1 week ago Why isn't there a special allowance so pensioners on low incomes don't pay tax? STEVE WEBB replies

I'm confused over what is going on with the state pension and tax once it goes through the tax-free personal allowance.

Economics

3 w. ago Personal tax threshold £759 update as Rachel Reeves announces freeze for three more years

The personal tax threshold has been frozen in the Budget on Wednesday, with the move set to hit millions of workers

Economics

3 w. ago Budget 2025 live: Income tax thresholds to be frozen for three years in budget, OBR leak indicates

Forecasts from the Office for Budget Responsibility were accidentally published before Rachel Reeves gives her statementUK borrowing costs fall after early release of budget forecasts – business liveCould you do better than Reeves? Play our gamePaul Nowak, the TUC general secretary, has rejected the concerns raised by the Resolution Foundation (see 9.54am) about the rise in the minimum wage rates. Asked about the thinktank’s comments, Nowak told Times Radio:I don’t accept those concerns ...First of all, that recommendation is based on the Low Pay Commission, which brings together employers, unions, independent experts, they’re tasked with making a recommendation on the minimum wage, which balances getting money into people’s pockets and the impact on unemployment. Continue reading...

Economics

3 w. ago Budget 2025 LIVE: Early release fiasco reveals income tax thresholds frozen for another THREE years in £26billion tax raid

Office for Budget Responsibility increases its forecast for economic growth this year from 1% to 1.5% but downgraded its forecasts for the following four years

Economics

3 w. ago Fury at 5m Brits paid NOT to work – as Reeves’s Budget will make 10m pensioners pay income tax

FIVE million people are now on benefits with no requirement to work — as Rachel Reeves gets ready to hike taxes to pay for even more welfare spending. The revelation ahead of tomorrow’s Budget sparked claims that Britain is in the grips of a welfare “crisis”. While benefits spiral, it emerged 10 million pensioners could...

Economics

3 w. ago 10 million pensioners could pay income tax by 2030 if Budget freeze confirmed

If the Chancellor were to extend the freeze on income tax thresholds for another two years, an extra half a million state pensioners would pay income tax

Economics

3 w. ago Ten MILLION pensioners could pay income tax by 2030 if threshold is frozen again in Budget

Many pensioners already earn over the £12,570 personal allowance, landing them with an income tax bill. If the threshold is frozen until 2030 that number will soar.

Economics