Pensioners charged £7,400 a year in tax each – the shocking amount the government is clawing back from retired Brits : Mirror

The amount of tax the government takes from pensioners has reached 30% of their incomes, and it’s not stopped rising yet.

Pensioners are filling the taxman’s coffers with almost a third of their income – handing over an average of £7,400 each year.

The total bill for direct and indirect taxes for the UK’s retired households in the 2015-16 tax year was £52.7billion, according to analysis from Prudential of figures from the Office for National Statistics.

Direct taxes include income tax and council tax, costing an average £3,050, and indirect taxes include VAT, insurance premium tax and vehicle excise duty which cost an average £4,360.

Tax bills increased by around £400 per household in the year to April 2016, a £1.7bn boost to the Inland Revenue. Three-quarters of that increase was due to direct taxation at £300 more than its 2014-15 level.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s