Income Tax
The latest news, updates and opinions on Income Tax from the expert team here at MoneyWeek
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'Rachel Reeves has run out of options'
Opinion The political and fiscal constraints on Rachel Reeves have combined to leave the chancellor at a disadvantaged position
By Helen Thomas Published
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Don’t miss 31 July ‘payment on account’ tax deadline
Many self-employed people have a second tax payment deadline. With an 8.25% interest charge on late payments, it’s important to pay your bill on time
By Ruth Emery Last updated
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HMRC raises £1.5 billion from special investigations into the wealthy in 2023/24 – how can you protect yourself?
The taxman more than doubled the amount it raised from investigations into wealthy individuals year-on-year. How can you make sure you’re not caught out?
By Daniel Hilton Published
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What is a marginal tax rate?
Video Your marginal tax rate is simply the tax rate you pay on each extra pound of income you earn. Here's how that works.
By MoneyWeek Last updated
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Full list of HMRC tax codes and what they mean
Tax codes can tell us vital information about how much we are paying HMRC in the current tax year. Here's how to check you've got the correct code
By Jessica Sheldon Last updated
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Millions are being hit by ‘significant stealth tax’ – will you have to pay more to HMRC?
A staggering 17.9 million people look set to start paying basic-rate income tax, while 12 million may be dragged into the higher-rate band, by 2027/28. We explain what fiscal drag is and how you can prepare
By Ruth Emery Last updated
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New tax year changes: how much will you have to pay in 2025/26?
The new tax year started on 6 April, 2025. We look at how taxes and allowances are changing and how they will affect you.
By Holly Thomas Last updated
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How income tax is calculated
Millions of taxpayers face paying more income tax due to frozen tax allowances. We explain how income tax is calculated.
By Holly Thomas Published
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Is it cheaper to be a sole trader?
It might be cheaper to be a sole trader due to changes to the tax system
By David Prosser Published