The Telegraph reported that Chancellor John Healey is expected to raise the tax-free allowance for low-income pensioners to £13,036 in his Autumn Budget, a move that could benefit nearly one million pensioners. Healey will confirm the full state pension uprating on October 28, projected to rise £489 to £13,036, or 3.9 per cent, which pushes pensioners over the personal allowance threshold that has been frozen. Steve Webb of LCP called it a decidedly pensioner-friendly budget. Healey is also reportedly keeping the tax-free lump sum percentage on private pensions unchanged and the maximum tax-free amount at £268,275, rather than cutting it to £100,000 as had been suggested. Lib Dem Treasury spokeswoman Daisy Cooper said the tax burden on key workers reflects a 'stealth tax raid' started by the Conservatives and continued by Labour.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: John Healey to announce new HMRC personal tax - free allowance for 1 million
Read the original on birminghammail.co.uk ↗
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| Market | Currencies |
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| Close on 10/23/2026 | 1.33804 |
| Change that session | -0.15% |
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