Tax sickener
I am retired and have just received notification from the HM Revenue and Customs that two mining pensions, with a combined total of £78 per year, will now each be taxed at 20 per cent.
Also, the additional voluntary contributions pension of 840 per year (which I paid into over the years) is also to be taxed at 20 per cent. The instruction to HM Revenue and Customs to apply these taxes came from HM Treasury, according to their letter.
It is sickening when one hears of the bonus culture still pervading the very institutions these scrapings from my meagre earnings are helping to support.
I am sure the administration and collecting of these petty amounts must exceed their value.
W MacGREGOR
Buckstone Bank