518 results for "tax"

British drivers will face higher car taxes from April 2025, including Vehicle Excise Duty for electric vehicles and added costs for luxury models.

Experts warn that reducing tax-free pension cash could force retirees into debt, downsizing, or delayed retirement. With the October 30 budget looming, many have already made hasty financial decisions amid…

The UK is considering a new 15p per mile pay-per-mile car tax that could significantly impact older drivers, particularly those aged 70 and over, who might pay around £249 annually.

Drivers planning long-distance trips may encounter higher expenses under the new pay-per-mile tax scheme, which is expected to significantly increase travel costs.

The new Labour Party government may introduce a pay-per-mile car tax, potentially replacing vehicle excise duty (VED), which could result in higher costs for families, who are expected to "pay...

Many petrol and diesel drivers could be forced to ditch their vehicles and switch to other modes of transport as new pay-per-mile tax changes are set to be introduced. New...

New vehicle tax changes scheduled for next spring have been heavily criticized and described as unfair by many drivers. New Vehicle Tax Set to Affect Electric Car Owners Starting in...

UK households may be able to reduce their council tax to £0 for the year. This warning was issued as an alarming 1.3 million families struggled to pay their Council...

UK investors are being reminded by HM Revenue & Customs (HMRC) to report and pay tax on crypto benefits they may have overlooked. HMRC Sends Warning Letters to Cryptocurrency Investors...

A conservative think tank has proposed a £5,000 Parental Allowance, urging the Department for Work and Pensions (DWP) and HMRC to consider it. Onwards has joined parenting platform Mumsnet to suggest offering a £5,000 tax...

Caution parents gifting their children money, as there could be an increase in inheritance tax bills, said professionals. Under present rules, individuals can make gifts of up to £3,000 per...

People who submit their taxes directly to HMRC through Self-Assessment are being urged to meet the deadline today, July 31. If they fail to do so, they could face a...

HMRC, the government's tax authority, is set to send an important tax letter to hundreds of thousands of UK residents this month urging them “not to ignore it”. UK Households...

The research shows that by 2026 million pensioners could suffer from so-called “retirement tax” on their state pension. Labour will hold the current tax threshold at £12,570 up to 2027-28....

UK pension holders and those with employer-contributed workplace pensions, as well as other private pension plans, have been notified of a smart tax-saving “backdate” strategy. Maximize Your Pension Tax Savings...

Sir Keir Starmer led Labour Party has swept to victory, had a clear majority to form the next government. Starmer speaking on the ability in the just accomplished electoral stated...

Individuals who have benefited from tax credits are being reminded to report any changes in their situation to HM Revenue and Customs (HMRC) before 31 July to avoid facing a...

If you are doing part-time work, it could be a good idea to review your tax situation to ensure you are not overpaying. During the summer, many people, especially students...

Beginning tomorrow, July 1,more than 90, 000 people currently claiming Employment and Support Allowance (ESA) and Child Tax Credits will be migrated to Universal Credit. Employment and Support Allowance (ESA)...

Married couples might be missing out on the marriage tax allowance due to difficulties in applying for it or simply being unaware they are eligible. It is estimated that two...

The number of people who pay the top rate of income tax in the UK, set at 45%, is expected to surpass 1 million for the first time this year....

Britons could get a lot of money back if they check whether the government owes them refunds. Many workers may have paid too much tax and could get a refund...

Nearly 4.5 individuals are being warned they could face a one-month deadline to submit their tax payments. Self-employed workers have only a few weeks to get their taxes in order....

Elderly people (Pensioners) in the UK are getting ready for a possible big tax hit if Labour wins the next vote. But even if the Conservatives stay in control, retired...

Council tax bills are expected to climb by £600 per year, delivering a cost-of-living shock to millions of households throughout the UK. Council Tax Warning: Funding Crisis Looms for Local...

Millions of UK households could face a council tax increase after July. The Labour Party's Wes Streeting has refused to rule out a council tax increase if it wins the...

The Labour Party has reversed its decision to bring back the Lifetime Allowance on pensions, a measure originally estimated to generate £800 million in tax revenue. This reversal led to...

Reform UK is expected to announce a bold economic strategy on Monday that includes raising income tax and inheritance tax thresholds. The party says these tax cuts can be financed...

A leading think tank is warning that ‘hidden in plain sight’ tax rises could cost British households £800 a year, regardless of who wins the election. Frozen Tax Thresholds Push...

Rishi Sunak asserted that under a Labour government, state pensioners would be taxed ‘for the first time in history’ during Tuesday night's televised election debate. Sunak made his remarks based...

Experts are warning taxpayers not to risk losing their hard-earned money to the "most unfair tax in Britain". The controversial levy  is no other than the inheritance tax (IHT), which is levied...

On Monday, UK Prime Minister Rishi Sunak announced a tax cut plan for millions of pensioners, thereby raising the importance of the elderly electorate in the forthcoming elections in July....

Owners of second homes and empty properties in England, Wales and Scotland could be required to pay at least twice the amount of the old council tax in order to...

The UK government has announced plans to give workers an extra £450 as the autumn approaches, in a bid to address what it sees as an unfair burden on people's...

A report by the UK's spending watchdog, the National Audit Office, has revealed that taxpayers have spent the equivalent of 800 years on hold with HM Revenue and Customs (HMRC)...

With a 4.9 percent rise from the year prior, the UK's green taxes revenue in 2023 was £52.5 billion, nearly returning to the pre-pandemic state. The rate of corporation tax...

The next government will be required to hit voters with post-election tax increases and delay net-zero investment unless it is willing to scrap Treasury guidelines for managing public finances, according...

Tourist tax is becoming increasingly popular within the travel business, as more popular holiday destinations either start to apply the tax or discuss the possibility of introducing it. With the...

Wealthy pension savers are being cautioned that a new “catch in the small print” of lifetime allowance legislation might put them at danger of paying excessively tax on pension withdrawals....

Experts issued a warning to individuals who are late in filing their UK tax returns to make the necessary corrections as soon as possible to avoid the higher penalties that...

The British citizens who are qualified for tax relief under HMRC's new travel rules have been identified. Andy Wood, a tax expert, outlines the difficulties of tax relief for travel expenses...

Following the passage of a key deadline, HMRC has begun issuing £10 daily fines to anyone who have yet to complete their self-assessment tax return. HMRC Imposes Daily Fines for...

Taxes and high interest rates are set to make the UK economy the slowest growing in the G7 next year, according to forecasts by the Organisation for Economic Co-operation and...

The UK Government has announced the Great British Insulation Scheme at a time when winters are getting colder and energy costs are soaring. This innovative initiative aims to ease the...

Amidst the renewal season for tax credits, HMRC has issued a crucial warning to 730,000 claimants. Those receiving Working Tax Credit and or Child Tax Credit will start receiving renewal...

The British population is currently grappling with a plethora of tax obligations, to an extent that event HMRC finds it hard to keep up. With allowances frozen or slashed, taxpayers...

The UK's famous seaside region of Cornwall is sparking talk of a possible 'tourist tax'. Backed by significant figures, the idea could open up new opportunities for travel in the...

Recent statistics suggest that many pensioners may have been overtaxed on their pension withdrawals. Claimants are being encouraged to check whether they are entitled to a tax refund from HM...

Over two million British households have been warned they may be missing out on council tax benefits worth more than £1,500 each year. Many People Could be Missing out on...

Following an incorrect amount of tax being charged on pension income, HMRC has refunded more than £42 million in pension tax overpayment refunds in the first quarter of 2024. HMRC...