A brilliant piece reproduced from Ripped-Off Britons:
At last, we know why governments in recent decades, both “left” and right and right-ish, have thrust more money at the wealthy and snatched more from the less well provided for.
It is because it is all too complicated for us, having all that money. Which is why the recent Budget included a ‘major simplification’ for pensioners.
We have to thank the Chancellor, George Osborne who made this clear in his 2012 Budget speech:
“We should also simplify the age related allowances – which the Office of Tax Simplification have recently highlighted as a particularly complicated feature of the tax system.
The National Audit Office points out that many pensioners don’t understand them.
These allowances require around 150,000 pensioners to fill in self-assessment forms, and as we have real increases in the personal allowances, their value is already being eroded away.
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