HMRC Confirms £500 Bank Deduction for UK Pensioners – Must Know Now
Starting 11 November 2025, HM Revenue & Customs (HMRC) will begin applying automatic bank deductions of up to £500 from certain pensioners’ accounts. This new rule forms part of the government’s strategy to tighten tax compliance, recover benefit overpayments, and close long-standing revenue gaps involving retirees with complex income profiles. HMRC Confirms £500 Bank Deduction … Read more