The top rate of income tax should be increased to 52pc to pay for workplace benefits for the self-employed, a Right-leaning think tank has said. This extra funding should be raised alongside a complete overhaul of National Insurance (NI) to facilitate offering the self-employed Universal Credit, parental leave and sickness pay, as well as state-funded
You may need to contact HMRC about the issue You may need to contact HMRC about a tax bill(Image: Getty) HMRC has clarified the rules around a £10,000 limit that applies to some taxpayers. A customer asked for help after receiving a message from their bank. The customer asked how to report dividend income from
Historically, Westminster has been more reliant on government funding because of its low tax take. But the Government has stripped back its funding over the next four years from £219m to £119m. Combined with an expected rise in costs, demand for services and inflation, the council believes it will be left with a £160m shortfall
New figures from HMRC show 30,440 people reported breaching their pension annual allowance during the 2024/25 tax year, up from 24,950 a year earlier – a jump of 22%. The total amount contributed above the limit also soared from £505 million to £672 million, an increase of 33% in just 12 months. The figures are
HMRC introduced the rules in April to collect more data on business owners as part of its mission to close the tax gap. Small businesses account for 62pc of the UK’s £59.2bn in uncollected tax. But the ATT said HMRC’s published guidance on the rules could cause confusion for business owners. In its notes accompanying
Wednesday 05 August 2026 6:00 am | Updated: Tuesday 04 August 2026 2:56 pm Marianna Hunt is back to answer your burning personal finance questions Got a question for our expert? Email asktheexpert@cityam.com Fidelity personal financial specialist Marianna Hunt is back on hand to answer your burning questions, and today a reader is looking to avoid
Campaigners have renewed calls for a windfall tax on UK banks that could raise £19bn towards Andy Burnham’s cost of living agenda, after HSBC raked in $10.1bn (£7.5bn) worth of profits in the second quarter of the year. Bosses at HSBC reported on Tuesday that profits rose 60% year on year in the three months
HMRC has issued a fresh warning to parents The charge depends on the income of the higher-earning partner(Image: ArtistGNDphotography via Getty Images) Millions of mums and dads are being cautioned they could face an unforeseen tax demand. HM Revenue & Customs (HMRC) has issued a new warning reminding households that breaching the £60,000 earnings threshold
Children are not allowed both a Junior ISA (JISA) and a Child Trust Fund but many parents may not realise that they are making this mistake 11:50, 03 Aug 2026Updated 12:02, 03 Aug 2026 Children cannot have both a JISA and Child Trust Fund Parents who have opened a savings account for their child are
On Tuesday 4 August, a government consultation quietly closes. On Friday 7 August, more than 860,000 sole traders and landlords must file their first Making Tax Digital quarterly update. The deadline made the news. The consultation did not. It should have, because the consultation is the point of the deadline. For years, HMRC assured the