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The Latest Breaking News from HMRC

Rachel Reeves considers fresh tax raid on savers in bid to balance books

HMRC estimates that an extra 893,000 people will have to pay tax on savings by 2028-29

The Independent UK

Tax avoidance whistleblowers will earn share of HMRC proceeds, says Reeves

Chancellor promises ‘compensation’ for information on tax-dodgers, based on US model, in move to close £1bn ‘tax gap’

The Guardian - UK

Rachel Reeves hikes fines for paying tax returns late

About 1.1 million people missed the deadline to file their self-assessment tax return in 2024, according to HMRC.

The Independent UK

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Reeves to raise spectre of Liz Truss to persuade Labour MPs to accept cuts

Chancellor to tell party she is making steep cuts to avoid similar fallout to that which followed 2022 mini-budget

The Guardian - UK

Are our ‘lost boys’ really being failed?

While sexist attitudes do harm outcomes, the ‘reverse gender gap’ is being weaponised against women

The Guardian - UK

What could Labour abolish next after NHS England was scrapped?

There are more than 300 ‘quangos’ in the UK – and the largest is now set to be axed

The Independent UK

Generation divide over income tax laid bare after significant post-pandemic shift

Latest HMRC data also shows retired baby boomers paying greater amount in income tax than working people under 30

The Independent UK

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‘Saddened and embarrassed’ Frankie Dettori files for bankruptcy

Perhaps the most world’s famous jockey, Dettori has had an ongoing financial dispute with HMRC and has now filed for bankruptcy

The Independent UK

Frankie Dettori reveals he is filing for bankruptcy in shock statement

Frankie Dettori, the world’s most famous jockey, has announced he is filing for bankruptcy

The Guardian - UK

Number of taxpayers dragged into paying higher rate soars 15%, figures show

There were 5.1 million higher-rate taxpayers in 2022-23, according to the latest figures supplied by HMRC.

Evening Standard

Major tax change announced for side hustles affecting Vinted sellers, taxi drivers and dog walkers

Side hustle tax rules are being shaken up in a push for growth – here's how it will affect you

The Independent UK

State Pension at Risk as Rachel Reeves’ Tax Raid Targets Retirees in March

Rachel Reeves is in a tight spot ahead of her Spring Statement on 26 March, trying to fix the financial mess left by her disastrous autumn Budget.

The Fashion Central

Lorraine Kelly says she’s ‘really sad’ over lazy presenter claims

‘It’s really hurtful actually,’ TV presenter said after being mocked by social media parody account

The Independent UK

When does the new financial year start and what does it mean for businesses?

Increased labour costs are incoming but there’s more for SME owners and sole traders to be aware of

The Independent UK

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The National (Scotland)

Scottish Government appoints new top civil servant

Joe Griffin appointed top civil servant at the Scottish Government.

The Guardian - UK

‘You get sucked in’: crypto scam victims on how they lost up to £162,000

Retired NHS doctor and others conned into investing – only to sink larger sums in trying to get cash back

The National (Scotland)

Labour Government set to scrap North Sea windfall tax

THE Labour Government has launched a consultation on plans to scrap the windfall tax when it comes to an end in 2030.

International Business Times UK

Brits Have Less Than A Month To Do State Pension Boost Or Miss Out On Benefits

UK residents under 73 have until 5th April 2025, to boost their state pension by paying for missing National Insurance years from 2006-2018.

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The Independent UK

Martin Lewis ‘crashes government website’ as users rush to beat deadline for £50,000 state pension boost

There’s just a few weeks left to massively boost state pension

The National (Scotland)

HMRC investigates 14 oil and gas companies over unpaid tax

MORE than a dozen oil and gas companies have been investigated by HMRC for underpaying taxes on energy profits ...

The Independent UK

Royals and MPs given private HMRC phone line for fast track tax advice

VIPs are having queries dealt with by HMRC eight times faster than the general public, new figures reveal

The Guardian - UK

Why a wealth tax would not add up

Letter: Mark Husbands responds to Brian Cox’s call to tax the super-rich

TechRadar

Deepfake scam calls are costing British victims hundreds each time - here's how to stay safe

Criminals are using AI deepfake calls to scam people, here's what you need to know.

International Business Times UK

HMRC Announces New Advisory Fuel Rates: Impact On Petrol, Diesel, And Electric Car Owners

HMRC has announced new advisory fuel rates effective 1st March, with some petrol and diesel car rates increasing while others remain stable.

The Guardian - UK

Mind the gap: why filling the holes in your NI record could pay dividends

Voluntary contributions of about £800 to £900 for each missing year could boost your state pension by thousands

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