https://birminghamdaily.co.uk/tags/personalallowances/Recent content in personalallowances on Birmingham DailyHugo -- gohugo.ioen-usFri, 01 May 2026 05:13:10 +0000https://birminghamdaily.co.uk/hmrc-alters-tax-bands-impacting-one-million-state-pensioners/Fri, 01 May 2026 05:13:10 +0000https://birminghamdaily.co.uk/hmrc-alters-tax-bands-impacting-one-million-state-pensioners/HM Revenue and Customs (HMRC) has adjusted the tax brackets, affecting one million state pensioners. Under the guidance of Labour Party Chancellor Rachel Reeves, this change has resulted in more than 300,000 additional pensioners facing higher tax rates. According to recent HMRC data, the number of individuals paying the additional income tax rate rose sharply, reaching 893,000 by the end of 2024. This includes 324,000 people who have now entered the highest income tax band.