Lord Stoddart of Swindon – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Stoddart of Swindon on 2014-06-10.

To ask Her Majesty’s Government whether they have made any estimate of the likely financial consequences for taxpayers over the official retirement age of any merger of income tax and national insurance contributions into a single tax; and, if so, what was that estimate.

Lord Deighton

As set out by the Chancellor at Autumn Statement 2012, the Government will wait for further progress on planned operational changes to the tax system before formally consulting on the operational integration of income tax and National Insurance contributions (NICs).

The scope for the consultation was originally set out by the Chancellor at Budget 2011, and made it clear that the Government will not extend NICs to individuals above State Pension Age nor to other forms of income such as pensions, savings and dividends.