Thousands of people were forced to claw back overcharged tax totalling £44mn on withdrawals from their pension in the first three months of 2026, new figures from HM Revenue & Customs (HMRC) show. The scale of the problem has been mounting for years, and almost £1.6bn has now been reclaimed since 2015, according to AJ
April has brought a dense cluster of tax adjustments that businesses will feel immediately, so it’s vital that employers understand the changes and what they mean for their bottom line. The National Living Wage (NLW) increase for workers aged 21 and over will put further financial pressure on employers, now it has risen to £12.71.
The full New State Pension now stands at £12,547 for the 2026/27 tax year The complete New State Pension now stands at £12,547 throughout the 2026/27 tax year(Image: Connect Images via Getty Images) Financial experts have cautioned that the recent State Pension increase under the Triple Lock is pushing more pensioners towards paying income tax.
Frozen tax thresholds have pushed millions more into higher and additional-rate income tax Thresholds are set to be frozen for a total of a decade(Image: tattywelshie via Getty Images) Close to two million people across the UK have been dragged into the higher-rate income tax band since the beginning of this decade, according to new
A key change in the Income Tax Return (ITR) framework will alter tax filing for small businesses and freelancers. The Central Board of Direct Taxes (CBDT) has made investment disclosure mandatory in ITR-4 (Sugam), the form used by those opting for presumptive taxation. The rule will apply from Assessment Year 2026-27 (for
Millions of people will be affected by a range of savings, investment and tax changes that take effect in just under a year’s time. “April 2027 may feel some way off, but when it comes to financial planning, a year is not a long time,” says Jason Hollands at the wealth management firm Evelyn Partners.
New rules around car tax for certain models have been confirmed State pensioners face £400 bill from HMRC ‘if Rachel Reeves gets her way’ Owners of some cars will save hundreds of pounds this year following changes to tax rules. Some more expensive cars are subject to a so-called £425 ‘luxury’ tax, on top of
27 April, 2026 By Daniel Bosley Financial consultant warns removal of exemptions as part of landfill tax reforms will make maritime projects unviable and harm growth This area is reserved. Please register or subscribe for full access to continue reading. If
Despite this, it said a wealth tax was “the most widely discussed policy option” among those who believe inequality is too high. Zack Polanski, the Green Party leader, called last month for an annual levy of 1pc for those with assets worth more than £10m, rising to 2pc for those with more than £1bn. He
Have you changed the way you earn income because of Making Tax Digital? Email money@telegraph.co.uk* A tradesman earning less than £4,000 a year in rental income will be forced to report his tax five times a year under new HMRC rules. Landlords, businesses and the self-employed with a turnover of at least £50,000 must now