Income Tax
The latest news, updates and opinions on Income Tax from the expert team here at MoneyWeek
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More than 200,000 landlords and sole traders ‘face up to 10%’ cost hike as Making Tax Digital loomsAround 212,500 UK businesses face potentially ‘tens of millions’ in extra accountancy costs under the government’s incoming Making Tax Digital initiative, experts have warned
By Laura Miller Published
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Average income tax by area: The parts of the UK paying the most tax mappedThe UK’s total income tax bill was £240.7 billion 2022/23, but the tax burden is not spread equally around the country. We look at the towns and boroughs that have the highest average income tax bill.
By Laura Miller Published
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Self-assessment taxpayers overpaid £8.9 billion last year – could you be owed money?Millions of taxpayers are paying too much income tax when they file their self-assessment returns, new figures show. Here’s how to avoid overpaying, and the ways to reclaim what you’re owed.
By Laura Miller Published
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Taxpayers urged to fight automated HMRC penalties as 20,000 win on appealHMRC loses more than 60% of cases when taxpayers appeal an automated penalty it has imposed, new figures show.
By Laura Miller Published
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Rachel Reeves's Autumn Budget: What it means for the UKOpinion A directionless and floundering government has ducked the hard choices at the Autumn Budget, says Simon Wilson
By Simon Wilson Published
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Rachel Reeves confirms ‘workaround’ for pensioners facing tax bill on state pensionAs the full new state pension looks set to breach the tax-free personal allowance within years, the government has said anyone on just a state pension won’t have to pay income tax on the payment until the end of this parliament
By Sam Walker Published
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How the ‘Reeves Freeze’ on income tax thresholds could cost you up to £1,300The income tax threshold freeze will rake in an extra £12 billion by 2031, according to the Office for Budget Responsibility
By Sam Walker Published
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Hundreds of thousands more taxpayers to be pulled into £100k ‘tax trap’ by 2029Frozen thresholds are pushing more workers into paying income tax at an effective 60% rate. We look at why, as well as how you can avoid being caught in the trap.
By Sam Walker Published
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Starmer and Reeves ‘rip up plans’ to raise income tax in the BudgetThe chancellor Rachel Reeves is reportedly looking at other ways to fill the government’s estimated £30 billion fiscal hole
By Sam Walker Published
