SIR – That Government is now advertising in national newspapers the fact that some OAPs might be able to reclaim excess tax deducted at source from their savings interest is gratifying indeed.
However, the scope of the 10p tax band for this is very limited, and the procedures to reclaim anything are bureaucratic and complex to understand for the average person, which is why so few bother.
But what a difference for the wealthy who receive not meagre interest from building societies etc, but ‘share dividend’ income. They enjoy the 10p tax rate on that right up to the maximum income level for standard rate tax of around £34,000 per annum!
Isn’t this just another example of how ‘new’ Labour continues to discriminate against the working man or OAP in favour of the rich?
D S Boyes, Rodley Lane, Bramley, Leeds
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