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 …
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 …
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 Personal …
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 …
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 …
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 …
HM Revenue and Customs (HMRC) has revamped its penalty system under the Making Tax Digital for Income Tax initiative, moving away from immediate £200 fines for missed deadlines. Instead, the new approach uses a points-based …
The Department for Work and Pensions (DWP) has confirmed the method for reclaiming Winter Fuel Payments from certain state pensioners. Under the new scheme, retirees with incomes exceeding £35,000 will have to repay part or …
Households across the UK are increasingly at risk of paying higher tax bills due to Rachel Reeves’ decision to keep income tax bands frozen for the foreseeable future. This move means that as wages rise, more individuals will …
HM Revenue & Customs (HMRC) has issued a stern warning: one million taxpayers could face fines totaling up to £900 for missing the Self Assessment tax return deadline. January 31, 2026, marked the crucial cut-off, and anyone …
Diesel drivers in the UK could soon be paying an eye-watering 86 pence per litre in taxes under new government tax policies alongside already high fuel duties. As the Labour Party government prepares to introduce the Electric …
HM Revenue and Customs (HMRC) has imposed automatic £100 fines on approximately one million UK households this week after they failed to meet the January 31 deadline for submitting their self-assessment tax returns. Each …
Individuals earning £50,270 or more are being urged to review their eligibility and claim pension tax relief from HMRC, as many higher-rate taxpayers failed to take advantage of this valuable perk last year. Currently, …
As the January 31 self-assessment tax return deadline approaches, West Mercia Police have issued a stern warning about an increase in scams targeting self-employed individuals. Fraudsters are impersonating HM Revenue and …
Thousands of UK companies are at risk of collapse as HM Revenue & Customs (HMRC) intensifies efforts to collect £27 billion in overdue taxes. A recent report from Begbies Traynor reveals that 68,000 companies are currently in …