HMRC Increases Tax-Free Personal Allowance by £1,260 for Eligible UK Couples Friday, December 5, 2025 hmrc tax allowance marriageallowance personalallowance taxsavings couples uktax taxcode incometax UK couples can enhance their tax-free income by utilizing the Marriage Allowance, which allows one partner to transfer a portion of their unused personal allowance to the other. Although the Personal Allowance has been steady … Read More
UK Households with Savings Accounts Could Receive HMRC Tax Letters Friday, December 5, 2025 hmrc savings tax personalsavingsallowance interest income selfassessment finance accountancy uk UK households holding savings accounts with balances as low as £3,500 may soon receive tax-related letters from HM Revenue and Customs (HMRC), according to personal finance expert Grant Hamill of Companion Accountancy. HMRC … Read More
Half a Million Savers Face Up to £1,080 Tax Bill After HMRC Changes Cash ISA Rules Friday, November 28, 2025 cashisa tax savings hmrc isa investments inflation finance taxbill savingsallowance Half a million savers may be hit with unexpected tax bills of up to £1,080 after HM Revenue & Customs (HMRC) changed the rules on Cash ISAs. The recent reduction of the annual Cash ISA allowance from £20,000 to £12,000, … Read More
State Pensioners to Avoid Tax Bills Despite Rising Income Thresholds Friday, November 28, 2025 statepension tax hmrc pensions incometax martinlewis rachelreeves triplelock taxreturn pensioners State pensioners are being reassured they will not face income tax bills as their state pension rises, despite some “edge cases” potentially falling within HMRC’s remit. The state pension is scheduled to … Read More
Martin Lewis 'Shocked' as Rachel Reeves Announces Key State Pension Change Thursday, November 27, 2025 pension tax statepension budget martinlewis rachelreeves finance retirement income taxreturn State pensioners relying solely on their state pension will not be required to pay tax, Martin Lewis has revealed following a conversation with Chancellor Rachel Reeves. Ahead of his budget explainer special on ITV this … Read More
State Pensioners Advised to Withdraw £100 Initially to Avoid Emergency Tax Thursday, November 27, 2025 pension tax hmrc retirement finance drawdown emergencytax withdrawal taxrefund planning State pensioners planning to start withdrawing their pensions are being advised to take a small initial withdrawal of around £100. This approach helps avoid being taxed at a higher emergency rate on their first pension … Read More