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The Latest Breaking News from Income Tax

How Are I Bonds Taxed? 8 Common Situations to Know for 2026

Series I U.S. savings bonds are a popular investment, but the federal income tax consequences are anything but straightforward.

Kiplinger

How the standoff between Rachel Reeves and the OBR unfolded

Treasury’s independent economic forecaster says outlook for economy rosier than chancellor led everyone to believe

The Guardian - UK

New York’s wealthy warn of a tax exodus after Mamdani’s win – but the data says otherwise

New York’s mayor-elect, Zohran Mamdani, campaigned on a promise to raise the city’s income tax on its richest residents from 3.9% to 5.9%. Combined with the state income tax, which is 10.9% for the top bracket, the increase would cement the city’s position as having the highest taxes on top…

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

Did Rachel Reeves lie to justify her £26billion Budget tax raid?

The Chancellor is facing calls to resign over misleading the public and Cabinet minister over the state of Britain’s finances

Evening Standard

No 10 denies Reeves 'lied to public about £21bn black hole' before budget

Conservative leader Kemi Badenoch claimed the Chancellor ‘lied to the public’ and was ‘bribing Labour MPs to save her own skin’

Evening Standard

No 10 denies Reeves misled over black hole as OBR letter challenges warnings

The Chancellor was told in October by the Budget watchdog that her spending plans would no longer incur a black hole.

The Independent UK

No 10 denies Reeves misled public over the UK's finances ahead of Budget

Conservative leader Kemi Badenoch claimed the Chancellor had ‘lied to the public’ and should be sacked

Evening Standard

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OBR challenges claims Reeves dropped income tax rise due to rosier forecasts

Official forecaster’s chair says chancellor knew about revised predictions well before her budget change of heart

The Guardian - UK

Income taxes could be eliminated soon due to tariffs, Trump says

The government's individual income tax revenue last fiscal year was nearly 14 times its tariff revenue.

Axios

Reeves vows state pensioners won’t have to pay tax despite alarm over Budget changes

Chancellor says Treasury won’t go after ‘tiny amounts of money’ and pledges they won’t pay any tax in this parliament

The Independent UK

The Budget’s stealth tax phenomenon and how much it will cost you

Even when taxes don’t rise, your payments might as a result of what’s called fiscal drag

The Independent UK

Four claims from the 2025 Budget debate fact checked

Full Fact takes a look at claims about tax thresholds, NHS appointments, unemployment and house building.

Evening Standard

Use cash freed up by end of two-child cap to cut income tax, Swinney urged

But the Scottish First Minster said he will instead use the £155 million to further act to reduce child poverty in Scotland.

Evening Standard

Starmer says Budget ‘asked everybody to contribute’ to protect public services

The Prime Minister rejected claims the scrapping of the two-child cap had been announced to shore up his own position.

Evening Standard

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The Independent UK

Did Rachel Reeves break her manifesto pledge on tax? Her own words suggest she did

BUDGET ANALYSIS: The chancellor is using semantics to argue she has not broken her pledge – which will be of little comfort to those whose income tax bill will soar, writes David Maddox

Evening Standard

Martin Lewis: Income tax freeze 'breaks spirit of Labour manifesto and 1p rise would be less damaging'

In her Budget on Wednesday, Rachel Reeves announced £26 billion of tax rises

The Independent UK

Reeves’ stealth tax hits low earners harder than ‘sensible’ income tax change, says top think tank

People earning less than £35,000 a year will pay more than if chancellor had raised basic rate by 1p, says Resolution Foundation

The Guardian - UK

Income tax threshold freeze will hit poorer households harder, experts say

Move will have greater impact on living standards of taxpayers in bottom half of income scale, thinktanks say

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Evening Standard

Revealed: £600-a-year average income tax rise for millions with London hardest hit in Reeves Budget

The Chancellor was facing criticism that she was hitting workers with tax rises to pay for more benefits

Evening Standard

Rachel Reeves insists tax on working people kept at ‘absolute minimum’ at Budget

The Chancellor struck a defiant tone, saying: ‘You’re not going to write my obituary,’ a day after her statement.

The Guardian - UK

Starmer says budget did not break manifesto tax pledge – as it happened

PM says: ‘We kept to our manifesto in terms of what we’ve promised. But I accept the challenge that we’ve asked everybody to contribute’

Evening Standard

'Chilling effect' of Budget briefings cost London jobs, say bosses as Reeves defends her tax and spend plans

They also warned the Chancellor’s measures would have ‘little to no impact on growth in the round’

The Guardian - UK

Has Rachel Reeves broken her manifesto promises with the budget?

Reeves told MPs she had stuck to her pledges. Responding, Kemi Badenoch said the opposite. Who is right?

The Guardian - UK

Budget 2025: what it means for you

How Reeves’s measures on tax, NI and benefits affect single people, couples, families and those receiving pensions in England, Wales and Northern Ireland

The Independent UK

Millions more dragged into paying higher income tax in Reeves’s £26bn Budget squeeze

Chancellor admits ‘I am asking ordinary people to pay a little more’ as she unveils dozens of tax rises, but finally scraps the much-criticised two-child benefit cap

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