View Image

Two million state pensioners have been warned they could lose their £300 Winter Fuel Payments. If your annual income exceeds £35,000, you will be required to repay your Winter Fuel Payment.

The funds will initially be sent to you, but HMRC will subsequently reclaim it through the tax system. In most instances, the Winter Fuel Payment will be automatically recouped via PAYE by altering your tax code.

If you're already using self-assessment, then it will need to be included in your tax return. The £35,000 income eligibility is based on your individual income - so it may be that one person in your household gets to keep their share of the Winter Fuel Payment, while someone else has to pay their bit back.

READ MORE Drivers face new monitoring device in cars under UK pay-per-mile

See Full Page