Helping Pensioners

Good morning everyone, Mitch Young from Lerman Jacobs Davis the young dynamic accountants who are committed to saving our clients hassle and money

I love dealing with pensioners – This week I helped a pensioner client of mine by saving him over £120 a year in tax

The way that one pays tax on a State Pension depends on whether the individual is employed or not:

• if you're working, you'll pay tax through your employer's PAYE scheme depending on the amount you earn
• if you're not working, you'll need to pay tax through Self Assessment by completing a tax return

My client completes tax returns and has state pension income that he pays tax on but after checking the full breakdown of what made up the state pension I found out it included, attendance allowance and winter fuel payments which are not taxable and he has always been paying tax on it !!

I thereby requested a repayment of tax for him and saved him £120 a year moving forward. No doubt he was delighted and fully appreciated my thorough approach to his situation 

Furthermore if you are a pensioner who has income less than the personal allowance and you have income such as bank interest that is taxed at source we can claim that tax back for you

Thus this week I would love to review any tax affairs of pensioners who you may know as I am sure I can help them potentially save tax

That’s Mitch Young from Lerman Jacobs Davis, helping you and your business to count

mitch@ljd.uk.com