Tag: Income tax news
Millions caught in HMRC tax squeeze as 480,000 more workers dragged into top rates
Britain is expected to have 40.8 million income taxpayers this year …
Tax threshold freeze lands 1.3m with surprise demands from HMRC
Simple assessments are issued when tax cannot be collected automatically through PAYE …
Brits earning over £50,000 issued 4-month tax change warning
The latest phase of the Government’s scheme is set to go live in April. …
Millions earning under £35,000 face a £200 stealth tax hit as frozen tax thresholds bite
The tax threshold freeze keeps the personal allowance at £12,570 and the Resolution Foundation has issued new analysis …
Number of top-rate taxpayers hits record 1 million due to frozen bands
The 45% top rate of tax was introduced by the Tories in 2013 with a threshold of £150,000 …
Top 45% tax rate now hitting Middle Britain
HMRC figures show that 1.2million people will pay the additional rate this year …
New calls for income tax rate cut for workers earning under £50,000
A new online petition is calling for the basic rate of tax to be cut from 20% to 10% for all workers earning less than £50,000 per year …
More than 1m pensioners hit by highest tax rates in ‘triple whammy’
The freeze on tax thresholds was first introduced by the Conservative government in 2021 and extended through to 2028 before the last General Election …
New tax rules to hit four million people this year – how to check if it’s you
‘Fiscal drag’ caused by freezing personal tax allowances have dragged millions extra into paying more …
Plan to raise personal allowance from £12,500 to £20,000 hits major milestone
Campaigners say the move would allow more pensioners a “decent income” as more are dragged into tax brackets. …
