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Monday, 1 March 2010

Older savers hit by tax overpayment

I have emailed the Permanent Secretary for Tax, Dave Hartnett, asking what steps older people should now take if they fear they might have overpaid tax on their savings income. This follows a Parliamentary report warning that more than two million older savers have been hit in this way, presumably including many people in Hendon. After a lifetime of paying their taxes, older people should not now have to pay more than they really owe. These overpayments are very worrying and unfair. I have asked HMRC to tell me what people should do if they fear they have overpaid, so that I can pass this information on to people in Hendon.
Here is my email to Mr Hartnett:

Dear Mr Hartnett

I am emailing regarding the Public Accounts Committee’s (PAC) report on HMRC’s system for dealing with older people’s tax affairs, published on Wednesday 24 February 2010.

The report found that more than two million older people have paid more tax on their savings income than they need to. If the PAC’s report is correct, then this is extremely worrying, not least because many of these older savers doubtless live in my constituency of Hendon.

I would be most grateful if HMRC could please email me outlining what steps older people should now take if they fear that they might have paid too much tax on their savings, so that I can pass this information on to people living in Hendon.


I have no doubt, incidentally, that HMRC is an organisation which frequently achieves excellence; my emailing you about this particular matter is not intended to imply criticism of HMRC’s overall record.


Regards


Matthew Harris
Liberal Democrat Parliamentary candidate for Hendon

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