HMRC Chief Links Poor Customer Service to Rising Pensioner Tax Queries
In a recent session with the Public Accounts Committee, Sir Jim Harra, the chief executive of HM Revenue and Customs (HMRC), addressed the agency's declining customer service levels.
Labour Urged to Offer Tax Breaks to Boost Electric Vehicle Sales Amid Growing Industry Concerns
The UK automotive industry is urging the Labour government to introduce tax incentives to boost electric vehicle (EV) adoption. Industry leaders, including Ford UK’s Lisa Brankin, have warned that without…
Scottish Government Urged to Align Income Tax Rates to Retain Talent
The Scottish National Party (SNP) is under pressure from the financial sector to reconsider its recent income tax hikes, with concerns over their impact on investment and business growth.
Pension Inheritance Tax Changes Could Cost Households Up to 64% – Are You Affected?
UK households face a potential financial hit as new inheritance tax reforms target unused pension pots from 2027. Experts warn that the new tax rules could drastically affect the value…
UK Drivers Warned as Rachel Reeves Announces New Car Tax Changes
UK drivers are facing a major overhaul in car tax rates starting in April 2025. Announced by Chancellor Rachel Reeves, the reforms will sharply increase taxes on high-emission vehicles while…
UK Savers Move Money Offshore to Avoid Looming Tax Increases
UK savers are increasingly turning to offshore bonds as they prepare for significant tax reforms that could dramatically raise capital gains tax (CGT) rates. These bonds, which offer tax deferral…
Tax Hikes Push Scottish Universities to Demand Millions—What’s at Stake?
Scottish universities are facing increasing financial pressures due to rising UK taxes and falling numbers of international students. Institutions are warning of possible job cuts and funding disparities that could…
Homeowners Brace for Bigger Bills Under Inheritance Tax Changes Affecting Estates
Inheritance tax (IHT) reforms announced in the Budget are set to reshape the financial landscape for thousands of UK homeowners and pensioners. By freezing tax-free thresholds and including pensions in…
New Vehicle Category to Face Dramatic Tax Changes from April 2025
From April 2025, a major change to the UK tax system will require a group of previously exempt vehicle owners to contribute. This change is aimed at a growing category…
Tax Hikes in UK Budget Signal Decline in Consumer Confidence and Wage Growth
The UK Budget's tax hikes, particularly the rise in employer national insurance contributions, are set to hit consumer confidence and wage growth in 2025, warn analysts. Reports from Goldman Sachs…
Government Scheme Offers Up to £400 Annually for Millions in Four Targeted Council Tax Bands
Millions of households in high Council Tax bands could save up to £400 a year on their energy bills thanks to the government's new insulation scheme. Designed to tackle the…
Households in England and Wales Face £217 Surge with New Council Tax Bands
Households in England and Wales are bracing for a financial shock as council tax bands undergo significant changes. With average bills rising by £109—and some soaring by £217—millions could face…
Council Tax Relief: DWP Benefits That Could Make Your Bill Disappear Completely
The DWP benefits can slash or even erase your council tax bill. From single discounts to full exemptions, find out if you’re eligible for significant savings that many people miss…
Savers at Risk of Facing ‘Triple Tax’ on Pensions, Raising Concerns About Future Retirement Savings
Savers could face a "triple tax" on their pensions due to ongoing government changes, raising concerns among retirees and financial experts. The removal of the lifetime allowance limit in April…
HMRC Alters Late Payment Charges and Refund Rates for Taxpayers
His Majesty's Revenue and Customs (HMRC) reviewed late tax payment and refund costs in response to a Bank of England comment.
Inheritance Tax is Set to Rise to 91%, as UK Households are Urged to Rethink Their Pension Plans
Households are advised to consider their pension plans in detail before the 2027 Inheritance Tax adjustments come into force.
Labour’s Hidden Tax Plan is Set to Burden Households with An Additional £16,000
Rachel Reeves' proposed freeze on the tax threshold could cost families more than £16,500, with analysis revealing hidden financial burdens.
Surge in Tax-Free Pension Withdrawals as Autumn Budget Fears Mount
There has been a notable rise in tax-free withdrawals from pension pots, prompting investment firms to call for stability and clarity in pension tax policies.
UK Firms Warn National Insurance Hike Could Jeopardise Jobs and Wage Growth
UK employers are concerned that higher national insurance could make it harder to hire and raise wages, affecting pubs and restaurants.
