TAXATION OF SAVINGS INCOME OF OLDER PEOPLE

Early day motion 788, tabled 6 July 1999 by Paul Burstow (Liberal Democrat). Signed by 26 members.

That this House notes that the Chartered Institute of Taxation estimates that a million older people have overpaid as much as £500 million in tax on their income from savings and that Her Majesty's Treasury has no information concerning the extent to which tax is overpaid by older people on their savings income; is concerned that there is no co-ordinated Government effort to inform older people of their right to claim overpaid tax; believes that the current plans for a Taxback campaign next year are inadequate and fail to co-ordinate efforts between Her Majesty's Treasury and the Department of Social Security; and calls on Her Majesty's Government to adopt a proactive approach to inform older people of their tax rights.

Signatures by party: Liberal Democrat 18, UUP 3, Labour 2, Conservative 1, Plaid Cymru 1, Social Democratic and Labour Party 1.