Pensioners are finding themselves hit with increased incomes tax

Thousands of working pensioners found themselves ensnared in the income tax trap last year, as frozen thresholds yanked them into the higher tax bracket.

According to a freedom of information request to HMRC by I nteractive Investor , 77,000 pensioners found themselves paying 60 per cent income tax, up from just 34,000 three years ago.

It was also a 13 per cent jump from the 2023/24 financial year where 68,000 people were slapped with the hefty tax bill.

High earner…but not wealthy

More pensioners have found themselves being subjected to the tax, despite not considering themselves wealthy.

Rising inflation has caused employers to consistently boost wages in recent years, but the Treasury has continued to ignore calls

See Full Page