1.7 million pensioners now face ‘misery’ of filing tax return

One in five pensioners now have the “misery” of having to submit an annual tax return, a Freedom of Information request has found.

The request, submitted by Royal London director of policy Steve Webb, asked the government how many people over the age of 65 submitted tax returns for the latest year available and the same figures for five years earlier.

HM Revenue and Customs revealed that in 2015/15 1.7 million people over the age of 65 submitted a tax return and, of these, 275,000 were over the age of 80. This compares to 1.6 million in 2010/11, of which 304,000 were over 80.

Webb explained that the increase is due to a mixture of growth in the pension population, a rise in pensioner incomes and the effects of the ‘granny tax’ where George Osborne froze pensioner tax-free allowances in the 2012 Budget.

“Our FOI shows that 1.7 million pensioners each year face what I’ve called the misery of filling in an annual tax return, and over a quarter of a million of these are over the age of 80; retirement and even old age don’t get you off the joys of the annual tax return,” Webb said.

    Share Story:

Recent Stories


Private markets – a growing presence within UK DC
Laura Blows discusses the role of private market investment within DC schemes with Aviva Director of Investments, Maiyuresh Rajah

The DB pension landscape 
Pensions Age speaks to BlackRock managing director and head of its DB relationship management team, Andrew Reid, about the DB pensions landscape 

Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs
Podcast: A look at asset-backed securities
Royal London Asset Management head of ABS, Jeremy Deacon, chats about asset-backed securities (ABS) in our latest Pensions Age podcast

Advertisement Advertisement Advertisement