Number of pensioners paying income tax soars to more than 8.5 million

HMRC figures show 660,000 more pension-age income taxpayers over last year, a 10% rise

Jasmine Urquhart
clock • 1 min read
Number of pensioners paying income tax soars to more than 8.5 million

The number of pensioners paying income tax has risen to 8.51 million over the last year, according to figures from HM Revenue and Customs (HMRC).

The figures for the 2023/24 tax year showed almost 10% more (660,000) were paying income tax while over the state pension page, up from 7.85 million last year. In addition, more than two million...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Industry

LCP publishes 2025/26 annual report

LCP publishes 2025/26 annual report

Consultancy’s report showed PRT team led on transactions totalling £7.8bn in 2025

Martin Richmond
clock 03 August 2026 • 1 min read
Greater investment choice could drive pension engagement, says Penfold

Greater investment choice could drive pension engagement, says Penfold

Digital provider suggests guidance should be balanced with choice

Alex Levy
clock 03 August 2026 • 2 min read
Government confirms date for Autumn Budget 2026

Government confirms date for Autumn Budget 2026

John Healey’s first Budget as chancellor will take place on Wednesday 28 October

Holly Roach
clock 03 August 2026 • 2 min read
Trustpilot