£420 Bank Deduction for UK Pensioners Confirmed, New HMRC Rule Explained – Effective from 5 October
HM Revenue and Customs (HMRC) has officially confirmed a new £420 bank deduction that will impact thousands of UK pensioners starting 5 October 2025. The change, which comes as part of HMRC’s wider effort to streamline tax collection and recover underpaid amounts automatically, has sparked concern and confusion among retirees who rely heavily on their … Read more