400,000 to get warning letter from HMRC over new bill - MSN

U p to 400,000 pensioners are set to get warning letters from HMRC after a change this month means they will now have to pay a new bill. The warning comes after the state pension …

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State Pension Warning As 400,000 Brits Face Unexpected HMRC Bill

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Apr 12, 2024 · According to HMRC statistics, the number of those aged 65 and over paying income tax surged by 10% from 7.73 million in 2022/23 to 8.5 million in 2023/24 following the …

mirror.co.uk

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HMRC Issues 'unexpected' Bill To 400,000 People After 'assessment'

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Apr 12, 2024 · "With an 8.5 per cent increase in state pension from April, pensioners receiving over £242 per week may enter the tax net. The frozen tax threshold of £12,570 heightens the …

yahoo.com

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State Pension Warning As 400,000 Brits Face Unexpected HMRC Bill

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Apr 12, 2024 · HMRC figures reveal a significant increase in the number of people aged 65 and over paying income tax, with numbers rising by 10% from 7.73 million in the 2022/23 tax year …

leicestermercury.co.uk

£221.20
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State Pension Warning As 400,000 British People Face Unexpected …

2 weeks from now

State pension warning as 400,000 British people face unexpected HMRC bill. ... while the full new state pension has risen to £221.20, resulting in annual incomes of £8,814 and £11,502 ...

msn.com

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DWP: State Pension Warning As 400,000 Brits Face Unexpected …

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However, this upturn could inadvertently propel approximately 400,000 individuals into higher income tax brackets. The basic state pension has been revised to £169.50 weekly, while the …

msn.com

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HMRC Issues Warning For Anyone Who's Paid Tax 'going Back 20 …

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The monetary value of disclosures resulting from these letters almost trebled between 2022/23 and 2023/24 from £19.6 million to £57.2 million.HMRC can presently raise discovery …

msn.com

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HMRC January 31 Tax Warning Issued Amid Concern At 'confusion'

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Platforms have to tell HMRC if someone makes more than £1,700 in a year or completes 30 transactions. At the same time, everyone has a trading allowance each tax year, which means …

msn.com

FAQs about 400,000 to get warning letter from HMRC over new bill - MSN Coupon?

Will pensioners get a warning letter from HMRC?

Up to 400,000 pensioners are set to get warning letters from HMRC after a change this month means they will now have to pay a new bill. The warning comes after the state pension increased by 8.5 per cent at the start of April, and while this is good news for many it means that for some, there will be new bills to pay. ...

Will HM Revenue & Customs send warning letters to pensioners?

Up to 400,000 pensioners are set to receive warning letters from HM Revenue and Customs (HMRC) this month over a new bill. The state pension increased by 8.5 per cent at the start of April with the full basic state pension rising to £8,814 and the new state pension to £11,502. ...

Could you get an unexpected tax bill from HMRC?

A tax warning has gone out to thousands of savers who could get an unexpected tax bill from HMRC. Data from the tax authority indicates that over two million people will pay tax on their savings interest this tax year, a significant increase from 1.17 million in the previous tax year. ...

What should I do if I receive a letter from HMRC?

Park says: “Anyone receiving one of these letters should seek urgent specialist advice. Recipients should treat the letters as putting them on notice that their overseas tax affairs are at high risk of formal investigation by HMRC. Making a prompted disclosure will significantly mitigate the potential liabilities.” ...

Why did HMRC send a bill to DWP pensioners?

400,000 people on the Department for Work and Pensions State Pension have been sent an unexpected HMRC bill. HMRC has sent the bill to hundreds of thousands of DWP State Pension claimants amid the Cost of Living crisis. It comes as frozen tax thresholds leave many pensioners owing cash to the taxman. ...

Are pensioners at risk of a HMRC Bill?

A warning has been issued to hundreds of thousands of pensioners across the country to expect an HMRC bill for the first time. 340,000 pensioners are at risk of a bill coming through the door from the government tax department as the Triple Lock brings a £460 hike. ...