To be annoyed at the new tax brackets?

State pension from April is £11,973. So still below the Personal Allowance. No change for starting rate for interest on savings fir 25/26 as far as I can see. If that is changing do you have a link, please?

It was a news report. Why does it matter to you if you think it fake news?

If you continue to be pedantic in your life you will not be happy. Not everyone would have this much patience with you.

Yes. You copied and pasted scaremongering nonsense. It's nothing to be proud of!

It's not "on the news". But even if what you have linked was a "news" site, it's still irrelevant speculation. And entirely different to where the govt has clearly said they are taking the money from. It's so clear that the minister who runs the department that is losing the money has resigned. The International Development dept, not Work and Pensions!

@Xenia State pension goes over the personal allowance on 6th April
which combined with the reduced interest allowance will force huge numbers of pensioners into self assessment
because there is no mechanism to deduct tax from the state pension
and the one for bank interest was removed years ago

No. There was no need for you to be rude. You could have just clarified.

I really hope so. I imagine it is quote a worry for people that only have state pension but arent entitled to any other help.

Absolutely. That's why I think something will change before April 26. If the thought the outcry about Winter Fuel Allowance was bad - this will be far worse and an administrative nightmare too.

Presumably it's easier to sneak stuff past the dim ?

If you only have state pension you do not have enough to pay tax as it is under the tax free band. The only pension at 67 I will have is state pension so if I chose to stop work then I would not be a tax payer as not earning enough.

If you keep working as my doctor father did full time to 77 (he died at 79) then in his case he paid vast amounts of 40%+ tax on his NHS and other pensions and lots of tax on his earned income too..

If you have a private sector pension on top of state (I don't) then HMRC will send a notice of coding as with employees and I think they deduct 20% tax at source and if you are 40% or 45% tax payer then they take the rest of the tax via your tax return.

How can it be a "stealth tax raid" when it is crystal clear that any income above the personal allowance is taxable?

What a non- story. Loads of pensioners already pay tax.

it's not "on the news". It's on "GBNews" - which specifically calls itself an entertainment channel. Because it it called itself a news channel they would have to follow regulations - you know like telling the truth.

Have you a source that isn't an entertainment channel ?

Yes it is very likely that it will breach the PA threshold from April 2026. Considering that the threshold is meant to be held until 2028 it would be problematic for pensioners where the only income is from state pension it will become an admin nightmare.

Yes, we do. But my point is that historically, the state pension itself, which for everyone was handed over in cash at Post Offices, was the bit of income that, although liable for tax, was / still is paid without deductions because the tax due is taken from other sources of income. This is entirely different to what happens with someone who has 2 jobs, where both pay packets have tax deducted if the pay exceeds the tax threshold.

So for me, paid directly into the bank, my state pension amount is exactly what is paid, with no deductions. All the tax I pay is deducted only from my (miniscule) personal pension - it is a lot more tax than the pension itself would attract on its own. This is why many people think that the state pension is not taxed.

Incidentally, my figures were incorrect in my previous post - senior moment - from April it is £230.25/£11973, many apologies. My main point about the tax threshold still stands though.

Indeed it does - senior moment - £230.25/£11973, many apologies. My main point about the tax threshold still stands though.

No it's not

Its a copy and paste.

It is on the news. Not my fault you don't get up to date with news and politics,

Clearly scaremongering nonsense. The extra money for defence was funding by a reduction in overseas aid.

I didn't "try to insult you" at all (there is no try, only do). I just set out some facts. Real ones, with which you seem to have very little to do!

Pensioners could be slapped with a "controversial" tax raid as part of Chancellor Rachel Reeves's upcoming Spring Budget, analysts have warned.
Reeves may be forced to implement additional tax rises to pay for the hike in defence spending, which was announced by Prime Minister Keir Starmer earlier this week.

You choose to make an issue out of that? Have you nothing better to add to a thread than try to insult people?

Pensioners with other sources of income like a private pension receives an annual statement which tells them how much tax they have paid, just as though they were still working.

It is already at that £221.20 it rises to £230.25 in april