State Pension increase of 10.1% next April could see half a million more people in retirement paying tax

Over the next couple days, Tuesday’s midterm election results will be debated for hours on end. There have been plenty of wins on both sides, but one thing is clear: the night’s biggest loser was Donald Trump.

HM Revenue and Customs (HMRC) has revealed that since April 6, 2022, almost 21,600 Self Assessment customers, who were unable to pay their tax bill in full, have set up a payment plan to spread the cost into manageable monthly instalments - an increase of around 3,900 customers on the previous year.

A new report from the Public Accounts Committee (PAC) suggests that fraud and error levels in benefits spending at the Department for Work and Pensions (DWP) is ‘unacceptably high’ and said that more must be done to get a grip on the billions of pounds being lost every year. The watchdog discovered that DWP overpaid an “eye-watering” £8.6 billion across benefits in 2021-22, with £6.5 billion of that figure due to fraud.

The latest figures shared by the Department for Work and Pensions (DWP) show that in February there were 22 million people across the UK claiming at least one benefit. That number includes nearly 12.5 million older people now in receipt of State Pension payments, a contributory benefit only available to those of retirement age with at least 10 years’ worth of National Insurance Contributions.

The latest figures from the Department for Work and Pensions (DWP) show that in February 2022, nearly 12.5 millions people across the UK were receiving State Pension payments, including 1.1 million living abroad and 992,052 in Scotland.

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The most recent report by the public spending watchdog on the Department for Work and Pensions (DWP) accounts has revealed that around 237,000 people over State Pension age have been underpaid a total of £1.46 billion. The underpayments average around £8,900 per person.

State Pension currently provides essential financial support for nearly 12.5 million older people across the UK, including some 981,399 living in Scotland. This regular payment is available for those who have reached the UK Government’s eligible retirement age, which is now 66 for both men and women, and have paid at least 10 years of National Insurance contributions.

The Department for Work and Pensions (DWP) has been reluctant to confirm whether State Pension and benefits will be uprated in line with the current inflation rate of 10.1% next April. New DWP boss, Mel Stride, told the House of Commons earlier this week that a decision will not be announced until the Autumn Statement on November 17 at the earliest.

The Department for Work and Pensions (DWP) has declined a request from Labour MP, John McDonnell, to meet with a delegation of Women Against State Pension Inequality (WASPI) campaigners to “talk about their plight and find a way forward” amid an ongoing investigation being conducted by the Parliamentary and Health Service Ombudsman (PHSO) into the way the DWP communicated changes to retirement age.

The latest figures from Social Security Scotland show that at the end of February, 2022 there were 124,081 people living in Scotland receiving additional financial support through Attendance Allowance. Across the UK, there are now more than 1.5 million people over State Pension age getting either £61.85 or £92.40 each week through the benefit.

The UK Government has said it is “working urgently” with local authorities and Devolved Administrations to finalise the details of providing the £400 Energy Bills Support Scheme to people who do not have a direct electricity connection with their supplier. This includes private tenants with an all-inclusive rental agreement and people living in a park home or on a houseboat.

The Department for Work and Pensions (DWP) has released a short video answering key questions a bout Winter Fuel Payments following an increase in people searching for information about the one-off annual heating bill support which is paid directly into bank accounts over November and December.

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The latest figures from the Department for Work and Pensions (DWP) show that in February 2022, nearly 12.5 millions people across the UK were receiving State Pension payments, including 1.1 million living abroad and 992,052 in Scotland.

The most recent report by the public spending watchdog on the Department for Work and Pensions (DWP) accounts has revealed that around 237,000 people over State Pension age have been underpaid a total of £1.46 billion. The National Audit Office (NAO) report said this was an increase of £429 million and some 105,000 older people on the DWP’s best estimate at the end of 2020-21.

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As energy prices across the UK continue to overwhelm household bills, there are a range of support grants available for customers who are struggling to pay.

The Minister for Work and Welfare has said that the UK Government “understands the pressures people are facing with the cost of living” and has taken further “decisive action” to support households with their energy bills. Victoria Prentis MP, also said that the £37 billion in financial support includes up to £650 in cost of living payments, which have been designed to target support at around eight million low-income households on means-tested benefits and older people receiving Pension Credit.