One Million More State Pensioners Face Tax Bills After Rachel Reeves’ Threshold Freeze Wednesday, March 4, 2026 pensioners tax statepension income hmrc budget economy rachelreeves obr inflation A growing number of retirees are expected to pay income tax on their Department for Work and Pensions (DWP) state pension, following Labour Party Chancellor Rachel Reeves’ decision to freeze the income tax threshold. The … Read More
Rachel Reeves Announces New Mileage-Based Charge for Electric and Hybrid Vehicle Drivers Sunday, March 1, 2026 electric mileage tax hybrid vehicles charge motoring road government transport Drivers of electric and plug-in hybrid vehicles will face a new mileage-based charge starting in April 2028, Chancellor Rachel Reeves has confirmed. The new Electric Vehicle Excise Duty (eVED) will charge owners 3p per mile … Read More
HMRC Increases Personal Tax-Free Allowance by 10% for Married Couples Saturday, February 28, 2026 hmrc tax allowance marriage marriageallowance personalallowance incometax taxrelief couples taxcode HM Revenue & Customs (HMRC) is enhancing the Personal Tax-Free Allowance for taxpayers with the ‘M’ tax code, which signifies the Marriage Allowance. This allowance allows one partner to transfer 10% of their … Read More
Thousands of UK Families Face Loss of Key Inheritance Tax Allowance Friday, February 27, 2026 inheritance tax allowance pensions estates labour planning quilter financial wealth Thousands of UK families are poised to lose a critical inheritance tax allowance due to significant policy changes under a potential Labour government. By 2030-31, over 16,000 estates are projected to surpass the £2 million … Read More
HMRC Notifies Households Earning Over £50,000 About Upcoming Tax Filing Changes Sunday, February 22, 2026 hmrc tax mtd incometax selfassessment digitalfiling penalties finance taxchanges quarterly HM Revenue and Customs (HMRC) has started sending letters to households with incomes over £50,000 to inform them about significant upcoming changes to tax filing requirements. These changes relate to the introduction of … Read More
HMRC Introduces New £200 Penalties for Late Tax Returns Saturday, February 21, 2026 hmrc penalties tax makingtaxdigital incometax latesubmission selfassessment taxreturns taxfiling taxcompliance HMRC is implementing a new point-based penalty system for late submission and payment of income tax, coinciding with the rollout of Making Tax Digital (MTD) for income tax. Under the updated system, taxpayers who file their … Read More