Number of pensioners paying income tax soars to more than 8.5 million

HMRC figures show 660,000 more pension-age income taxpayers over last year, a 10% rise

Jasmine Urquhart
clock • 1 min read
Number of pensioners paying income tax soars to more than 8.5 million

The number of pensioners paying income tax has risen to 8.51 million over the last year, according to figures from HM Revenue and Customs (HMRC).

The figures for the 2023/24 tax year showed almost 10% more (660,000) were paying income tax while over the state pension page, up from 7.85 million last year. In addition, more than two million...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Industry

Access LGPS pool hits £50bn in assets under management

Access LGPS pool hits £50bn in assets under management

Pool also revealed it is working on private equity and private debt mandates

Holly Roach
clock 12 November 2024 • 1 min read
Buzz: Are you happy with the FCA's final dashboard rules?

Buzz: Are you happy with the FCA's final dashboard rules?

FCA dashboard rules, national lifetime savings plan and US election

Professional Pensions
clock 12 November 2024 • 1 min read
Aegon to launch commercial pensions dashboard

Aegon to launch commercial pensions dashboard

Comes after the FCA published its regulatory framework for dashboard service firms

Holly Roach
clock 11 November 2024 • 1 min read
Trustpilot