Julian Bye retweeted
NEWS! Govt's confirmed it WILL keep this promise. I've got a statement from Minister for Pensions @TorstenBell:
“In line with the commitment made at Budget 2025, pensioners who only just the exceed the personal allowance will not have the administrative burden of paying small amounts of tax in this Parliament.
“The chancellor will set out further details on how that commitment will be delivered at the Budget.”
News! From 2027, the full new state pension will be higher than the tax-free allowance, so tax is due. The Chancellor had said people wouldn’t need to do assessments, but on my show tonight, Rachel Reeves said, they won’t pay tax at all this parliament. Watch the full show & budget interview on itv.com/watch/the-martin-lew…
PS I asked the Chancellor after that… ‘what about those edge-cases who earn just a tiny bit elsewhere like small private pensions?’ she said they won’t be included in this and thus will pay tax.
Julian Bye retweeted
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