By James Rodger
HMRC is sending “stealth tax” letters to state pensioners who now face having to pay tax. Millions of Britain鈥檚 poorest pensioners look set to be hit by a so-called “stealth tax” as the Labour Party government tries to plug a hole in the public finances. Pensioners face being hit by a “stealth tax” and could be forced to pay income tax as early as next year, even if they have no other income. This is because the personal allowance – the amount of income you can have before you start to pay tax – is stuck at 拢12,570 at least until 2028. Meanwhile the state pension, which is currently at 拢11,973 a year, is on track to go over that limit due to the triple lock system. Under the triple lock, the state pension increases by whichever is highest out of the rate of inflation, annual earnings growth or 2.5%. READ MORE Next UK heatwave set to be ‘even hotter than expected’ and will start within days If average earnings continue to grow at their current rate of 5.2%, next year’s state pension will rise above the income tax threshold for the first time. It means pensioners relying entirely on the state pension will need to pay the basic tax rate of 20% on any amount above the personal allowance limit. Conservative Party Shadow Chancellor Sir Mel Stride told The Mail on Sunday: “At the election last year the Conservatives promised to protect the state pension from being dragged into tax 鈥 Labour chose not to match that commitment. “They claim to be protecting pensioners through the triple lock, but this stealth tax will erode its value.” Dennis Reed, director of Silver Voices, a campaign group for pensioners, accused Labour of a 鈥渕ean approach鈥 and betraying the triple lock pledge it made at last year’s election. He said: 鈥淚f triple lock increases start being taxed it obviously is a betrayal because Labour promised to keep the triple lock at the existing formula for the whole of this Parliament. It’s a rather sneaky way round of undermining the triple lock.鈥