Martin Lewis issues state pension warning after Budget

Martin Lewis issues huge state pension update after BudgetSource: ITV

Transcript

00:00I'm going to start, if that's OK, with Rebecca, who says,

00:03does my 85-year-old father, who's living with dementia,

00:06now have to complete a tax return as his state pension will take him over the personal allowance?

00:11So, if you just have a state pension, you don't have any other pension,

00:18we are not going to make you fill in a tax return.

00:21Of any type?

00:22Yes. And so, I make that commitment for this Parliament.

00:27You're right, 2027 looks like the time that it will cross over.

00:32We are working on a solution, as we speak,

00:36to ensure that we're not going after tiny amounts of money.

00:41But people will have to pay the tax, they just won't have to do a return,

00:44or will they not have to pay the tax?

00:45In this Parliament, they won't have to pay the tax.

00:48OK.

00:49You know, further out, I won't be able to make any commitments on that,

00:53but we're just looking at a simple workaround at the moment.