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Evening Standard

Vicky Shaw

More than 1.1m people over pension age could pay income tax on savings accounts

Income Tax AJ Bell Charlene Young

More than 1.1 million savers over state pension age are facing a tax bill for interest earned on their pots of cash, according to HM Revenue and Customs (HMRC) figures.

Some 1,160,000 people over state pension age are expected to incur an income tax liability on their savings income in 2025-26, according to the figures, obtained by investment platform AJ Bell.

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