State pensioners face 'unexpected bill' next year as shock tax raid to hit payments

GB News 31 Aug United Kingdom

State pensioners are being urged to "check your tax code" as soon possible to make sure they are not slapped with "unexpected tax bills in April". Analysts are sounding the alarm that full new state pension payments alone are likely to become liable for tax for the tax man alone due to fiscal drag. This phenomenon occurs when tax thresholds are frozen over a period of time when either inflation or

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