Pensioners: Taxation
The question
To ask the Chancellor of the Exchequer, what estimate she has made of the number of pensioners who will be required to pay tax for the first time after 2027.
Answered by Torsten Bell
The majority of pensioners paid tax under the previous Government, with 8.3 million taxpayers over state pension age in 2024/2025.
The Chancellor has said that those whose only income is the basic or new State Pension without any increments will not have to pay income tax over this Parliament
At the Budget, the Government announced that it will achieve this by easing the administrative burden for pensioners so that they do not have to pay small amounts of tax via Simple Assessment from 2027/28. The Government will set out more details in due course.
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