12 h. ago Top economist urges Reeves to raise basic rate of income tax for first time in 50 years

Institute for Fiscal Studies boss Paul Johnson warned Donald Trump’s trade war is ‘badly buffeting’ the UK economy

Economics

19 h. ago Some workers can get £18,570 tax free by using HMRC saving loophole

The government allows workers to earn up to £12,570 without paying income tax - but there is a way to increase this figure using a lesser-known HMRC tax loophole

Economics

7 d. ago A single London constituency pays more income tax than the WHOLE of Northern Ireland... so how much does your local area give to HMRC?

The research showed how 67,000 taxpayers in Kensington & Bayswater paid £4.2billion in income tax in 2022-23.

Economics

7 d. ago Starmer’s economic reset must include an honest debate about income tax

Editorial: In this ‘new world order’ the UK should look towards the Commonwealth, the EU and other nations for further trading relationships

Economics

8 d. ago No state has ended personal income taxes since 1980, but Mississippi and Kentucky may change that

About 45 years have passed since a state last eliminated its income tax on wages and salaries

Events

1 week ago In recruiting battle, lawmakers weigh whether to give college athletes a tax break on NIL earnings

At least four states are considering giving college athletes tax breaks on endorsement income

Events

2 w. ago HM Treasury income tax personal allowance 'rise' verdict after £20k threshold calls

HM Treasury has given its verdict following fresh calls to increase the tax free Personal Allowance (which has been stagnant at £12,570 since 2021) to £20,000 per year

Economics

2 w. ago HMRC warning over scheme where people pay ‘more tax than they tried to avoid’

It claims to cut your tax bill by disguising your income, but help is available for those that want out

Events

2 w. ago State Pension tax bill warning to older people before new pay rates start next week

Older people with only the State Pension as their source of income will not pay income tax.

Economics

2 w. ago Millions face paying back some of their state pension to HMRC in a stealth tax raid. Here, our money experts explain what you need to know... and what do to about it

A bizarre tax cliff edge will mean those who receive the full state pension will be taxed on that income - and low-income pensioners will be dragged into the tax system for the first time.

Economics

2 w. ago Pensioners face 'odd' letter from HMRC amid calls for urgent action to be taken

The latest figures for wages show an increase of around five per cent which means people of state pension age, born before 1959, could be dragged into paying income tax due

Politics

2 w. ago Graph reveals how UK tax burden will hit record high after Spring Statement

Income tax and national insurance contributions are the main drivers behind the jump in the overall tax burden

Events

2 w. ago What to expect from Rachel Reeves’s (brief) spring statement

Talk of tough choices ahead, an increase in debt financing, and more initiatives to promote growthThe spring statement offers an opportunity for Rachel Reeves to talk about progress since last October’s budget, the government’s growth agenda and how it is attempting to raise living standards. However, the chancellor’s message is likely to be defensive after being blown off course in recent months.Last year she promised “no return to austerity”. But after stalled tax receipts denied her the income she expected, and concerns over the global economy and Donald Trump’s antics raised the UK’s borrowing costs, Reeves is being forced to make cuts to stay within her budget rules. Here is what to expect from Reeves’s speech, which is predicted to be relatively short at just 25 minutes. Continue reading...

Politics

3 w. ago Income tax shock: London's bill hits nearly £64 billion a year

The bill for the two regions has jumped above £108 billion a year

Economics

3 w. ago Income tax shock: London and South East pay more than all of rest of England

Income tax shock: London and South East pay more than all of rest of England  Evening Standard

Economics

3 w. ago Income tax shock: London and South East now paying more than rest of England put together

Income tax shock: London and South East now paying more than rest of England put together  Evening Standard

Economics

3 w. ago Income tax shock: London and South East now pay more than rest of England put together

The bill for the two regions has jumped above £108 billion a year

Economics

3 w. ago Income tax cuts and jobs at risk due to trade war, Donohoe says

Government plans for tax cuts may have to be postponed due to the threat of a global trade war, the finance minister has said.

Events

3 w. ago New update on calls to make State Pension payments exempt from income tax

More than 104,000 people have signed an online petition calling for State Pensions to be exempt from income tax.

Economics

3 w. ago CBI boss urges SNP ministers to close income tax gap with England

Rain Newton-Smith said uncompetitive tax policies are a ‘handbrake on growth’

Politics