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UK pensioners urged to check tax records due to savings interest reporting errors.
HMRC is urging UK pensioners to check their tax records after a taxpayer reported errors in savings interest reporting.
Basic rate taxpayers can earn £1,000 in tax-free interest annually, but this allowance phases out at £17,570 in income.
Higher rate taxpayers get £500, and additional rate earners get none.
A starter rate applies for those above the £12,570 personal allowance, decreasing by £1 for every £1 earned over that threshold.
HMRC advises contacting them by phone (8am–6pm, Mon–Fri) or in writing to correct discrepancies, with shorter wait times early in the day.
ISA rules will change in April 2027, reducing the total allowance to £12,000 for most, but those aged 65 and over will keep the £20,000 limit.
Se insta a los pensionistas del Reino Unido a comprobar los registros fiscales debido a errores en la declaración de intereses de ahorro.