Income Tax
The latest news, updates and opinions on Income Tax from the expert team here at MoneyWeek
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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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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
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Tax return deadline: act now to get your paper tax return in by 31 October
We explain who needs to complete a self-assessment tax return, common mistakes to avoid - and what to do if you miss the deadline
By Ruth Emery Last updated
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More under-40s set for higher tax brackets
A whopping 20% of under-40s will find more of their earnings going to the taxman due to the freeze on income tax bands.
By Ruth Jackson-Kirby Published
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Jeremy Hunt: ‘income tax thresholds to remain frozen if Conservative Party wins general election’
News The Chancellor said income tax thresholds will be kept as they are until 2028. It could mean millions of workers will be dragged into higher tax bands.
By Henry Sandercock Published
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One in five taxpayers to pay higher rate of income tax by 2027
News Frozen income tax thresholds mean considerably more middle-earners will have to start paying higher-rate tax. We explain what you can do to avoid the fiscal drag.
By Ruth Emery Last updated
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Tax return deadline extended – but don't forget to file
Advice HMRC is being slightly more lenient about tax returns this year, but falling behind will still incur hefty fines.
By Ruth Jackson-Kirby Published
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How to deal with self-assessment tax returns after a very trying year
Advice The Covid-19 pandemic will complicate the self-assessment tax return process for 2019-20. What if you can’t pay? Ruth Jackson-Kirby has some advice.
By Ruth Jackson-Kirby Published
Advice