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flag UK pensioners urged to check tax records due to savings interest reporting errors.

flag HMRC is urging UK pensioners to check their tax records after a taxpayer reported errors in savings interest reporting. flag Basic rate taxpayers can earn £1,000 in tax-free interest annually, but this allowance phases out at £17,570 in income. flag Higher rate taxpayers get £500, and additional rate earners get none. flag A starter rate applies for those above the £12,570 personal allowance, decreasing by £1 for every £1 earned over that threshold. flag HMRC advises contacting them by phone (8am–6pm, Mon–Fri) or in writing to correct discrepancies, with shorter wait times early in the day. flag 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.

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