2 Million Hit by 62% 'Tax Trap' as HMRC Freezes Thresholds
New HMRC data shows a record two million workers will be caught in a 62% effective tax rate by 2027, prompting fears of an exodus of high earners from the UK. Read the full analysis.
Category : Search result: government fiscal policies
Shoe Zone profits plunge 67%, blames government
High street retailer Shoe Zone sees profits plummet by two-thirds to £3.3m, warning of further decline. The firm cites 'highly adverse' government fiscal policies and weak consumer confidence.
1.3 Million Tax Letters Sent as Personal Allowance Frozen
HMRC sent 1.3 million tax demands last year as the frozen £12,570 personal allowance drags more into the tax net. Discover the impact on pensioners and savers.
HMRC 'Trivial' Tax Letters Hit 300,000 Homes
HMRC issued a record 1.32 million 'simple assessment' tax demands last year, with 317,000 for £100 or less. Experts criticise the costly bureaucracy. Read the full analysis.
Walsall Council welcomes major three-year funding settlement
Walsall Council's spending power is set to rise by 28.5% over three years under a new government funding settlement. Leader Mike Bird welcomes the 'good news' but warns of ongoing challenges.
Tax Freeze to Cost UK Households £500 a Year by 2030
Analysis reveals UK workers on £50k will be £500 worse off annually by decade's end due to extended tax threshold freeze. Discover the full impact of fiscal drag.
Pensioners face £920 surprise tax demands from HMRC
HMRC is sending 'simple assessment' letters demanding an average of £920 in unpaid tax to over a million people, including pensioners. Experts warn the issue is set to worsen.
Treasury minister issues tax update for £25k-£50k earners
Treasury minister Dan Tomlinson responds to MP's query on tax rises for middle earners. The 'Reeves Freeze' extension will cost individuals up to £1,292 in extra tax. Read the full analysis.
Stealth taxes 'hammering' workers, says think tank
Analysis reveals workers face real-term income cuts due to frozen tax thresholds, while pensioners see gains. The Treasury defends its 'fair and necessary' budget decisions.
Middle earners up to £52k hit hardest by budget changes
Analysis reveals workers earning up to £52,000 will be worst affected by a 'triple whammy' of tax and policy changes from the Autumn Budget. Discover the key impacts.
Cognitive decline costs pensioners £30,000, warns IFS
New IFS research reveals cognitive decline erodes £30k of wealth for over-65s, urging urgent pension reforms and advance financial planning to protect savings.
UK households face 'double tax raid' on savings
Chancellor Rachel Reeves's Autumn Budget sparks a 'double tax raid' on UK savings via ISA reforms and frozen tax thresholds. Discover the impact on your money and what you can do.
State pensioners face new 'two-tier' income tax rule
Labour's new rule means pensioners with only state income won't pay tax from 2027, but critics warn of unfairness for those who saved. Discover the full impact.
Rachel Reeves: State Pensioners Spared Income Tax
Chancellor Rachel Reeves announces low-income pensioners reliant solely on the state pension will not pay income tax before 2027. Read the full details of the new rules.
Disposable income falls to lowest level since 2019
UK household disposable income has plummeted to its lowest point since 2019, driven by a £6bn tax surge. Experts warn fiscal drag is eroding wage gains. Read the full analysis.
HMRC to Spur Thousands to Part With Cash in Weeks
As the self-assessment deadline looms, HMRC reports record tax receipts exceeding £900bn. Experts warn of fiscal drag and rising unemployment impacting public finances. Read the full analysis.
Pensioners face tax hit as thresholds frozen under Labour
Chancellor Rachel Reeves's Budget reforms, with frozen income tax thresholds, are set to push retirees with modest savings into paying tax. Experts warn of fiscal drag and inheritance tax implications.
Council 'Paralysed' After Mass Resignations
Shirebrook Town Council left unable to function after 11 councillors quit. Bolsover District Council appoints temporary members to restore operations. Read the full story.
Inheritance Tax receipts hit £5.8bn, up £84m
UK inheritance tax receipts reach £5.8bn in eight months, driven by frozen thresholds. Experts warn the 'quiet' revenue raiser is forecast to hit £14.5bn by 2031. Read the full analysis.
Dudley Council's £75.9m funding sparks political debate
Dudley Council is set for a £75.9m three-year finance settlement from the Labour government. While Labour MPs hail a 'turning point', the borough's Conservative leader urges caution, saying 'the devil is in the detail'. Read the full story.
Birmingham Council gets major funding boost after bankruptcy
Birmingham City Council secures a massive £651.5m funding increase over five years as part of a new £78bn government settlement targeting deprived areas. Read the full story.
Reeves: State Pension Only Retirees Won't Pay Tax
Chancellor Rachel Reeves confirms low-income pensioners won't pay income tax from 2027. Get the full details on the tax perk and what it means for you.
Chancellor Spares Low-Income Pensioners from Tax
Chancellor Rachel Reeves confirms state pensioners with no other income will not pay income tax in this Parliament, addressing concerns over frozen tax bands. Read the full details.
State pension triple lock increase could backfire, experts warn
Labour's 4.1% state pension hike faces a fiscal threat from rising unemployment and a shrinking tax base. Experts warn the policy could backfire. Read the full analysis.
Reeves' stealth tax warning for earners over £40,000
Chancellor Rachel Reeves confirms frozen tax bands, dragging millions into higher rates. Discover how fiscal drag impacts your income and pension. Sign up for our money-saving newsletter.
State pensioners to keep tax perk, confirms Chancellor
Chancellor Rachel Reeves confirms state pensioners with no other income will not pay income tax. Key update on frozen tax bands and fiscal drag explained.
Birmingham Council commissioners extended until at least 2028
Government commissioners will oversee Birmingham City Council until at least 2028. The ongoing bins strike and equal pay liabilities are key challenges slowing the council's recovery.
OBR boss quits over Budget leak 'worst failure'
OBR chair Richard Hughes steps down, taking full responsibility for the technical failures that led to the pre-Budget leak of sensitive fiscal data. Read the full details of the damning report.
State Pension rise confirmed as tax-free for 2025/26
The government confirms the 4.8% State Pension increase will not be taxed next year, but frozen personal allowance continues to pull retirees into the tax net. Discover the full details.
Martin Lewis Warns of 'Biggest Tax Rising Measure'
Martin Lewis explains how the extended tax threshold freeze until 2031 will push millions into higher tax brackets. Discover what fiscal drag means for your wallet.
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