800,000 risk being overtaxed on pensions, warns Royal London

The group, which has published a new guide, Decoding your tax code, estimates some 800,000 people under state pension age are receiving pensions but should be non-taxpayers because their total income is below the personal allowance (£11,500 in 2017/18). Royal London policy director Steve Webb (pictured), the guide's author, said this could be a particular issue for those who have multiple sources of taxable income, such as a wage and a pension or multiple pensions. Around 30 million people in the UK pay income tax but only around 10 million of these fill in a tax return, according to ...