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HMRC Sent 1.32 Million Year-End Tax Bills in 2023/24 as Fiscal Drag Hits Pensioners

New FOI data show a near-doubling in two years, with warnings that 2024/25 totals could climb further.

Overview

  • Freedom of Information figures obtained by LCP’s Steve Webb show more than 1.32 million ‘simple assessment’ notices were issued in 2023/24, up from around 675,000 in 2021/22.
  • HMRC uses simple assessments to collect tax from people without a PAYE route, notably state pensioners without private pensions and some savers with untaxed interest.
  • Most bills were modest, with 24% for £100 or less and 15% for £101–£200, and roughly three-quarters under £1,000.
  • A significant minority faced larger charges, including 10% owing £1,001–£2,000 and 13% exceeding £2,000.
  • Webb projects the total could surpass two million for 2024/25, while the government plans from April 2027 to exempt people whose only income is the state pension, with operational details yet to be set out.