Martin Lewis explains who pays tax on state pension – are you due a bill from HMRC? | Personal Finance | Finance
Martin Lewis has shared the key details on who pays tax on their state pension.
The financial expert took to X to explain how the system works as he has had lots of questions about it as the topic has been raised in the build up to the General Election.
He shared some key facts, including: “The state pension is, and has always been taxable income. The full state pension is currently £11,500 a year.
“The standard personal allowance (the amount you can earn before you pay income tax) is £12,570…