用户名/邮箱
登录密码
验证码
看不清?换一张
您好,欢迎访问! [ 登录 | 注册 ]
您的位置:首页 - 最新资讯
State pensioners to be hit by Labour's 'retirement tax' within two years
2024-07-18 00:00:00.0     每日快报-政治     原网页

       

       Prime Minister Sir Keir Starmer (Image: Getty)

       Labour's "retirement tax" is set to hit millions of state pensioners within two years, shock new analysis shows.

       Sir Keir Starmer's party has said it will keep the tax free personal allowance frozen at £12,570 until 2028.

       by Taboola by Taboola

       Sponsored Link Sponsored Link

       Promoted Links Promoted Links

       Ultimate Pet Nutrition

       Veterinarian Shares: 5 Warning Signs That Your Dog Is Lying To YouUltimate Pet Nutrition Click Here

       Undo

       But the state pension is on track to approach this amount by April 2026 under the triple lock, meaning millions of retirees are at risk of being dragged into paying income tax.

       Shadow work and pensions secretary Mel Stride told the Daily Express: "Keir Starmer wants you to believe that Labour has changed, but hiking taxes is in their DNA.

       "Labour's refusal to increase income tax thresholds despite our repeated warnings means pensioners will be paying the price, forcing elderly people into paying incoming tax for the first time in history.

       Sponsored

       SmartAsset

       SmartAssetIs There a Capital Gains Exemption for Seniors?

       Undo

       by Taboola by Taboola

       Don't miss... State Pension set to rise £600 a year in boost for pensioners [LATEST]

       "Everyone deserves peace of mind and security in retirement, so if Labour has any respect for our pensioners they should put a stop to their retirement tax."

       Former pensions minister Sir Steve Webb called for a joined-up approach to pensions and income tax.

       Sir Steve, partner at pension consultants LCP, said: “There are already well over two million pensioners whose state pension on its own brings them into the income tax net.

       "But this number will jump in a few years’ time if the standard rate of the new state pension exceeds the income tax personal allowance.

       "Policy on pensions and policy on income tax needs to be joined up to avoid a situation where millions of pensioners could receive letters demanding relatively small amounts of tax, but creating a lot of hassle and the risk of scammers taking advantage of the whole process.

       "We urgently need a long-term strategy for pensions and taxation rather than a year-by-year lottery."

       Trending

       Under the triple lock, the state pension usually rises each April by whichever is highest out of inflation, average earnings or 2.5%.

       Average wage growth was 5.7% between March and May, according to Office of National Statistics figures released today.

       With inflation now down to 2%, earnings growth is expected to be the highest of the three figures this year.

       A 5.7% increase would bump the state pension up to £12,158 from April 2025.

       The Bank of England forecasts 2.75% average wage growth next year, which would see the state pension rise to £12,492 by April 2026 - just £78 under the personal allowance.

       The Conservatives warned during the election campaign that Labour would hit pensioners with a "retirement tax" if the party took power.

       Labour failed to match the Tories' "triple lock plus” commitment, which would have protected any retiree relying solely on their state pension from paying income tax.

       DON'T MISS

       Powered by

       Pensioners can claim £23,426 tax-free personal allowance to beat Labour income raids

       80 Comments

       Pensioners told how much money they will need to retire comfortably

       7 Comments

       Personal Allowance - what is it worth and how to backdate claims to make the most of it

       Comments

       King's Speech shows more taxes are on the way under socialist Starmer, Tories warn

       888 Comments

       HMRC increases tax-free personal allowance to £20,070 for self-assess households

       11 Comments

       Fresh calls for early state pension access as Labour may bring forward age increase to 68

       11 Comments

       Little-known inheritance tax rule could slash £70,000 off your bill

       3 Comments

       Simple salary trick could see you retire a year early and add £140 to your pay

       Comments

       State pensioner stuck in higher tax bracket on wrong tax code - HMRC responds

       1 Comments

       Hargreaves Lansdown issues income tax Personal Allowance warning

       Comments

       Tax-free Personal Allowance increased to £14,064 for ‘backdating' households

       83 Comments

       State pension ‘nightmare' as expert confirms Labour can force retirees to ‘give it up'

       649 Comments

       Sorry, but you're not ‘entitled' to the state pension. You'll get what Starmer gives you

