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The Latest Breaking News from Income Tax

Reeves: PM and I decided ‘as a team’ not to hike income tax

The Chancellor also said a leak revealing she had dropped plans for an income tax rise was ‘incredibly damaging’.

Evening Standard

10 State Income Tax Adjustments Retirees Need to Review

State governments are rolling out new income tax adjustments, and retirees are among the groups most affected. These changes range from updated thresholds to new...

Saving Advice

Ask the Editor, December 5: Capital Gains and Tax Planning

In this week's Ask the Editor Q&A, Joy Taylor answers questions on capital gains tax rates and end-of-year tax planning

Kiplinger

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US Tax Refunds to Rise $675 on Average Next Year; Nearly 50% of Americans Plan to Use Them For Bills

Enhanced tax breaks under US President Donald Trump's One Big Beautiful Bill Act will boost federal income tax refunds next year by several hundred dollars.

International Business Times UK

Donald Trump promises to eliminate the income tax for every single American, but there is a catch

This can't be a real idea.

We Got This Covered

Treasury launches inquiry into budget leaks with ‘full support’ of Rachel Reeves

It comes after major policies such as freeze on income tax thresholds were reported in chaotic build-up to budget

The Guardian - UK

Trump Says There May Be No 'Income Tax to Pay' as POTUS Boasts Tariff Numbers

US President Donald Trump claimed that because of the high tariff revenues, there may not be a need to pay federal income tax.

International Business Times UK

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The clock is ticking on a golden opportunity for real change in Australia

The May 2026 federal budget will mark one year since the Albanese government’s unexpected landslide win at the last election.

The Conversation

4 Moves Retirees Need To Make Now To Prepare for 2026 Tax Rules

Tax law changes every now and again, so it's good to keep abreast of the new updates that might affect your life. Even if you're retired, some recent changes to income tax brackets and tax deductions...

GOBankingRates

Takeaways: Hegseth doubles down on drug boat strikes during Cabinet meeting - Roll Call

Defense Secretary Hegseth vowed to put drug traffickers “at the bottom of the ocean” during a White House Cabinet meeting.

Roll Call

Starmer has little choice but to bind himself closer to his chancellor

Ditching Rachel Reeves would put spotlight back on real context for decision to drop idea of breaching manifesto

The Guardian - UK

How Are I Bonds Taxed? 8 Common Situations to Know

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

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Evening Standard

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’

The Independent UK

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.

Evening Standard

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

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The Guardian - UK

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

Axios

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.

The Independent UK

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

Evening Standard

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.

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