Millions of pensioners across Britain are now just £22 away from crossing the income tax threshold, as rising State Pension payments continue to close the gap with the frozen Personal Allowance. The issue could leave many retirees facing an unexpected tax bill, particularly those with income from workplace pensions, savings or part-time work. With the
A pensioner raised concerns they would pay ‘above the normal rate’ 10:47, 15 Jun 2026Updated 10:48, 15 Jun 2026 HMRC has clarified how tax codes work(Image: Getty) HMRC has clarified how tax codes work for pensioners. The department issued the update after concerns were raised about people being placed on a higher tax rate. A
The Government announced the new tax plans last year Major changes to tax on the state pension are coming in(Image: Getty) Concerns have been raised regarding a major change to tax on the state pension. The Government has set out that the new policy will be brought in very soon. The new measure will necessitate
New legislation will be needed to enact the tax changes Key changes to the state pension are coming in soon(Image: Getty) State pensioners have been urged to review their tax responsibilities as new regulations are soon to be introduced. HMRC has confirmed that legislation will be presented to Parliament soon as part of the changes.
The number of individuals getting taxed on their savings interest has risen sharply because of rising interest rates and frozen allowances. More than 2.7 million savers are expected to pay tax on their savings income in 2026-27, up from 2.2 million in 2023-24, according to official statistics. Savers pay income tax at their marginal rate
The change will happen within months Christian Abbott Audience Writer and Taite Johnson Audience and Trending Writer 21:33, 11 Jun 2026 Inheritance tax will see significant changes from next year, affecting more than 10,000 households across the UK. HMRC has confirmed the amendments will take effect at the beginning of the forthcoming tax year on
8:01 AM, 11th June 2026, 3 days ago 10 The government claim Making Tax Digital works “well for those who need it”, despite ongoing criticism over the scheme. The controversial scheme came into force in April this year, with landlords earning more than £50,000 required to keep digital records and submit quarterly updates to HMRC
He told the court he believed a 2005 merger of the two agencies was intended to raise the legal standards, but he said: “I’m afraid standards have dropped. “Nowadays, you have all sorts of so-called specialists who are quite sure they know everything about everything. “They don’t take external advice and they don’t take internal
Reform UK would raise the threshold at which sole traders start paying VAT to £150,000 to support “alarm clock Britain”. Nigel Farage said the existing threshold of £90,000 acted as a “tax on ambition” because tens of thousands of firms were choosing not to expand, preferring to stay away from the tax cliff edge. Businesses
Around 4.4 million Nationwide members are receiving a £100 Fairer Share payment – but there could be tax implications Nationwide has started making its Fairer Share payments Nationwide Building Society has confirmed it has already distributed its latest round of Fairer Share payments to over four million eligible members. The most recent Fairer Share payments,