HMRC Crackdown on Gifting Rules: Families May Face Higher Inheritance Tax
Labour’s inheritance tax reforms could tighten gifting rules, leaving families facing higher taxes on gifts made years before death.
Rachel Reeves Claimed £1,225 in Taxpayer Money for Accountancy Fees
Chancellor Rachel Reeves faces criticism for claiming £1,225 in expenses for tax return help, reigniting debate over MPs' taxpayer-funded privileges.
Electric Vehicles Face New Tax Rules in 2025 — Who Will Pay and When?
Major tax changes for electric vehicles in the UK will begin on 1 April 2025 and will affect both newly registered and older vehicles.
HMRC Warns Thousands of Households About £100 Fine Ahead of October 31 Deadline
HMRC has warned thousands of people about an upcoming deadline, which requires action within weeks to avoid a £100 fine.
£100,000 Lump Sum Cap Leaves Pensioners Facing Mortgage Crisis
Pensioners face uncertainty as the government considers cutting the tax-free withdrawal limit from £268,750 to £100,000.
UK Workers May Face £450 Loss in Upcoming Budget
Millions of UK workers could be £450 worse off if Labour raises National Insurance in the upcoming Budget, reversing a previous tax cut.
State Pensioners Alerted to £665 Tax Bill by HMRC
State pensioners are being warned by HMRC that they could be hit with a £665 tax bill, which includes those who have lost Winter Fuel Payments.
Half a Million Tax Credit Claimants at Risk of Losing Payments Due to Universal Credit Changes
Nearly half a million tax credit claimants are at risk of losing their benefits as the government transitions all legacy benefit recipients to Universal Credit.
HMRC Warns Millions of Households About 48-Hour Automatic Fine
People must inform HMRC by October 5 to avoid automatic fines. Missed deadlines lead to escalating penalties up to £900.
£16 Billion Tax Cut on Pension Contributions Could Shrink Retirement Savings
A potential £16 billion tax increase on pension contributions could significantly reduce pension savings. Sir Steve Webb suggested this could occur if employers are required to pay National Insurance on…
Pension Experts Warn of Dire Consequences from Potential Raid on Tax-Free Cash
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…
Drivers Aged 50 or Over Could Face £1,061 Charge Under New Pay-Per-Mile Car Tax Bands
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.
New Pay-Per-Mile Car Tax Could Cost Drivers £1,080 for ‘Average’ Mileage
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.
New Pay-Per-Mile Car Tax Bands to Begin at £190 for Families Starting October
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…
HMRC Issues Warning to Those with £7,500 Sitting in Savings Accounts
People with £7,500 in their savings accounts have been warned about an unexpected HMRC tax. A personal finance expert has revealed key errors and hazards in the savings account procedure…
New Pay-Per-Mile Tax Likely to Push One in Three Drivers to Sell Their Vehicles
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 Charges Set to Hit Motorists with Massive Costs
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 Could Receive 100% Reduction in Council Tax, Bringing Bills Down to £0
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…
HMRC Urges Investors to Report Crypto Gains Amid Tax Crackdown
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…
Parents Could Receive £5,000 Parental Tax Allowance Under New HMRC Proposal
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…
Are You Gifting Money to Your Children? Beware of This Hidden Tax Trap
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…
Final Call: Tax Experts Urge Action Before HMRC Self-Assessment Deadline Today, July 31!
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 Sends Letters Warning 560,000 Taxpayers They May Owe £3,000 Each
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…
Millions of UK Pensioners to Be Hit by New “Retirement Tax” Under Labour’s Frozen Threshold
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 Benefit from Tax Savings Through ‘Backdate’ Loophole
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…
UK Labour’s Election Victory: What It Means for Pensions, Taxes, and More
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…
Failure to Report Changes Could Cost Tax Credit Claimants Up to £3,000, Warns HMRC
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…
Workers Urged to Check if they May Qualify for an HMRC Tax Refund – Here’s How to Claim
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…
Married Couples Could Miss Out on Lump Sum from Marriage Tax Allowance
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…
Pensioners Warned by HMRC of Impact from Surge in Highest-Rate Taxpayers
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.…
HMRC Issues Urgent One-Month Tax Warning Impacting Up to 4.25 Million People
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.…
