I am 75-years-old and have paid income tax apart from two weeks sick pay for 60 years as I’m still working part-time soon to retire; about time.
The Labour government in their wisdom have taken away £200 because I’m not on benefits as my state pension is £1,053 per month x13 = £13,689 per year as I did not opt out of Serps.
The personal allowance is £12,570 so I’m going to be taxed on the difference which is £1,119 at 20 per cent = £223.80 added to the £200 loss of fuel payment = £423.80.
Labour has said keeping the triple lock means next year I shall be better off by £460, add that to my state pension means it will be £14,149. I shall owe the HMRC £315.80 losing the £200 heating allowance means in my book £515.80.
I’m not too poor, nor rich as I have some savings I expect Ms Reeves will try and take some of that. I can buy my own suits and glasses and I don’t have the use of my mates penthouse apartment in London or New York.
Trevor Taylor
Broadgate
Whaplode Drove
