A record 10 million people aged 65 and over are paying income tax in the UK, according to reporting across multiple outlets. Both sources say the figure reflects a continuing rise in the number of pensioners drawn into paying tax each year. They point to a tax policy backdrop in which the tax-free personal allowance remains frozen, which reduces the income level at which individuals begin to owe tax as pensions and other earnings increase. The coverage also links the increase to rises in state pension payments under the government’s “triple lock” mechanism, which can lift pension income over time. As a result, more pensioners’ incomes move into taxable bands, leading to a growing share of over-65s paying income tax. The reports present the 10 million figure as the latest benchmark in a longer-term trend rather than an isolated change, tying the increase to the combination of a static tax threshold and higher pension incomes.
Record 10 million over-65s pay income tax as allowances stay frozen
A record 10 million people aged 65 and over are paying income tax in the UK, according to reporting across multiple outlets. Both sources say the figure reflects a continuing rise in the number of pen...
- About 10 million people aged 65 and over are paying income tax.
- The number of pensioners paying tax is rising year on year.
- The tax-free personal allowance threshold is frozen.
- State pension payments are increasing under the triple lock.
- Higher pension incomes combined with a frozen allowance bring more over-65s into taxable income levels.
The number of pensioners paying tax continues to rise every year
4 hours agoSoaring number of pensioners dragged into payments due to tax-free personal allowance being frozen and state pension triple lock increases
1 day ago
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