Article Abstract:
The basic state pension is available to everyone in the UK who has reached the age of 60, for a women, and 65, for a man, as long as the individual has paid enough of the right type of National Insurance. State pensions are paid without tax deducted, although it may be necessary to pay tax on them. The Age-related allowances which are higher than the basic personal allowance set by the Inland Revenue may apply to people who are 65 or over during the 1996-1997 or whose spouse is in this age group.
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Article Abstract:
Financial advice is given for the taxing of older people's taxation, with information on National Insurance contributions, state pensions and tax relief.
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Article Abstract:
A guide to the taxation of older people past retirement age in the UK is presented, with focus on the state pension and extra tax allowances.
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