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The Government has been urged to address a 60% tax trap, with experts warning that frozen thresholds mean more than 2.1m people will lose some or all of their personal allowance in the 2026/27 tax year. Investment platform IG highlights that the frozen personal allowance creates a high marginal tax...
The £100,000 income cliff edge is a significant issue in the UK tax system, according to Michael Healy, UK & Ireland managing director at IG Group. He says the threshold discourages ambition and distorts career choices, particularly for high earners who are not yet rich. A cites an IG survey sh...
Government tax policies are projected to increase the UK's tax burden to a "historical high" of £1.4trn a year by 2030/31, according to the Office for Budget Responsibility. This represents 38.5% of GDP, surpassing previous forecasts. The freeze on income tax thresholds will pull millions into high...
The Office for Budget Responsibility (OBR) forecasts that up to 1m more pensioners will pay income tax due to frozen tax thresholds. By 2026/27, an additional 600,000 pensioners will be affected, rising to 1m by 2030/31. Chancellor Rachel Reeves has extended the freeze on the personal allowance unti...
Data released to the Contentious Tax Group show complaints against HMRC are at a five-year high, hitting 93,589 in 2024-25, up from 78,542 in 2020-21. Claer Barrett asks in the FT why filing taxes is becoming more difficult, noting that the Office of Tax Simplification was abolished in 2023....
HMRC has initiated over 14,000 inheritance tax investigations since 2022, according to a Freedom of Information request by NFU Mutual. The number of cases rose from 3,163 in 2022/2023 to 4,200 in 2024/2025, marking a 33% increase. Sean McCann, a chartered financial planner at the firm, noted that HM...
The Shadow Environment Secretary, Victoria Atkins, has warned that the new inheritance tax threshold for farmers could lead to more family farms facing tax burdens unless it was linked to inflation. She said: "If the threshold is frozen... that is a very real cost to people and to businesses." The t...
The legal challenge against proposed changes to agricultural property relief (APR) and business property relief (BPR) is set for a two-day hearing on 17-18 March. Farmers Thomas and George Martin, alongside Alvarez & Marsal, argue the Government failed to follow its 2011 tax consultation framewo...
Inheritance Tax (IHT) is increasingly affecting ordinary homeowners in Scotland, with £7.13bn collected from April 2025 to January 2026. This marks a £1.3bn rise from the previous year, impacting 31,500 estates, or 4.62% of all estates. The nil-rate band has been frozen since 2009, and if adjusted...
From April 2026, over 860,000 self-employed individuals and landlords earning above £50,000 will need to comply with Making Tax Digital (MTD). This initiative requires quarterly financial updates to HMRC, increasing the administrative burden on small business owners. Taryn Lee Johnston, owner of Th...
Sole traders and landlords are preparing for a £2.18bn compliance cost due to HMRC's Making Tax Digital (MTD) scheme. Starting this April, sole traders earning over £50,000 must file five tax returns annually, with the threshold dropping to £30,000 in 2027 and £20,000 in 2028. Research from busi...
Inheritance tax is increasingly burdening middle-class families, as rising property values push them into the tax net. John Kerwood, a former publican, faces a potential six-figure tax bill due to his estate's value exceeding £2m. He expressed frustration, stating: "Never in a million years did I t...
