HMRC Introduces Making Tax Digital for Income Tax: New Rules for Earners Above £30,000 Friday, May 22, 2026 hmrc makingtaxdigital incometax selfemployment propertyincome taxfiling digitalrecords taxsoftware taxcompliance taxreturn HM Revenue & Customs (HMRC) has announced a phased rollout of its Making Tax Digital (MTD) for Income Tax initiative, set to affect self-employed individuals and landlords earning above certain thresholds. Starting April … Read More
HMRC Announces Crucial Increase in Mileage Allowance to 55p per Mile for Cars and Vans Friday, May 22, 2026 hmrc mileage allowance drivers business vehicles reimbursement tax revenue martinlewis HM Revenue and Customs (HMRC) has introduced a significant update to the mileage allowance for employees and self-employed individuals using their personal vehicles for work purposes. The mileage rate has been increased from … Read More
HMRC Issues Thousands in Incorrect Tax Bills on Savings, Including Tax-Free ISAs Thursday, May 21, 2026 hmrc tax isas savings errors finance taxation paye oversight taxbills Many savers are being hit with unjust tax bills running into thousands of pounds due to errors by HM Revenue & Customs (HMRC). Recent reports reveal that HMRC is mistakenly clawing back tax on savings interest that either … Read More
State Pensioners Over 75 Face Tax Bills as HMRC Excludes Them from Personal Allowance Rule Wednesday, May 20, 2026 pension hmrc tax statepension pensioners triplelock rachelreeves taxation ukpolicy finance From 2027 onwards, all pensioners aged over 75 will be excluded from a valuable HMRC personal tax-free allowance perk, exposing many to unexpected tax bills. Chancellor Rachel Reeves has confirmed that individuals relying … Read More
HMRC Reveals £1 Tax Threshold That Could Leave State Pensioners Facing Large Tax Bills Tuesday, May 19, 2026 hmrc pension tax statepension cliffedge budget retirement taxexemption triplelock finance HM Revenue & Customs (HMRC) has confirmed the existence of a £1 “cliff edge” rule that risks leaving some state pensioners exposed to significant tax bills. This development raises concerns about potential … Read More
IMF Urges Rachel Reeves to Reconsider Triple Lock Pension Policy Tuesday, May 19, 2026 imf reeves pensions triplelock fiscalpolicy publicdebt taxation ukeconomy statepension hmrc The International Monetary Fund (IMF) has advised Labour Party Chancellor Rachel Reeves to abandon the current triple lock pension policy and formulate contingency tax plans aimed at reducing public debt relative to GDP. The … Read More