Thousands of UK Families Face Loss of Key Inheritance Tax Allowance Friday, February 27, 2026 inheritance tax allowance pensions estates labour planning quilter financial wealth Thousands of UK families are poised to lose a critical inheritance tax allowance due to significant policy changes under a potential Labour government. By 2030-31, over 16,000 estates are projected to surpass the £2 million … Read More
HMRC Notifies Households Earning Over £50,000 About Upcoming Tax Filing Changes Sunday, February 22, 2026 hmrc tax mtd incometax selfassessment digitalfiling penalties finance taxchanges quarterly HM Revenue and Customs (HMRC) has started sending letters to households with incomes over £50,000 to inform them about significant upcoming changes to tax filing requirements. These changes relate to the introduction of … Read More
HMRC Introduces New £200 Penalties for Late Tax Returns Saturday, February 21, 2026 hmrc penalties tax makingtaxdigital incometax latesubmission selfassessment taxreturns taxfiling taxcompliance HMRC is implementing a new point-based penalty system for late submission and payment of income tax, coinciding with the rollout of Making Tax Digital (MTD) for income tax. Under the updated system, taxpayers who file their … Read More
HMRC Introduces Points-Based Penalty System, Scraps Immediate £200 Fines for UK Taxpayers Friday, February 20, 2026 hmrc tax penalties makingtaxdigital incometax selfassessment pointssystem fines compliance uk HM Revenue and Customs (HMRC) has revamped its penalty system under the Making Tax Digital for Income Tax initiative, moving away from immediate £200 fines for missed deadlines. Instead, the new approach uses a points-based … Read More
Rachel Reeves Warns Millions of State Pensioners Will Lose Up to £33 a Month Wednesday, February 18, 2026 pensions winterfuel payments dwp tax hmrc retirees meanstest income clawback The Department for Work and Pensions (DWP) has confirmed the method for reclaiming Winter Fuel Payments from certain state pensioners. Under the new scheme, retirees with incomes exceeding £35,000 will have to repay part or … Read More
Rachel Reeves Issues Warning on Tax Pressure for Earners Above £35,000 Saturday, February 14, 2026 tax fiscaldrag income labour chancellor earnings threshold payroll promotion rate Households across the UK are increasingly at risk of paying higher tax bills due to Rachel Reeves’ decision to keep income tax bands frozen for the foreseeable future. This move means that as wages rise, more individuals will … Read More