8 h. ago Tax rises: Freeze on income tax thresholds for millions left on table by Treasury minister Darren Jones

The Government has promised not to raise the ‘headline rate’ of income tax but has left open the possibility of freezing the thresholds for paying the levy

Politics

8 h. ago Treasury minister says ‘headline’ rate of income tax won’t go up, in hint thresholds might be frozen in budget – UK politics live

Darren Jones also declines to rule out wealth tax when questioned about government plansRecord-breaking extreme weather is the new norm in the UK, a report by the Met Office says. Damian Carrington has the story.Here is the Met Office summary. And here is the full report.The number of days with temperatures 5°C above the 1961-1990 average has doubled for the most recent decade 2015-2024 compared to 1961-1990. For 8°C above average the number has trebled and for 10°C it has quadrupled. This shows how the hottest days we experience in the UK have increased in frequency dramatically in just a few decades. Continue reading...

Politics

10 h. ago Income tax threshold freeze for millions beyond 2028 left on table by Treasury minister Darren Jones

The Government has promised not to raise the ‘headline rate’ of income tax but has left open the possibility of freezing the thresholds for paying the levy

Politics

5 d. ago Copper prices in US hit record high after Trump announces 50% tariff

Latest escalation in trade war is expected to push up costs across key parts of US economyBusiness live – latest updatesCopper prices hit a record high in the US after Donald Trump announced he would impose a 50% tariff on the industrial metal, in the latest escalation in his trade war.Trump said before a cabinet meeting on Tuesday: “Today we’re doing copper,” proposing a 50% tariff rate for imports. He also threatened to impose a 200% border tax on pharmaceuticals but in a year or year and a half’s time. Continue reading...

Politics

6 d. ago Half a million Universal Credit claimants due £25 cash boost

The account is exclusive to people receiving Universal credit and earning £1 or more per month

Economics

1 week ago HMRC urges people earning money through side hustles to sort out tax returns now

If you earn more than £1,000 from additional income, you may need to register for Self Assessment.

Economics

2 w. ago HMRC confirms over seven million people set to pay higher rate of income tax this year

Frozen tax thresholds have pushed people into higher brackets as their pay has increased.

Economics

2 w. ago HMRC to impose higher tax rate on 7m UK households as frozen thresholds take effect

The number of people paying higher rate tax is expected to hit more than 7 million this year as HMRC issues a warning to 5 million people who will pay the highest rate of tax

Politics

2 w. ago Warning for higher rate taxpayers with more than £14,500 in savings

The number of higher rate tax payers is set to balloon to more than 7million - and they must pay tax on savings interest over £500.

Economics

2 w. ago Warning for higher rate taxpayers with more than £14,500 saved

The number of higher rate tax payers is set to balloon to more than 7million - and they must pay tax on savings interest over £500.

Economics

2 w. ago HMRC to write to 1 million people who are in for a stealthy tax ambush this year

The number of Brits who will be hit by the higher rate of income tax - which is currently 40% - is set to rise with the number of pensioners above state pension age

Economics

2 w. ago Over one million pensioners set to pay higher rate of income tax this year

The Personal Allowance will be frozen at £12,570 until April 2028.

Economics

3 w. ago New call to cut income tax rate in half for people earning under £50,000

An online petition is also urging the UK Government to increase the Personal Allowance to £15,000.

Economics

3 w. ago Reeves promised oil industry ‘quid pro quo’ over windfall tax in private meeting

Government accused of making ‘secret exchange deal’ with fossil fuel companies to compensate for tax hikeThe chancellor, Rachel Reeves, told a fossil fuel company the industry would receive a “quid pro quo” in return for higher taxes on its windfall profits, it can be revealed.In a meeting with the Norwegian state energy company Equinor on 27 August, Reeves suggested that the government’s carbon capture, usage and storage (CCUS) subsidies were a payoff for oil firms being hit with a higher tax rate. Continue reading...

Economics

4 w. ago People with second jobs who earn more than £1,000 urged to contact HMRC

Earning extra income could well mean that you need to speak to the officials at HM Revenue and Customs

Economics