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HMRC key tax allowance cut update as income surges
HMRC key tax allowance cut update as income surges The Government has enjoyed a huge windfall from Capital Gains Tax The Treasury has reaped a substantial windfall from Capital Gains Tax following a raft of tax changes that have ensnared more investors. Fresh HMRC data reveals Capital Gains Tax (CGT) receipts reached nearly £24.3 billion in the 2025/26 tax year, a remarkable 77% rise on the previous year.
State pension alert as claimants 'edging closer' to HMRC tax liability
State pension alert as claimants 'edging closer' to HMRC tax liability The qualifying rules for the state pension are currently changing A major tax reform is set to be implemented shortly, impacting state pensioners. The key policy change will change the tax burden for certain pensioners. Labour announced in the Autumn Budget 2025 that it would change the tax allowance rules so that those receiving only the state pension without additional increments would be exempt from income tax.
ITR filing FY 2025-26: Top 10 points to check before submitting tax return
It is that time of the year again, when focus shifts to Income Tax Return(‘ITR’) filing. The tax filing deadline for the Financial Year (‘FY’) 2025–26 is approaching and taxpayers have commenced to gather documents like Form No. 16, other tax deduction statements, investment proofs, bank interest statements, capital gains reports, and other necessary financial information for preparing and filing their tax returns. Besides compliance, ITR also serves as a vital document frequently reviewed...
Could a 'mansion tax' help the housing crisis?
A 'mansion tax' would likely see affluent Bulimba homeowners pay up, but some of them support it Sat 6 Jun 2026 at 7:00am The concept of a mansion tax — premium property owners paying additional tax — has been rolled out overseas to varying degrees of success. Now, amid some of the most drastic proposed changes to Australia's tax system in decades and years of skyrocketing home values, one leading expert says it is an idea "worth considering".
ITR filing: What documents are required to file your income tax return? Quick checklist
ITR filing AY 2026-27: Before you open the tax filing portal to file your income tax return, it’s important to keep all the necessary documents handy. Having all the requisite documents is important to cross-check auto filled data on the income tax filing website to avoid any errors and ensure that all aspects of your income, investments, deductions and exemptions are taken care of. Missing a single document can lead to reporting errors, which in turn can result in income tax notices or even...
DVLA issues car tax warning as exempt drivers risk fine of up to £1,000
DVLA issues car tax warning as exempt drivers risk fine of up to £1,000 Even if they are exempt from paying, you must still register your car Drivers have been put on notice that they must carry out one vital task or risk being hit with a steep fine. Failing to pay your vehicle tax could land you with a penalty of up to £1,000. This charge, also known as vehicle tax or road tax, is a fee required for driving a motor vehicle on Britain's public roads.
'Strategies' to beat inheritance tax and exact time to act
'Strategies' to beat inheritance tax and exact time to act People who start planning at 50 could pass on thousands more Families could be losing thousands in ‘preventable’ Inheritance Tax costs according to money experts after a new report found that delay one single decision by a few years could have a much higher cost than people expect. With unused pensions due to be included in Inheritance Tax calculations from next year, millions of families who never expected to pay inheritance tax...
Disabled households could cut council tax even if they don’t get benefits
Disabled households could cut council tax even if they don’t get benefits Households could go down an entire council tax band or drop their bill by 17% Households with disabled members could get hundreds wiped off their Council Tax bill even if they don’t claim any disability benefits. Instead, your property needs to meet some physical criteria in order for you to qualify for the discount. This is the Disabled Band Reduction Scheme, and households that qualify can have their tax bill dropped...
Ohio hits pause on datacenter tax breaks draining its coffers
The US state of Ohio has suspended tax breaks for datacenters, amid claims that the policy cost the state more than $1.5 billion in revenue during in 2025 alone. Ohio's Republican Governor Mike DeWine declared a pause in the state's server farm subsidy, directing its Tax Credit Authority to stop considering new datacenter sales tax exemption requests while officials review the industry’s costs and impacts. According to the Associated Press, the amount of money involved in Ohio’s tax break...
Amazon boss refuses AGAIN to come clean about online giant's UK tax bill
Amazon boss refuses AGAIN to come clean about online giant's UK tax bill The head of online giant Amazon in the UK claims revealing full tax bill could be 'taken out of context' as questions remain over how much it pays Amazon's boss in the UK has defended the online giant's refusal to reveal how much corporation tax it pays. The company issued an update last week in which boasted about paying more than £1.3billion in "direct" taxes in the UK, up from more than £1billion in 2024. However,...