Around 12m State Pensioners will be more than £800 a year better off from 6 April but the extra cash could push many into a tax-paying bracket for the first time, experts have warned.

Financial advisers have called on the Government to prioritise pension reforms that would lessen the tax burden on clients.

Chancellor Jeremy Hunt has announced a cut to employees’ National Insurance from 10% to 8% from April as one of a raft of measures announced in his Spring Budget today.

Chancellor Jeremy Hunt announced in his Spring Budget today that the Government will scrap and reform the tax status benefiting individuals who are non-domiciled in the UK.