Taxation of pensioners

The Revenue Commissioners have been cross-checking information on pension payments from the Department of Social Protection against their own records. In some cases, where an individual has sources of income other than their Social Welfare pension, there could be an underpayment of tax. The Revenue Commissioners have written to many pensioners advising them that their tax credits and standard rate bands will be adjusted, so as to correct this issue going forward. In the case of high-income pensioners, the Revenue Commissioners may examine previous years to ascertain whether there has been any significant underpayment of tax in the past.

20.01.2012. 09:16