HMRC Will Tax Your UK State Pension From April 2027 — Here's Exactly How Much You'll Pay

HMRC will start charging income tax on the full UK State Pension from April 2027 — for the first time since 1948. If you receive or expect to receive the State Pension, this affects you. Here's exactly how much you'll pay, by year, and the 5 actions to take this year to minimise the damage.

This video breaks down the collision between the frozen Personal Allowance (£12,570) and the rising State Pension under the triple lock — and what it really means in pounds for British pensioners across four real income scenarios.

You'll see:

→ Why £12,570 (Personal Allowance) and April 2027 are the two numbers that change everything
→ Year-by-year projected tax bills from 2026/27 to 2030/31
→ Four real income scenarios (State Pension only, +£5K, +£10K, +£40K workplace pension)
→ How Scotland's six tax bands change the calculation
→ Five actionable steps every pensioner should take this year — including the Marriage Allowance refund of up to £1,260 that two million couples never claim

📊 KEY FIGURES (VERIFIED MAY 2026):
- Personal Allowance: £12,570 — frozen until April 2031
- Full new State Pension 2026/27: £241.30/week, £12,547.60/year
- Gap to threshold: £22.40 (the smallest gap in British pension history)
- OBR forecast: 1 million extra pensioners pulled into tax by 2030/31
- Triple lock 2026/27 increase: +4.8%
- Marriage Allowance: £1,260 transfer = up to £252/year saving (backdate 4 years = up to £1,008 refund)
- ISA annual allowance: £20,000 — tax-free wrapper for savings
- Pension lump sum age: 55 now, rising to 57 in April 2028
- State Pension deferral rate: +1% per 9 weeks deferred (~5.8% per year)

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⚠️ DISCLAIMER: This video is for educational purposes only and does not constitute financial advice. All tax figures are based on May 2026 OBR forecasts and HMRC rules and may change with future Budgets. For personalised guidance, consult an FCA-regulated financial adviser or book a free 30-minute Pension Wise appointment through MoneyHelper.

🔗 USEFUL OFFICIAL LINKS:
- Check your State Pension forecast — gov.uk/check-state-pension
- Marriage Allowance application — gov.uk/marriage-allowance
- Personal Savings Allowance — gov.uk/apply-tax-free-interest-on-savings
- Pension Wise (free guidance) — moneyhelper.org.uk/pensionwise
- ISA rules and limits — gov.uk/individual-savings-accounts

📚 SOURCES:
- HMRC — Personal Allowance and Income Tax rates 2026/27
- DWP — State Pension rates April 2026
- OBR — Spring 2026 Fiscal Forecast
- gov.scot — Scottish Income Tax bands 2026/27
- Autumn Budget 2025 — Personal Allowance freeze extension to April 2031

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Видео HMRC Will Tax Your UK State Pension From April 2027 — Here's Exactly How Much You'll Pay канала Henry's UK Pension Plan