Nationwide £100 bonus taxed as interest by HMRC
Nationwide Building Society confirms it must report customer details to HMRC over its £100 Fairer Share Payment, classified as interest for tax. Find out what it means for you.
Category : Search result: HMRC taxfree allowance
ISA Allowance to Fall to £12,000, Building Society Warns
Coventry Building Society urges savers to act as the ISA tax-free allowance is confirmed to fall from £20,000 to £12,000 in April 2027. Experts advise on protecting savings now.
2m Pensioners to Get HMRC Tax Letters
Over 1.3 million people received unexpected tax bills last year, with figures set to hit 2 million. Find out why pensioners are being targeted.
55% Tax Bills for Pension Rule Mistakes
UK households face 55% tax charges for trivial pension errors. Experts warn against unauthorised withdrawals and urge professional advice to avoid hefty penalties.
HMRC Rule Can Increase Tax-Free Allowance to £13,830
A legitimate HMRC rule allows married couples to transfer part of their Personal Allowance, potentially boosting one partner's tax-free limit to £13,830 and saving up to £1,258. Act before the April 5 deadline.
HMRC update on tax discrepancies for state pensioners
HMRC has issued guidance after a state pensioner raised concerns over tax 'discrepancies' on savings interest. Learn about your Personal Savings Allowance and how to resolve issues.
HMRC letters for savers with over £3,500
Nearly 900,000 UK savers may receive letters from HMRC to check tax on savings interest. Experts explain your obligations and what to do if contacted.
HMRC rejects £20k tax-free allowance call
HMRC has formally rejected a public petition to raise the Personal Tax-Free Allowance to £20,000, citing a £50 billion annual cost. The petition argues it would help with living costs.
Tax-Free Allowance Hits £16,320 with Rent a Room
UK households can now earn up to £7,500 tax-free from renting a spare room, potentially raising their Personal Allowance to £16,320. Learn the rules and how to benefit.
How Gift Aid Can Increase Your Tax-Free Personal Allowance
UK taxpayers can use Gift Aid donations to extend their basic rate tax band and restore their personal allowance, offering effective tax relief of up to 60%. Learn how to claim.
HMRC Tax-Free Allowance Hiked to £20,070 for Some
HMRC increases the tax-free personal allowance for some households to £20,070. Learn how the Rent a Room scheme lets you earn £7,500 tax-free from lodgers.
Tax-Free Allowance to Hit £27,070 with Three Hacks
HMRC is set to increase your effective Personal Allowance to £27,070. Discover three legitimate 'hacks' including Rent a Room and Tax-Free Childcare that could save you thousands.
UK ISA rule change brings £162 penalty for cash holdings
UK households could be hit with a £162 tax penalty under new HMRC rules targeting cash held in Stocks & Shares ISAs. Learn how the 2027 changes affect your savings.
Savers warned of £8,000 ISA allowance cut
Experts warn of 'unnecessary tax' as the cash ISA limit drops to £12,000 in 2027. Learn how to protect your savings and maximise your personal savings allowance.
State Pensioners to Get £218 Extra from DWP in 2026
The DWP has announced benefit upratings for 2026/27, including a £218 yearly rise for Attendance Allowance and a key increase for Carer's Allowance. Read the full details.
HMRC's 2026 side hustle tax warning for Brits
HMRC urges Brits starting side hustles in 2026 to check tax rules. Learn about the £1,000 trading allowance and £6,000 capital gains threshold to avoid penalties.
4.3m workers spared from HMRC's £2,000 pension cap
HMRC's new salary sacrifice rule will protect 4.3 million pension savers but impact 3.3 million. Learn how the £2,000 allowance cap could affect your retirement savings.
HMRC warns side hustles over £1,000 tax allowance
HMRC warns UK crafters and side-hustlers to declare income over £1,000. Learn the rules for the 2024-25 tax year and avoid penalties. Register for self-assessment now.
State pensioners to avoid income tax, Chancellor confirms
Chancellor Rachel Reeves announces those living solely on the state pension will not pay income tax, despite future rises breaching the personal allowance. Key details explained.
Triple Tax Whammy to Cost UK Savers £2,380
Millions face higher tax bills as Labour cuts Cash ISA allowance to £12,000, freezes savings allowance & hikes rates. See how it impacts you.
HMRC confirms Child Benefit rise for parents from April 2026
HMRC and the Labour government announce a 3.8% increase in Child Benefit and Guardian's Allowance from April 2026. Find out the new weekly rates and how to access Tax-Free Childcare support.
700,000 benefit awards moved to Social Security Scotland
Over 700,000 DLA, PIP, Attendance and Carer's Allowance awards have been successfully transferred from DWP to Social Security Scotland. Find out what this means for claimants.
HMRC 'Minus Allowances' Cut UK Take-Home Pay
Thousands face reduced pay as HMRC uses 'K' tax codes to claw back debts via PAYE. Experts explain the 'minus allowance' and what to do if you're affected.
HMRC to Pay 'Thousands' for Tax Fraud Tips
UK households could receive huge payouts for reporting high-value tax fraud to HMRC. Learn how the Strengthened Reward Scheme works and if you qualify.
Call to Double State Pensioners' Tax Allowance
A parliamentary petition urges HMRC to double the personal tax allowance for state pensioners to £25,140. With 10,000 signatures, it seeks to protect pensioners from rising tax bills as thresholds remain frozen.
Tax-Free Allowance hits £13,006 with HMRC rule
HMRC is increasing the effective Personal Allowance to over £13,000 for eligible taxpayers. Discover how to claim tax relief on job expenses, maintenance payments, and charitable donations.
HMRC's 0% tax band on £5,000 savings income explained
HMRC has clarified the 'starting rate for savings', a 0% tax band on up to £5,000 of savings income for eligible UK households. Find out if you qualify and how it works.
ISA rule change to cost UK households over £1,200 in tax
Millions face a tax bill after the cash ISA allowance was cut from £20,000 to £12,000. Analysis reveals higher-rate taxpayers could lose £1,216. Explore tax-free alternatives now.
HMRC to crack down on ISA tax-free allowance loopholes
HMRC unveils strict measures to prevent savers circumventing the new £12,000 cash ISA limit from April 2027. Experts warn of 'stealth tax' on investors.
HMRC uses AI to target tax evasion and fraud
HMRC is turning to artificial intelligence to tackle a £700m tax gap and improve compliance. The technology will identify risks faster but human caseworkers will make final decisions. Read the latest.
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