📢 Big News for State Pensioners! 📢
There’s a growing buzz around a petition asking the government to double the tax-free allowance for pensioners! 🚀✍️ With over 31,000 signatures, it’s gaining momentum and could be up for debate if it hits the 100,000 mark! 💬
Currently, if you’re receiving the State Pension in the UK, anything above £12,570 in income is taxed, just like everyone else. But campaigners want a special tax code for pensioners, effectively doubling this allowance. This means more money in your pocket for those golden years! 🎉
However, not everyone is on board. HM Treasury has responded, calling the move “costly and untargeted,” arguing it would mainly benefit wealthier pensioners. ⚖️ They highlighted the Triple Lock commitment, ensuring pensions rise significantly each year. 📈
Adding to that, there are plans to simplify the tax system by 2027-28, reducing hassle for those on basic State Pensions exceeding the Personal Allowance. 📝
While this major change is on the table, another petition earlier this year aimed to make the State Pension completely tax-free—but it didn’t gather enough support. 🤔
What are your thoughts? Should pensioners get a tax break, or is the current system fair enough? Let us know your opinion! 💬👇 #StatePension #TaxAllowance #PensionNews 🌟