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
Child Benefit Alert for Parents Approaching £60,000 Income Threshold Sunday, May 17, 2026 childbenefit taxthreshold incometax parents earnings repayment nationalinsurance statepension adjustednetincome taxadvice Parents are being advised to carefully consider the impact of Child Benefit thresholds, especially if they receive a promotion or salary increase. From the 2024-2025 tax year, the income threshold for Child Benefit repayments … Read More
HMRC Set to Collect £700 From 29 Million UK Households Due to Frozen Tax Thresholds Friday, May 1, 2026 hmrc tax personalallowance fiscaldrag inflation incometax taxthresholds pensions ukfinance taxincrease HM Revenue & Customs (HMRC) is poised to collect an additional £700 from millions of UK households, all because tax thresholds have been frozen since April 6, 2021. The personal allowance — the amount of income you can … Read More
HMRC Sends ‘Shocking’ Tax Letters to Over One Million Additional State Pensioners Friday, May 1, 2026 hmrc pensions tax statepension thresholdfreeze incometax retirement taxplanning costofliving pensioners HM Revenue and Customs (HMRC) is set to send tax bills to over one million additional state pensioners this year, a consequence of prolonged tax threshold freezes. Data for the 2023-24 tax year reveals more than 8.16 million … Read More
HMRC Alters Tax Bands, Impacting One Million State Pensioners Friday, May 1, 2026 hmrc tax statepensioners pensions incometax taxbrackets triplelock personalallowances savings chancellor HM Revenue and Customs (HMRC) has adjusted the tax brackets, affecting one million state pensioners. Under the guidance of Labour Party Chancellor Rachel Reeves, this change has resulted in more than 300,000 additional … Read More
HMRC Imposes Effective 71% Tax Rate on Thousands of UK Households Tuesday, April 14, 2026 hmrc taxtrap incometax personalallowance fiscaldrag costofliving inflation henrys rathbones financialplanning HMRC is imposing an effective tax rate of up to 71% on some UK households, sparking concerns among personal finance experts about the growing financial strain on middle-income earners. The so-called £100,000 tax trap is … Read More