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No Income Tax for Pensioners Living Solely on State Pension, UK Government Says
The UK government assures pensioners relying solely on State Pension will not face income tax or Self Assessment despite frozen personal allowance at £12,570 until 2030.
- The UK government has confirmed that pensioners whose only income is the State Pension will not pay income tax, despite the personal allowance remaining frozen until 2030.
- From 2027, the full new State Pension will exceed the tax-free personal allowance of £12,570, raising fears that retirees could be taxed on their State Pension alone.
- However, the government has assured that those receiving only the Basic State Pension or the New State Pension will not be required to pay tax or complete a Self Assessment tax return, even if their pension income exceeds the personal allowance.
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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 Pension will not pay income tax, despite the personal allowance remaining frozen.
·Southampton, United Kingdom
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The Herald Scotland+35 Reposted by 35 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
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Total News Sources43
Leaning Left1Leaning Right0Center38Last UpdatedBias Distribution97% Center
Bias Distribution
- 97% of the sources are Center
97% Center
C 97%
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