       2119 Comments

       Labour eyes up £1.4bn inheritance tax raid that will WIPE OUT family businesses

       699 Comments

       Rachel Reeves facing calls to unleash £2billion death tax raid on pension pots

       394 Comments

       How Labour's £2bn pensions tax swoop could DOUBLE your inheritance tax bill

       31 Comments

       Ultimate Pet Nutrition

       Paw Licking Driving You Crazy? Top Vet Says To Make One Small ChangeUltimate Pet Nutrition Learn More

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       Money expert details ‘what really matters' for Brits' pockets under new government

       6 Comments

       Labour's 'back door' tax plot could see Brits paying more than £63bn on earnings

       1572 Comments

       Millions warned of stealth tax raid that could see them pay more on savings

       47 Comments

       Hidden tax trap sees some workers paying 60% of salary to HMRC

       7 Comments

       Pensioners can claim £23,426 tax-free personal allowance to beat Labour income raids

       80 Comments

       Pensioners told how much money they will need to retire comfortably

       7 Comments

       Personal Allowance - what is it worth and how to backdate claims to make the most of it

       Comments

       King's Speech shows more taxes are on the way under socialist Starmer, Tories warn

       888 Comments

       HMRC increases tax-free personal allowance to £20,070 for self-assess households

       11 Comments

       Fresh calls for early state pension access as Labour may bring forward age increase to 68

       11 Comments

       Little-known inheritance tax rule could slash £70,000 off your bill

       3 Comments

       Simple salary trick could see you retire a year early and add £140 to your pay

       Comments

       State pensioner stuck in higher tax bracket on wrong tax code - HMRC responds

       1 Comments

       Hargreaves Lansdown issues income tax Personal Allowance warning

       Comments

       Tax-free Personal Allowance increased to £14,064 for ‘backdating' households

       83 Comments

       State pension ‘nightmare' as expert confirms Labour can force retirees to ‘give it up'

       649 Comments

       Beverly Hills MD

       Surgeon Reveals: Forget Collagen, Use This Household Item Instead (For Wrinkles)Beverly Hills MD

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       Sorry, but you're not ‘entitled' to the state pension. You'll get what Starmer gives you

       2119 Comments

       Labour eyes up £1.4bn inheritance tax raid that will WIPE OUT family businesses

       699 Comments

       Rachel Reeves facing calls to unleash £2billion death tax raid on pension pots

       394 Comments

       How Labour's £2bn pensions tax swoop could DOUBLE your inheritance tax bill

       31 Comments

       Money expert details ‘what really matters' for Brits' pockets under new government

       6 Comments

       Labour's 'back door' tax plot could see Brits paying more than £63bn on earnings

       1572 Comments

       Millions warned of stealth tax raid that could see them pay more on savings

       47 Comments

       Hidden tax trap sees some workers paying 60% of salary to HMRC

       7 Comments

       Pensioners can claim £23,426 tax-free personal allowance to beat Labour income raids

       80 Comments

       Pensioners told how much money they will need to retire comfortably

       7 Comments

       Personal Allowance - what is it worth and how to backdate claims to make the most of it

       Comments

       King's Speech shows more taxes are on the way under socialist Starmer, Tories warn

       888 Comments

       HMRC increases tax-free personal allowance to £20,070 for self-assess households

       11 Comments

       Fresh calls for early state pension access as Labour may bring forward age increase to 68

       11 Comments

       Little-known inheritance tax rule could slash £70,000 off your bill

       3 Comments

       An HM Treasury spokesperson said: “Older people should be able to live with the dignity and respect they deserve, and the State Pension is the foundation for this.

       “We are committed to the Triple Lock, and pensioners whose sole income is the new state pension and who have not deferred or receive protected payments do not pay any income tax.”

       Related articles Sorry, but you’re not entitled to the state pension. You’ll get what Labour says Rachel Reeves facing calls to unleash £2billion death tax raid on pension pot... WASPI women in outcry at King's Speech as they fume over 'disastrous mistakes'

       SUBSCRIBE Invalid email

       We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy

       


标签:政治
关键词: income     pensions     free personal allowance     pensioners     Keir Starmer     Comments     retirement tax     Labour's    
滚动新闻