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State Pension Tax Rules Change | Leeds News
State pension tax rules are about to change in a way that could surprise many retirees. For years, people believed their state pension was fully tax-free, but in reality, it’s always been taxable—just not deducted at the source. HMRC handles the tax, adjusting your tax code to protect your personal allowance for other income. But with the triple lock pushing the full state pension above the £12,570 tax-free threshold by 2027, the government has introduced a special exemption for those whose only income is the state pension. This means they won’t pay tax—even if it exceeds the allowance…
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