, I don't know, simplifying the form that makes no sense? Argh.

    ReplyDelete
  2. but somehow they manage to claim it. hmrc just need to join the pain English campaign. that's all that's wrong, as said by anonymous.

    ReplyDelete
  3. Why haven't they just simply added the unclaimed amounts to the pensioners pensions? Or erm, is that too complicated a procedure for DHSS staff to contemplate.

    ReplyDelete
  4. Makes me feel guilty to still be alive. Tories will soon introduce an euthanasia pill for everyone reaching three score years and ten. We are much too stupid to work thing out for ourselves and not profitable enough for their privatised NHS. But until then we DO have a VOTE, so Tories...UP YOURS.Only two years left.

    ReplyDelete
  5. MILLIBAND HAS FAILED US TOO I'M SENDING HIM MY MEMBERSHIP CARD BACK UNLESS HE QUICKLY LEAPS TO THE DEFENCE OF THE VULNERABLE AND COMMITS TO UNDOING THE WRONGS DONE TO DISABLED PEOPLE

    ReplyDelete

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