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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15946
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am a 91 year old pensioner - I have £600.00 State Pension

Resolved Question:

I am a 91 year old pensioner - I have £600.00 State Pension every month
£ 28.00 Pension from Prudential monthly
£ 80.00 Pension from Avivia monthly
I have savings of £25,000 in a Building Society
I have all my P60 come through do I need to send these to the Tax Office - I am worried about not paying TaX
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.

Leave this with me while I take a look at it.
Customer: replied 2 years ago.
Do you need any more info from me
Expert:  TonyTax replied 2 years ago.

I don't need any more information for you.

I have my answer ready but there is a technical issue preventing me from posting it right now and I am waiting for that to be fixed. I can only post info requests at the moment. Rest assured that I will post my answer as soon as I can. I can say that your father has nothing to worry about.

Expert:  TonyTax replied 2 years ago.

Hi again. Here is my answer. My apologies for the delay. I've addressed the answer to your father directly.

You were entitled to a personal allowance of £10,660 for 2014/15. If your income for that tax year was £8,496 ((£600 x 12) + (£28 x 12) + (£80 x 12)) then you will have no tax to pay so long as the interest on your £25,000 saviings diid not exceed £2,164 gross. If your state pensionis paid every 28 days, then you would have received 13 payments of £600 whch would make your income £9,096 for the year. If the interest was paid net of tax, then you may be due a tax repayment.

If you call the tax office on 0300(###) ###-####and tell them how much building society interest you earned in 2014/15, they will issue a P800 tax calculation to you which will show whether you owe any tax or are due a tax repayment. The tax office will already have your pension figures. There is no need to send any documents to the tax office.

The personal allowance is also £10,600 for the current tax year 2015/16.

I hope this helps but let me know if you have any further questions.

TonyTax and other Tax Specialists are ready to help you
Expert:  TonyTax replied 2 years ago.
A quick correction. The personal allowance is £10,660 for 2015/16.