Retired baby boomers over 70 are may be paying income tax than the under 30s, data from HMRC suggests. Around 5.45 million Britons born by 1953 paid income tax in the 2022-23 financial year against compared with 5.23 million in Gen Z – those born between 1995 and 2012. In that year, the latest for which statistics ar available, over-70s paid £19.1bn in income tax, compared with £18.3bn by the younger age group. It is possible that the comparison is skewed to some extent by a small number of very high income individual silvers still working but the figures are yet another illustration of the value of marketing that appeals to to older consumers.
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