HMRC Admits £5 Tax Overcharge on 8.7 Million State Pensioners Monday, June 15, 2026 hmrc pensions tax overcharge statepension pensioners calculationerror government taxation reimbursement HM Revenue and Customs (HMRC) has confirmed it overcharged nearly 8.7 million state pensioners due to a calculation error, resulting in an estimated £43.5 million in excess tax collected last year. The error inflated the … Read More
HMRC Personal Tax Allowance Bands May Change for State Pensioners, Says Labour Candidate Monday, June 15, 2026 hmrc personalallowance incometax pensioners labourparty andyburnham taxbands statepension triplelock dwp Andy Burnham, the Labour Party candidate for the Makerfield byelection, has voiced concerns about the negative impact of the government’s freeze on income tax bands for state pensioners. Highlighting feedback from … Read More
HMRC Targets 144,000 Savers with £5,000+ Tax Demands on Savings Interest Monday, June 15, 2026 hmrc tax savings interest cashisa treasury investment finance taxation savers HM Revenue & Customs (HMRC) is intensifying its efforts to collect tax from savers, sending £5,000-plus tax demand letters to 144,000 individuals. According to data obtained through a Freedom of Information request, the … Read More
HMRC Introduces Earnings Limit for Winter Fuel Payments Affecting State Pensioners Sunday, June 14, 2026 hmrc winterfuelpayment statepension taxcode paye selfassessment meanstesting pensioners repayment incomelimit HM Revenue and Customs (HMRC) has implemented new earnings-based rules affecting Winter Fuel Payments for millions of state pensioners. Under this updated regulation, Winter Fuel Allowances will be means-tested against … Read More
£5,000 HMRC Charge to Impact 144,000 Savers by 2026 Saturday, June 13, 2026 hmrc tax savings interest paragon savers finance isa accounts balance A recent Freedom of Information request by Paragon Bank reveals a sharp rise in the number of savers expected to pay £5,000 or more in income tax on their savings interest. HMRC forecasts that 144,000 people will owe at least … Read More
HMRC Revises Pension Tax Rules for Deaths After Age 75 Starting 2027 Friday, June 12, 2026 hmrc pensions inheritancetax taxation estateplanning retirement wealthtransfer taxreform pensionbenefits taxcompliance HM Revenue & Customs (HMRC) has announced significant changes to the taxation of pensions when a person dies after reaching age 75. Effective from 6 April 2027, the majority of unused pension funds and pension death … Read More