Pensioners paid £4.4bn more in income tax than UK government claimed

Pedro Gonçalves
clock • 2 min read

The UK government has been accused of "sneaking out" figures after it emerged pensioners paid £4.4bn more in income tax on their pensions in 2016-17 than had previously been expected. Retirees actually paid £17.9bn in income tax in 2016/17, compared to a previously published estimate of £13.5bnn: a £4.4bn difference compared to the original forecast. In its pension tax relief data published this week, HM Revenue & Customs stated in a footnote that the calculation of tax being paid by pe...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login