State pension age income taxpayer numbers continue to rise

For 2026-27, HMRC predicts there will nearly be a further 1.5 million more income taxpayers over the state pension age with the number estimated to reach 9.58 million. The personal allowance income tax threshold has been frozen at £12,570 since April 2021, with chancellor Rachel Reeves recently extending this freeze until April 2031. The number of over 65s paying tax has risen by more than three million in the five years since the tax threshold was frozen and has exceeded the ten million mark for the first time. A combination of a frozen tax-free allowance and significant year-on-y...