Experts warn frozen tax thresholds could drag more pensioners into paying income tax Experts warned that the gap between the State Pension and the tax-free limit is narrowing quickly(Image: Getty) Experts have warned that the latest State Pension rise under the Triple Lock could leave more pensioners vulnerable to income tax bills. The Triple Lock
From Cambridge to Beverley, Bristol to Saltburn, mayors and local leaders across the country are planning on using new powers to impose tourist taxes on UK staycations, The Telegraph has reported. As many as 10 of England’s 14 regional mayors are planning to or considering implementing these “overnight visitor levies”. The move threatens to add
Mr Burnham’s comments came after Wes Streeting, a rival leadership contender, attempted to win over the soft-Left faction of the party by proposing to raise the rate of capital gains tax in line with income tax if he became prime minister. Mr Streeting, who is perceived to be on the Right of the party, said
A record 3.8m investors and business owners are expected to pay dividend tax in 2026-27. Many are still reeling from the fact the annual tax-free allowance for dividends has faced some pretty savage cuts, most recently in 2024. As a result of this unwelcome tax raid, far more individuals are now facing charges on their
Andy Burnham has vowed not to raise income tax, VAT, or employee national insurance rates if he succeeds Sir Keir Starmer as prime minister. The Mayor of Greater Manchester launched his campaign as Labour’s candidate for the Makerfield by-election on Friday, promising to lower energy and water bills – and oversee the largest building of
The tax burden on households has soared again as the impact of fiscal drag continues to pull more workers into the tax net. Borrowing figures show the Chancellor’s headroom is under pressure and with a Labour leadership imminent, experts say higher taxes are here to stay. New figures show HMRC collected £87.3billion in taxes in
Rachel Reeves has confirmed the work mileage allowance for under 10,000 miles will rise by 10p to 55p and will be backdated to April 2026. Drivers have now given their verdict on the update Rachel Reeves has confirmed the work mileage allowance for under 10,000 miles will rise by 10p to 55p(Image: Wiktor Szymanowicz/Future Publishing
MPs are set to clash after backing soared piling pressure on Chancellor Rachel Reeves to defend the Treasury’s position on UK pensioners’ personal allowance Pressure is growing on Rachel Reeves to change pensioner tax thresholds(Image: Getty Images) A significant development has emerged for pensioners hopeful that Chancellor Rachel Reeves will double the income tax threshold
HMRC has begun contacting customers about the rollout of Making Tax Digital (MTD) for Income Tax, which will completely change how millions of people report earnings from self-employment and property income. And many people may not realise they are already on course to be affected. In guidance sent to customers, HMRC warned: “If you get
LONDON, May 21 (Reuters) – Former British health minister Wes Streeting, a potential candidate for the leadership of the Labour Party, said he backed the introduction of tax changes which would equalise capital gains tax with income tax to make the system “fairer”. Streeting said on Saturday that he wanted to challenge embattled Prime Minister