[steɪt ˈpɛnʃᵊn]
The State Pension is a weekly payment provided by the government once you reach the state pension age. The amount received will depend on various factors.
The State Pension is a regular payment provided by the government in the United Kingdom to qualifying individuals that have reached the State Pension age. This payment is provided to help with everyday living costs.
To qualify for the State Pension, an individual will usually need at least ten qualifying years on their National Insurance record. A year qualifies if the individual has paid National Insurance contributions when working, received National Insurance credits, or paid voluntary National Insurance contributions. To get the full amount of State Pension, 35 qualifying years are required.
Individuals who reached State Pension age before 6th April 2016 get the basic State Pension. The full basic State Pension allowance is £156.20 per week for the 23/24 Tax Year. Otherwise, individuals get the new State Pension and the full new State Pension allowance is £203.85 per week for the 23/24 Tax Year.
The additional State Pension is available for men born before 6th April 1951 and women born before 6th April 1953. It is based on career earnings.
January 31st is the deadline for submitting 2022/23 tax returns. It's a good idea to complete your tax return ahead of this deadline to avoid mistakes and potential penalties. This article shows why its a good idea to submit your tax return early and how Earnr can help you if you are stuck.
Read more.webp)
We recently introduced our newest addition to the Earnr team; our AI chat bot, Earnr AI. In this article we put Earnr AI to the test and asked it why you should use Earnr as your tax companion, bookkeeping tool and tax return assistant. Read it's excellent response!
Read more
The festive period is often thought of as the busiest time of the year with the run up to Christmas and New Year. Whilst this period can feel hectic at times, it can also be seen as the perfect time to complete your tax return. In this article we explain why this Christmas time is the best time to submit your 22/23 tax return.
Read more