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The Latest Breaking News from Income Tax

Rachel Reeves to abandon plans to raise income tax rates in budget

Labour had laid the ground to break a manifesto pledge on taxes for working people but has now made a U-turn

The Guardian - UK

Stealth tax alert: Reeves Budget to make record 10m pay Income Tax higher rate if she freezes thresholds

A further two-year freeze on Income Tax thresholds would drag 790,000 more people into paying the 40% higher rate, according to the IFS

Evening Standard

Rachel Reeves to ditch plan to raise income tax in Budget

Chancellor set to abandon income tax hike plan amid fears move could anger voters

The Independent UK

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Another State Bans Capital Gains Taxes: Will More Follow in 2026?

A constitutional amendment blocking future taxes on realized and unrealized capital could raise interesting questions for other states.

Kiplinger

Six big changes to expect from Reeves’ Budget and how they’ll impact your finances

Pensions, the cash ISA and more could all be set for notable alterations

The Independent UK

Reeves torpedoes Labour's manifesto in huge Budget tax gamble which could put Farage in No10

Commentary: The Chancellor has been so clear that she is going to torch the party’s manifesto tax promise that a U-turn now would stun Westminster

Evening Standard

The Guardian view on Labour’s fiscal stance: it’s time to lay new foundations

Editorial: No chancellor has raised income tax since 1975, but voters may accept it if everyone contributes, the richest most of all, and the money pays for fairer, better services

The Guardian - UK

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Voters in Hamburg have rejected universal basic income. Many economists would agree with them

Universal basic income (UBI) has supporters across the political spectrum. The idea is that if every citizen received a payment from the state to cover their living costs, it this will allow them the freedom to live as they choose.

The Conversation

Emergency Tax Bill Ends $6,000 Senior Deduction and Tip, Overtime Tax Breaks in D.C.

Here’s how state tax conformity rules could immediately raise your income tax liability.

Kiplinger

Reeves suggests two-child benefit cap will fully go, saying children in big families should not be ‘penalised’ – as it happened

Chancellor interviewed on Radio 5 Live and says it’s unfair to penalise children in bigger families

The Guardian - UK

Reeves to hammer London and South East with 2.8m facing Budget blow from 2p income tax rise

The Chancellor has been hit by a Labour revolt over breaking the party’s manifesto by raising income tax

Evening Standard

Shona Robison may ‘potentially revisit’ Scottish taxes in response to UK Budget

The Finance Secretary said the Scottish Government had a ‘very limited’ set of levers to respond.

Evening Standard

How could Rachel Reeves increase income tax in her Budget – and what would it mean for you?

Chancellor reportedly tells watchdog she intends to increase personal tax in one of several ‘major measures’ planned for Budget at end of month

The Independent UK

How might Reeves increase income tax – and what does it mean for you?

The budget could involve a range of rises – here’s how they would stack up for different levels of income

The Guardian - UK

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The Independent UK

Just one in five voters approve of Reeves breaking manifesto tax pledge at Budget, new poll shows

Exclusive: The government must provide a positive vision for change if it wants to win the public’s backing for breaking promises on tax rises

The Guardian - UK

Breakfasts at No 10: buttering up Labour MPs to avoid a budget backlash

Downing Street has been preparing MPs for going back on its manifesto pledge and raising income tax

Evening Standard

Income tax: How much is it likely to raise for me?

Pensioners and the self-employed are expected to be the hardest hit in the expected plans.

Evening Standard

Rachel Reeves reveals she's planning to increase income tax at the Budget

The move would break one of Labour’s core manifesto promises in an attempt to close the black hole in public finances Reeves’ government inherited

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news in one place.

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The Independent UK

Rachel Reeves ‘plans to raise income tax’ in Budget

Chancellor reportedly looking to hike income tax but cut National Insurance in bid to place burden of tax rises on landlords and pensioners

Benzinga

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Kiplinger

10 Retirement Tax Plan Moves to Make Before December 31

Proactively reviewing your health coverage, RMDs and IRAs can lower retirement taxes in 2025 and 2026. Here’s how.

Kiplinger

Testing the Retirement Waters in Florida? A Partial Plunge May Negate Tax Breaks

Most folks know Florida is a tax-friendly state, but they might not know that part-time residents may not qualify, as our cautionary tale shows.

Evening Standard

UK economic growth set to slump next year if income tax goes up, warns City forecaster

Research firm Morningstar slashes its GDP growth prediction from 1.5% to just 0.5% in 2026

The Guardian - UK

Rachel Reeves is damned if she raises income tax in the budget – and damned if she doesn’t

The only way the chancellor can save herself is to lower living costs or make big improvements to public services. Farage waits in the wings if not, says Guardian columnist Martin Kettle

Evening Standard

Budget tax hikes should be coupled with major reform, Osborne says

Tory ex-chancellor George Osborne conceded large reforms to the tax system can be difficult politically as he pointed to his 2012 ‘pasty tax’ budget.

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