Nearly 700,000 pensioners in the UK have received end-of-year tax demands from HMRC, with an average bill of £665 each, according to recent data. This marks a significant increase of over 120,000 people compared to two years ago. The rise is largely attributed to the ongoing freeze in tax-free allowances, coupled with annual increases in state pension payments. As the personal allowance threshold remains fixed at £12,570 since April 2021, more retirees are finding themselves pushed into the tax net. This trend is expected to continue, potentially affecting even more pensioners in the coming ye…