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

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts

Join now

 

Already a Professional Pensions
member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Industry

TNFD announces 96 new adopters

TNFD announces 96 new adopters

Adoption of TNFD initiative has grown by 30% in six months

Jasmine Urquhart
clock 28 June 2024 • 1 min read
Good News Corner: O:pen to host Pride celebration evening

Good News Corner: O:pen to host Pride celebration evening

LGBTQ+ network will host event in central London to close out Pride month celebrations

Martin Richmond
clock 28 June 2024 • 1 min read
UK GDP grows faster than expected at 0.7% in first quarter of 2024

UK GDP grows faster than expected at 0.7% in first quarter of 2024

ONS GDP growth data revised from initial estimate of 0.6%

clock 28 June 2024 • 2 min read
Trustpilot