Related topic: Income tax

Former pensions minister Steve Webb says the proposals raise several questions of fairness.

Those whose sole income is the state pension may not have to pay income tax if their state pension exceeds the personal allowance.

The rise takes the annual benefit just £23 under the frozen personal allowance threshold and will drag more retirees into paying income tax next year.

Reeves has “ripped up” proposals to raise the basic and higher income tax rates amid fears it would anger voters.

Changes to capital gains tax, dividend allowances, inheritance thresholds, and pension reliefs are all on the table as the Chancellor aims to plug an estimated £22bn to...

These retirees face a 'triple whammy' due to the knock-on impact of tax rates on savings and capital gains.

The personal tax thresholds will be uprated with inflation from 2029.