Episode Details

Nine and a half million UK pensioners born before 1960 are now being hit with income tax letters from HMRC — a record number pushed over the edge by frozen tax thresholds. Since 2021, nearly three million more retirees have joined the tax rolls, with over 70% of all pensioners now paying tax — up from a smaller share a decade ago. With the personal allowance stuck at £12,570 while state pensions rise, more retirement income is slipping into taxable territory. The government’s revenue strategy is creating financial strain for retirees, and projections show the number will climb to 9.58 million by 2027 — half a million more than last year. This isn’t a blip — it’s becoming the new normal for millions of retirees.

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