What is the tax free allowance for pensioners in UK?
What is the tax free allowance for pensioners in UK? Do you pay tax on your pension? The short answer is yes, income from pensions is taxed like any other kind of income. You have a personal allowance (£12,570 for the 2023/24 tax year) on which you pay no income tax, and then you pay 20% tax on income of between £12,571 to £50,270 before higher rate tax kicks in.
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