The Latest Breaking News from Income Tax

Chancellor Jeremy Hunt tore up the Energy Price Guarantee after six months, stalled Income Tax at 20p and thrown most of the mini-Budget out of the window.

Jeremy Hunt axed a series of tax cuts on Monday and signalled the energy support package will be more targeted next year as he raced to save Britain from more economic mayhem. In an emergency statement, the new Chancellor ripped up large parts of the “Kamikwasi” mini-budget with a blitz…

Review for Liz Truss's flagship energy policy among U-turns in new Chancellor's statement

Almost all measures from Kwasi Kwarteng’s mini-Budget junked

Jeremy Hunt this morning announced another U-turn on the disastrous Mini-Budget, pushing back the 1p cut to Income Tax as he tried to restore market confidence in the Government

Almost all tax plans have been scrapped - meaning alcohol will also go up 7p

In one of the biggest U-turns in British history, Chancellor Jeremy Hunt tore up the Energy Price Guarantee beyond six months, kept Income Tax at 20p and junked almost all of the mini-Budget

Pound holds gains and gilt yields remain lower as new chancellor rips up Trussonomics, pushing tax take to 70-year high this parliament

The Treasurer may have ruled out making changes to the stage 3 income tax cuts in his first budget, but there is a growing push for more comprehensive tax reform from experts and the parliamentary crossbench.

Mark Drakeford has said he is 'powerfully considering' increasing income tax in Wales in order to make up for other budget shortfalls

The Chancellor is reportedly considering delaying the 1p cut to the basic rate of income tax by a year