HMRC have published a quite extensive guide for taxpayers who are approaching retirement.
The new 19 page guide is designed to provide an overview of the main tax and NIC issues for taxpayers at or near retirement. The guide explains what extra allowances are available for the over 65’s and the over 75’s as well as explaining the NIC implications of retiring early or working after the official state pension age.
Taxpayers who are more than four months away from the state pension age and will retire before 6 April 2010 can request a state pension forecast from HMRC. Taxpayers less than four months from the state pension age should receive a booklet from HMRC explaining what needs to be done to claim a state pension upon reaching the relevant age.
Also included in the guide is information on Retiring abroad, Inheritance tax, Income tax allowances and Occupational pensions.