Income Tax

The Chancellor Jeremy Hunt has today announced a range of new tax, benefits and savings measures in his Spring Budget. MoneySavingExpert.com founder Martin Lewis has shared his instant reaction and explained what the changes mean for you, and we've added more detail on them below.

If you sell goods online on sites such as eBay, Etsy or Vinted, rent out your home on Airbnb, or earn extra income from providing services via platforms including Deliveroo or Uber, then these firms will soon start passing on information about you to HM Revenue & Customs (HMRC). This means it's vital to check if you need to declare your income through self-assessment and possibly pay tax on it.

A shake-up to the rate of income tax people in Scotland pay has been confirmed in the Scottish Budget. From 6 April 2024, the threshold at which earners start paying certain rates will rise for some tax bands, while a new "advanced" rate tax band will be introduced. The "top" tax rate will also increase.

If you're married or in a civil partnership, have had a PPI payout, wear a uniform to work or pay any income tax, you could be due £100s or even £1,000s in tax back – but you'll need to check urgently, as the crucial 5 April tax year deadline is approaching. That was the key message from MoneySavingExpert founder Martin Lewis in the latest episode of ITV's The Martin Lewis Money Show Live.

Higher earners in Scotland will be hit with income tax rises from April next year, while most Scottish social security benefits will rise by 10.1% in line with inflation, deputy first minister John Swinney has announced. The changes come as part of today's Scottish budget – we round up what the new measures mean for you below.

If you're submitting a paper version of the self-assessment tax return, the deadline to file is just days away, on 31 October. And if the tax office receives it later than Monday you will liable for a £100 fine. 

New Chancellor Jeremy Hunt has reversed a host of tax reforms and scaled back energy help previously announced in September's mini-budget in an effort to reassure markets and ease financial turmoil that has triggered a spike in mortgage rates. Here's what the shake-up means for you.

The 45% top rate of income tax will NOT be scrapped from April 2023, Chancellor Kwasi Kwarteng has announced today. The change means those earning above £150,000 will continue to pay a higher marginal rate of tax, as they do now.

Chancellor Kwasi Kwarteng has announced big tax cuts for individuals and businesses, including a major shake-up to income tax and a permanent stamp duty cut. The changes come as part of today's mini-budget – we round up the new measures and what they mean for you below.

Some 1.3 million people are expected to start paying income tax and a million more will become higher-rate taxpayers by 2026 after Chancellor Rishi Sunak announced income tax thresholds are to be frozen after a rise this April. The Government's also freezing the pensions lifetime allowance and the thresholds for capital gains tax and inheritance tax.