Could someone explain a few things?

[Anonymouse]

The DWP asked for my bank statements. No idea why they're asking me, after all that fuss about them having access to bank accounts - surely they could just bypass me entirely?

Nonetheless, I've been a good little boy and sent them. Job done, I thought.

But they want the same for my ISA. By pure coincidence I've recently put money in it for the first time in years - for I don't know how long, the balance was £0.01; I was keeping it open just in case. But I can't send monthly statements because the app doesn't do them, only yearly.

I went to Barclays and requested a statement. It'll take 48 hours to show on the app.

Last I checked, this was 2025, not 1985. Everything's computerised now, that was the whole bloody point. Why does it take longer than 48 seconds?!

And again, why ask ME?! They HAVE access to my account, they don't need me.

This is not the way I would do things if I were in charge. I would ensure such things were dealt with efficiently, by making proper use of available facilities. They harp on about the DWP's costs - and now I see why: because they're prats who don't know how to use their computer systems properly!

[Jaymoss]

They only I believe have to power to access bank accounts if they suspect fraud. They are simply checking your savings to see if any deductions are needed

[Taf]

Years ago, I had to take my bank statements to the local office for "perusal" at least twice a year. And I had to take receipts for items such as winter coats for the twins, new shoes, school uniform, car servicing, etc., etc.

Even then, they were searching for cash and cheque movements in-or-out of my account, exposing any off-the-books work I could be doing.

I was told that they often targeted Carers, despite all the promises to make our lives easier.

I was also called into the office to "look for work" despite being a Carer meant spending at least 35 hours a week looking after our son.

Now they seem to rely more on the banks letting them know if "large" or "unusual" sums of money move through your account. They certainly tell HMRC of every last penny you earn in interest so that it can be taxed without the need for a tax return. And that'll be 22% now!

[Carth]

I find it strange that in these days of the 'need for digital ID', HMRC don't ask for a photo, passport number and signed documentation from a doctor or solicitor before they take tax from you . . odd how it only works one way

They don’t take tax from you - the employer does, who has the responsibility for making sure you’re "legal" - they then pay this to HMRC…

[VX1953]

I just get State Pension and a small NHS pension, nothing else. The NHS pension goes every month on paying the Fuel (Gas & Electricity) so I never see it in my hands. Now I have to pay Income Tax on my pensions Grrrrr

If your pensions added up to more than your tax free allowance, you would always have had to pay tax on them, that hasnt changed.

[VX1953]

Originally Posted by Paul

If your pensions added up to more than your tax free allowance, you would always have had to pay tax on them, that hasnt changed.

I didn't have to pay Income Tax until the State Pension Increase in April tipped me into paying TAX, they don't take the Tax off my State Pension, it comes off my NHS Pension.

Boo Hoo

[SnoopZ]

Originally Posted by VX1953

I didn't have to pay Income Tax until the State Pension Increase in April tipped me into paying TAX, they don't take the Tax off my State Pension, it comes off my NHS Pension.

Boo Hoo

So if a pensioner has a pension of more than £12570 we have to pay tax still, does it get taken off automatically and you don't have to fill in any forms?

I'm 5-10 years off from retirement depending on how much growth my 2 work pensions grow in that time, but they seem to be growing very well in the last year or so, so I'm hoping I can retire 5 years early and ride it out until the state pension kicks in.

[Anonymouse]

Originally Posted by Jaymoss

They only I believe have to power to access bank accounts if they suspect fraud. They are simply checking your savings to see if any deductions are needed

Ah. I wasn't aware of that; I thought they had total access. Fair enough.

Given the minimal state of my bank balance - the most I've ever had was around £8,000, which was why Barclays advised me to open an ISA - I very much doubt they suspect me. I've never had as much as 5 figures in my entire life, and I suspect I never will. The threshold figure for UC is £16,000, and I always laugh at the notion that I'll ever have even that much. These days, £16K is not a fortune.

"Try the Lottery!" I've heard. Yeah. When it becomes more likely than a meteorite strike, I might consider it. Maybe. Until then, I do not have the money to waste.

Nor will you ever find me in a casino; I know enough about statistics to know better.

There is no such thing as a lucky streak - only a statistical aberration. No roll of the dice or spin of the wheel has any correlation whatsoever with any other one (probably casino bosses now realise they don't need to cheat - all they need is a steady stream of suckers...which they get). It happens. You will get the odd run where things go in your favour. More usually they'll go against you.

I never forget the wisdom of Earl Dumarest, in #20, Web Of Sand:

"Haven’t you learned yet the one inescapable truth about gambling? That those who need to win never do?”

Write what you know. I have little doubt E.C. Tubb got burned at some point, doubtless in that time of life when youth and stupidity are synonymous. Been there, done that, though even when I was younger (even when I had that £8,000), I had more sense - mainly through Dumarest.

Though I do wonder about their objection to systems - these are based on precisely the same concepts as the games, so how is it cheating? Most people don't have the patience anyway - you have to stick with it, even when things are going sour. That's where they go wrong - that, and seldom having the sense to quit while they're ahead.

I'm not even pretending to be wise; I've done stupid things. We all have. But I've never been that stupid.

None of this answers the question of speed - it should take a few seconds to type, then, at most, a few seconds to retrieve the data, say if there's a hitch in signal traffic (like when downloads usually happen in 3 seconds or so, but occasionally take 10 or so). 48 hours is ridiculous in this day and age. I say again, it shouldn't take longer than 48 seconds, because this is what computers are FOR.

And if the world governments ever get their act together and mine Psyche, none of this will matter - we'll all be rich! If everyone is rich, then no-one is!

Originally Posted by SnoopZ

So if a pensioner has a pension of more than £12570 we have to pay tax still, does it get taken off automatically and you don't have to fill in any forms?

Normally automatic, whoever is paying your pension will be issued a tax code for you, and tax you according to that code - at least thats how mine work.

[SnoopZ]

Originally Posted by Paul

Normally automatic, whoever is paying your pension will be issued a tax code for you, and tax you according to that code - at least thats how mine work.

Let's say I have 2 work place pensions, when retirement comes is it best to put them both at the same place and then take the 25% lump sum to make it all easier?

[Jaymoss]

Originally Posted by Anonymouse

[FONT="Arial"]Ah. I wasn't aware of that; I thought they had total access. Fair enough.

Given the minimal state of my bank balance - the most I've ever had was around £8,000, which was why Barclays advised me to open an ISA - I very much doubt they suspect me. I've never had as much as 5 figures in my entire life, and I suspect I never will. The threshold figure for UC is £16,000, and I always laugh at the notion that I'll ever have even that much. These days, £16K is not a fortune.

£6000 before deductions then it is £4 something deducted for every £250 over and then you get nothing if you have £16K

This thread has appeared to go vastly off topic only me and you are actually discussing what you asked