.Pensioners could see an increase in their HMRC personal allowance following a new tax announcement as part of the budget.

Addressing MPs, Chancellor Rachel Reeves said that pensioners wouldn't be made to pay small amounts of tax on their state pensions if they exceed the £12,570 limit.

But, it wasn't clear how that would work, or if it would involve an increase in personal allowance. Speaking to Martin Lewis, Ms Reeves clarified, saying: "So if you just have a state pension, we are not going to make you fill in a tax return of any type. Yes, and so we make that commitment for this parliament. You're right. 2027 looks like the time that it will cross over.

"We are working on a solution as we speak, to ensure that we're not going after tiny amounts of money."

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