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In the latest year, £144m was overpaid in state pensions by the DWP after a person's death due to delayed reporting. The department recovered £67.3m, leaving £76.7m in unrecovered overpayments.
A welfare loophole means the DWP is unlikely to ever recover the money
Inheritance tax or estate tax is the tax levied upon the wealth of a person at the time of their death before it is passed on to their heirs. [1] [2] [3]
In 2009–2010 the DWP stated £1.95 billion job-seekers allowance, £2 billion income support and employment and support allowance, £2.4 billion in council tax, £2.8 billion in pension credit and £3.1 billion for housing benefit; in total £12.25 billion had not been claimed. [43]
The problem relates to an ageing computer system and has led to some people being underpaid or overpaid.
In comparison to the estimated 1.2 [12] to 1.3bn lost to benefit fraud per year according to official statistics, the tax "gap" for 2013/2014 stood at the far higher figure of £34bn, or 6.4%. The tax gap is the shortfall between what is estimated by HM Revenue and Customs to be due in tax and what is
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Pension tax simplification, sometimes referred to as pension simplification was a British overhaul in 2006 of taxation rules for United Kingdom pension schemes.The aim was to reduce the complicated patchwork of legislation built-up by successive administrations which were seen as acting as a barrier to the public when considering retirement planning.