{"id":19894,"date":"2023-01-20T13:12:57","date_gmt":"2023-01-20T13:12:57","guid":{"rendered":"https:\/\/www.moorethompson.co.uk\/blogs\/?p=19894"},"modified":"2023-01-20T13:12:58","modified_gmt":"2023-01-20T13:12:58","slug":"large-number-of-over-65s-file-self-assessment-tax-return","status":"publish","type":"post","link":"https:\/\/www.moorethompson.co.uk\/blogs\/large-number-of-over-65s-file-self-assessment-tax-return\/","title":{"rendered":"Large number of over 65s file Self-Assessment tax return"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-2-2-1024x576.png\" alt=\"\" class=\"wp-image-19896\" srcset=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-2-2-1024x576.png 1024w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-2-2-300x169.png 300w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-2-2-768x432.png 768w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-2-2.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The 2021 to 2022 tax year saw a considerable amount of people aged 65 and over filing a tax return.<\/p>\n\n\n\n<p>A report released by HM Revenue &amp; Customs (HMRC) revealed that 16 per cent of individuals who submitted a tax return fell into this age bracket.<\/p>\n\n\n\n<p>The new data is part of an analysis by HMRC into the demographic data of the Self Assessment population.<\/p>\n\n\n\n<p>The figures appear to confirm that more and more workers over retirement age are returning to the workplace.<\/p>\n\n\n\n<p>The HMRC Self-Assessment data shows:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The largest group of those filing were aged 45 to 54, accounting for 24 per cent of all tax returns submitted<\/li><li>More than 294,000 16 to 24-year-olds filed a return, making up 2.7 per cent of total filers<\/li><li>Of those who submitted a return last year, 62 per cent were men, compared to women who accounted for 38 per cent.<\/li><\/ul>\n\n\n\n<p>More than 12 million people are expected to file a Self Assessment tax return for the 2021 to 2022 tax year.<\/p>\n\n\n\n<p>Anyone yet to submit theirs has until 31 January to complete it, pay any tax owed or set up a payment plan, or risk having to pay a penalty.<\/p>\n\n\n\n<p>In 2022, figures from the Office for National Statistics (ONS) from April to June, showed the number of people aged 65 years and over in employment increased by a record 173,000 in the quarter to 1.468 million.<\/p>\n\n\n\n<p>This increase was driven by rises in part-time work, and those who joined employment worked relatively few hours.<\/p>\n\n\n\n<p><strong>Valued experience<\/strong><\/p>\n\n\n\n<p>The industries where this type of employment was more common included:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Hospitality<\/li><li>The arts<\/li><li>Entertainment<\/li><li>Recreation.<\/li><\/ul>\n\n\n\n<p>Both sets of data would appear to confirm that employers value experienced workers who bring a wealth of knowledge and expertise to the workplace. This can help increase productivity and morale.<\/p>\n\n\n\n<p>Additionally, having a diverse age range of employees can help bring a variety of skills to the workplace, which can help with problem-solving as well as assisting with training.<\/p>\n\n\n\n<p>Employers can create a more age-friendly workplace by offering flexible hours, providing training and development opportunities, and encouraging wellness programmes that promote healthy lifestyles.<\/p>\n\n\n\n<p>These initiatives can help older employees stay engaged, motivated and productive while also allowing them to maintain a healthy and balanced lifestyle.<\/p>\n\n\n\n<p><strong>Looking for Self Assessment or related tax advice? Get in touch today.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2021 to 2022 tax year saw a considerable amount of people aged 65 and over filing a tax return. <a href=\"https:\/\/www.moorethompson.co.uk\/blogs\/large-number-of-over-65s-file-self-assessment-tax-return\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  Large number of over 65s file Self-Assessment tax return<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26,3],"tags":[],"class_list":["post-19894","post","type-post","status-publish","format-standard","hentry","category-blog","category-tax"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/comments?post=19894"}],"version-history":[{"count":1,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19894\/revisions"}],"predecessor-version":[{"id":19897,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/posts\/19894\/revisions\/19897"}],"wp:attachment":[{"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/media?parent=19894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/categories?post=19894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moorethompson.co.uk\/blogs\/wp-json\/wp\/v2\/tags?post=19894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}