The State Pension might be taxed via PAYE for the first time ever.

The Treasury is currently working on a plan to deduct tax at source because the State Pension is projected to exceed the personal allowance threshold next year. Previously, most pensioners didn't need to file tax returns, but this new system could automatically strip 20% before the pension is paid out. With 12 million people on the state pension roll, it would instantly turn the government into the nation's largest employer. Listen for more on tomorrow's episode of Business As Usual, brought to you by Okta. #StatePension #UKTax #PAYE #FinanceNews #Retirement #UKPolitics #Shorts