Tag: income tax thresholds
Tax freeze sees 1m extra pensioners hit by income tax – as £20 a month alert issued
HMRC figures show 8.16 million pensioners paid income tax in 2023-24, over a million more than the previous year …
Martin Lewis advice if people missed tax return deadline as HMRC issues new update
Personal finance expert has told people what to do to avoid escalating fines …
Martin Lewis warning to anyone with savings over £20,000
Personal finance expert Martin Lewis has warned savers about when their savings interest could be taxed and explained the personal savings allowance thresholds …
Fury at Rachel Reeves’ ‘two-tier taxation raid’ on hard working Brits’ pensions
The Chancellor has announced that income tax thresholds will be frozen from 2027-28, potentially dragging some pensioners into paying tax. …
State pension fury as 77,000 over-66s caught in ‘punishing’ tax trap
More than double the amount of people were caught in the trap in 2024/25 compared to 2021/22. …
Chancellor Rachel Reeves gives update on income tax threshold £50,270 ahead of Budget
The lowest personal tax allowance has remained frozen at £12,570 since 2021 – a situation which has been branded as ‘ridiculous’ …
Rachel Reeves steps up tax war on poorest pensioners – shock bills land soon
Even more low income pensioners have been dragged into HMRC’s tax net, thanks to chancellor Rachel Reeves. …
Personal tax allowance raise to £20,000 pressure on Rachel Reeves before Spring Statement
A massive surge in support for a change to the ‘unfair’ frozen lower threshold is targeting the Chancellor …
Millions thrown into higher tax bands – how to check personal tax allowance
The number of higher-rate taxpayers has exceeded five million for the first time, with millions more people paying more tax due to frozen thresholds …
Labour to hit 2.5 million people with sneaky tax hike
Millions of people will be dragged into paying income tax as millions of others will be forced to pay the higher rate band. …
