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State pensioners could be hit with surprise new tax bill from this date
['Nicholas Dawson']
Bristol Post - News
State pensioners could be hit with surprise new tax bill from this dateState pension rates increase each year thanks to the triple lockView Image More state pensioners are set to be dragged into paying tax (Image: Getty)Many state pensioners could be in for a shock as they may face a new tax bill in the coming years.
But this means that the full new state pension is edging ever closer to using up the personal allowance.
The personal allowance is the maximum amount you can earn each year without paying income tax, and is currently set at £12,570.
The rising costs of the state pension also raises the question of how long the triple lock pledge will be sustainable.
Looking at what other reforms are needed for the state pension, Ms Megson-Harvey warned that there are no easy solutions.