HMRC Admits £5 Tax Overcharge on 8.7 Million State Pensioners Monday, June 15, 2026 hmrc pensions tax overcharge statepension pensioners calculationerror government taxation reimbursement HM Revenue and Customs (HMRC) has confirmed it overcharged nearly 8.7 million state pensioners due to a calculation error, resulting in an estimated £43.5 million in excess tax collected last year. The error inflated the … Read More
HMRC Targets 144,000 Savers with £5,000+ Tax Demands on Savings Interest Monday, June 15, 2026 hmrc tax savings interest cashisa treasury investment finance taxation savers HM Revenue & Customs (HMRC) is intensifying its efforts to collect tax from savers, sending £5,000-plus tax demand letters to 144,000 individuals. According to data obtained through a Freedom of Information request, the … Read More
Rachel Reeves’ Salary Sacrifice Rule Change Could Cause Greater Harm Than Expected Saturday, June 13, 2026 pensions salarysacrifice nics tax reform rachelreeves retirement savings government labour Rachel Reeves, Labour Party Chancellor, faces criticism over proposed changes to salary sacrifice pension contributions, with warnings that the impact may be far more severe than initially acknowledged. The reforms set to … Read More
£5,000 HMRC Charge to Impact 144,000 Savers by 2026 Saturday, June 13, 2026 hmrc tax savings interest paragon savers finance isa accounts balance A recent Freedom of Information request by Paragon Bank reveals a sharp rise in the number of savers expected to pay £5,000 or more in income tax on their savings interest. HMRC forecasts that 144,000 people will owe at least … Read More
New DWP Rules from July 1 Could Force PIP Claimants to Stay Home Thursday, June 11, 2026 motability pip dwp disability leases mileage tax independence accessibility wheelchair Starting July 1, significant changes to the Motability Scheme—used by many Personal Independence Payment (PIP) claimants—are set to take effect, potentially restricting independence for disabled individuals. New VAT and … Read More
State Pensioners to Benefit from New HMRC Tax-Free Allowance Threshold in 2027 Wednesday, June 10, 2026 pension tax hmrc allowance statepension triplelock income dwp pensioners policy Starting in 2027, state pensioners who depend exclusively on the Department for Work and Pensions (DWP) state pension will be shielded from paying income tax, thanks to a new policy introduced by Labour Party Chancellor … Read More