Healey is expected to shield low-income pensioners from income tax – but how will it work?

Retirees will get a personal allowance aligned with the new state pension, but experts say it could get complicated Retirees in the UK on low incomes are expected to be given a new personal allowance so that they do not have to hand any of their state pension to HMRC.

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The full details are due to be revealed by the chancellor, John Healey, in Wednesday’s budget, but here is what we know so far. Continue reading...