Pensioners: Tax Rates and Bands
The question
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing a higher tax threshold for pensioners.
Answered by James Murray
The Government is committed to making sure older people can live with the dignity and respect they deserve in retirement. The income tax Personal Allowance will continue to exceed the basic and full new State Pension in 2024-25. This means that pensioners whose sole income is the full new State Pension or basic State Pension without any increments will continue to not pay any income tax.
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