The proportion of those aged 65 or over paying income tax was 62 in the year ending March 2023.
In the ITV Debate on Tuesday June 4, Prime Minister Rishi Sunak said: “For the first time in our country’s history, if Labour are elected pensioners will pay tax.”The state pension is less than that, however people with a private pension which takes them above that threshold will pay income tax.is set at £12,570 per year. If a pensioner has a combined state and personal pension income above that threshold they will pay tax on that extra amount.or over paid income tax.
When Mr Sunak said that pensions have not been taxed before in history, he is likely referring just to the state pension. The full state pension is currently £11,502 per year, so someone who has no other income does not pay income tax. Mr Sunak has proposed a new policy – called the triple lock-plus by some – which would see the threshold at which pensioners have to pay income tax rise so that even if the state pension increases it will never rise above the income tax threshold.Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly.
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Fact check: Pensioners paid £19.5 billion in income tax in year ending 2022The proportion of those aged 65 or over paying income tax was 62 in the year ending March 2023.
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