Calls to scrap tax on State Pension continue to soar ahead of annual payment uprating next month
dailyrecord.co.ukMore than 39,500 people have signed an online petition calling for income tax on the State Pension to be scrapped in order to help “reduce the tax burden on pensioners” despite the UK Government rejecting the proposal earlier this year.
The petition was created after it was announced in November the Personal Allowance income threshold will remain frozen at £12,570 during the 2024/25 financial year.
The Personal Allowance has been frozen at £12,570 since the 2021/22 financial year and sets an initial level of earnings on which people don’t pay income tax.
However, the 8.5 per cent uprating on the New and Basic State Pension next month is expected to drag an estimated 900,000 people in retirement into the tax net - if the Personal Allowance remains unchanged this year.
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