You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
+44 (0)20 8944 1180 - info@zgrp.co.uk
More than 10,000 payments worth £12.5 million have been made through a new digital service to boost people's state pension, HMRC has revealed.
People have until 5 April 2025 to maximise their state pension by making voluntary National Insurance contributions (NICs) to fill any gaps in their NICs record between 6 April 2006 and 5 April 2018.
The service enables people to check if they have gaps in their NICs record, calculate if making a payment would increase their state pension, and then make a payment if they wish to do so.
HMRC data shows:
After the 5 April 2025 deadline, people will only be able to make voluntary contributions for the previous six tax years, in line with normal time limits.
Emma Reynolds, Minister for Pensions, said:
'We want pensioners of today and tomorrow to enjoy the dignity and support they deserve in retirement. That's why I urge everyone to check if they could benefit by filling gaps before the deadline passes. Using our online tool means only a few clicks could make a huge difference to your future.'
Check your pension here.
Internet link: GOV.UK
06 Jan 2025
HMRC is reminding people who pay tax by self assessment of the opportunity to spread the cost of their bill with the Time to Pay facility.
HMRC could save an estimated 1.7 million hours of call handlers' time every year if it implemented an automated status tracking system, according to two of the leading bodies for tax advisers and chartered accountants.
The UK government has launched a new Industrial Strategy Advisory Council which brings together business leaders from across the UK to offer advice.
Receive our monthly email packed full of essential business news and handy tax tips to help save you money.
Register now