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Rachel Reeves confirms millions of pensioners to avoid HMRC income tax under new plan
The government aims to exempt around one million pensioners relying solely on the new state pension from income tax starting 2027 to prevent small tax bills due to frozen thresholds.
- 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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Coverage Details
Total News Sources26
Leaning Left3Leaning Right1Center18Last UpdatedBias Distribution82% Center
Bias Distribution
- 82% of the sources are Center
82% Center
14%
C 82%
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