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Rachel Reeves confirms millions of pensioners to avoid HMRC income tax under new plan
The exemption protects about one million pensioners relying solely on the state pension from paying income tax as pension levels rise under the triple lock policy.
- The full new state pension will increase by about £575 a year from April, potentially exceeding the personal allowance by April 2027 and subjecting pensioners to income tax.
- Rachel Reeves confirmed that the government intends to ensure pensioners whose sole income is from the new state pension will not pay income tax during this Parliament.
- The challenge is designing a solution that is simple for HMRC to administer while remaining fair to pensioners close to the tax threshold.
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Rachel Reeves says 'we are committed' over state pension changes
Chancellor Rachel Reeves has provided an update regarding a significant tax change impacting state pensioners. Her remarks follow news that more pensioners will move into paying tax from this April when the triple lock comes into effect.
·London, United Kingdom
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Rachel Reeves confirms pensioners to benefit from £300 discounts schemes
She spoke to MPs about the impact of the Iran war on the cost of living Chancellor Rachel Reeves has spoken to MPs about cost of living support that will save households £300 a year. She provided an update to the Treasury Committee on the Government’s policies to help people with their rising bills. The MP committee questioned the Chancellor about the ongoing conflict in Iran and what measures are underway “to support consumers and businesses wi…
Coverage Details
Total News Sources18
Leaning Left2Leaning Right0Center14Last UpdatedBias Distribution87% Center
Bias Distribution
- 87% of the sources are Center
87% Center
13%
C 87%
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