US EditionPublished • loading... • Updated
HMRC Personal Allowance update: Millions of pensioners spared State Pension tax
The UK Government reassures pensioners that no tax or Self Assessment will be required if the State Pension is their sole income, despite frozen personal allowance until 2030.
- Ahead of April 6, DWP and HMRC clarified State Pension tax treatment after Bell addressed MPs' concerns raised by Dr Luke Evans.
- Frozen personal allowance at £12,570 will remain until April 2030, raising concerns that rising pensions could push more pensioners into tax, with advisers urging those with extra income to check their position.
- HMRC's GOV.UK tool explains the Full New State Pension is £241.30 per week and counts it with private pensions, earnings, interest, and rental income for tax purposes.
- The DWP confirmed that pensioners receiving only the full New State Pension or the Basic State Pension will not be required to pay tax or complete a Self Assessment, reassuring many.
- For 2026-27 the full New State Pension remains just below the £12,570 personal allowance, and the government says it will ensure no pensioner is forced into Self Assessment solely because of this.
Insights by Ground AI
21 Articles
21 Articles
The Herald Scotland+20 Reposted by 20 other sources
HMRC Personal Allowance update: Millions of pensioners spared State Pension tax
UK pensioners have welcomed clarity on HMRC personal allowance rules, after the government confirmed that retirees whose only income is the State…
·Scotland, United Kingdom
Read Full ArticleCoverage Details
Total News Sources21
Leaning Left1Leaning Right0Center17Last UpdatedBias Distribution94% Center
Bias Distribution
- 94% of the sources are Center
94% Center
C 94%
Factuality
To view factuality data please Upgrade to Premium
