The number of pensioners set to pay tax on their savings will exceed two million for the first time according to new figures, more than quadrupling over the last four years.
Data released by HMRC shows that the number of people aged 65 and older who must pay tax on interest accrued on their savings is forecast to rise from 517,000 in 2022/23 to 2.1 million in 2026/27.
