HMRC has clarified how tax on pensions work after a query from a pensioner who had taken a lump sum from her pension. The ...

The authority further said that they wouldn't be able to pay the tax due until HMRC has completed the end-of-year calculation ...

I believe I am being asked to pay £1,300 in taxes on interest I can't yet access. Do I owe this money and what are the rules?

More people have been pushed over their personal savings allowance due to huge improvements in rates over the past few years, ...

With savings rates hitting 4-6% on many accounts in the past 12 months, you would only need about £20,000 of savings if you’re a basic rate taxpayer or £10,000 if you’re a higher rate taxpayer to go ...

The state pension will rise to £12,631 next year, pushing it above the frozen personal allowance threshold of £12,570 for the ...

HMRC, the Labour Party government's tax arm, pocketed more than £409m in interest charges alone last year, figures have shown ...

HMRC can automatically identify interest earned on savings in bank accounts, and if it exceeds a specified limit, it will ...

From January 2025, with HMRC is cracking down on non-payment of tax for side hustles, with online marketplaces including Vinted, eBay, Etsy and Air BnB are legally obliged to share sales data for ...

Under HMRC guidance, you're entitled to a tax-free personal allowance. For those earning under £100,000 with no taxable perks (such as a company car) this should be £12,570 for 2024/25.

A personal finance expert shared an alert on TikTok calling on taxpayers to be careful. Michael Taylor warned on TikTok: "This is because interest rates have been high over recent years, which ...