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The Latest Breaking News from Income Tax

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

Evening Standard

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

The Independent UK

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Benzinga

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Ten 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.

Kiplinger

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

Evening Standard

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

The Guardian - UK

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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.

Evening Standard

George Osborne issues stark warning to Reeves over tax hikes

The former chancellor described the government as ‘constrained by its promise’ after Labour’s general election manifesto pledged to not increase VAT, national insurance or income tax

The Independent UK

Chancellor under rising pressure amid warning UK finance blackhole must be plugged ‘with 2p income tax hike’

Rachel Reeves has given strong indications she will break Labour’s manifesto promise not to raise taxes on “working people” at her Budget on November 26

Evening Standard

Income tax hike of at least 2p likely needed to plug Budget hole, warns Niesr

The economic think tank said the Chancellor needed to make ‘brave choices’ at the upcoming November 26 Budget.

Evening Standard

Our hapless chancellor has finally run out of wiggle room

THE INDEPENDENT VIEW: Editorial: Rachel Reeves has asked each of us to ‘do our bit’ as she prepares to break her party’s manifesto pledge and raise income tax – but it is now clear that she has made the bad situation she inherited worse

The Independent UK

Prospect of breaking 50-year income tax taboo shows scale of Reeves’s challenge

The chancellor appears to believe voters will forgive a broken promise in return for meaningful investment

The Guardian - UK

When to Hire a Tax Pro: The Age Most Americans Switch to a CPA

Taxpayers may outsource their financial stress by a specific age. Find out when you should hire a tax preparer.

Kiplinger

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Evening Standard

‘Wait and see’ if Reeves ups income tax but I will cut it in Scotland – Sarwar

The Scottish Labour leader said taxes set by the Scottish Government are ‘too high’.

The Independent UK

Voices: Income tax rises or fairer reforms? Join The Independent Debate on the Budget choices facing Rachel Reeves

THE INDEPENDENT DEBATE: As Rachel Reeves prepares her first Budget and warns of ‘painful decisions’ ahead, debate is growing over whether she should raise taxes to fix the public finances or find fairer, alternative ways to boost revenue. Now it’s time to have your say...

The Guardian - UK

I hope Rachel Reeves does raise income tax – there’s a way she can do it fairly

The chancellor might need to break manifesto pledges and a 50-year taboo, but she has a chance to steer UK finances back on track, says Ruth Curtice of the Resolution Foundation

The Guardian - UK

Pound hits lowest since April as investors anticipate budget tax rises; markets hit by AI valuation jitters – as it happened

Sterling drops against dollar as chancellor’s speech is taken as a sign that taxes will rise in the budget, and interest rates may fall faster

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Evening Standard

Rachel Reeves speech LIVE: Chancellor accused of 'waffle bomb' as she rolls ground for Budget tax rises

Rachel Reeves has said the Budget will focus on ‘getting inflation falling’ and ‘creating the conditions for interest rate cuts’

The Independent UK

Rachel Reeves speech latest: Chancellor has ‘no regrets’ if Labour breaks promise not to raise taxes in Budget

In recent weeks No 10 has repeatedly refused to re-commit to Labour’s manifesto pledges

The Guardian - UK

Reeves to lay groundwork for tax rises in ‘candid’ speech about budget

Chancellor to promise ‘fairness and opportunity’ but will not repeat manifesto pledge on tax, after PM’s hint at breach

The Independent UK

Reeves to promise ‘fairness’ in Budget as income tax hike speculation mounts

No 10 repeatedly refused to say whether Labour’s manifesto pledge not to raise income tax still stands.

Evening Standard

What's 'front of mind' for Chancellor Rachel Reeves as she plans Budget tax rises and will they hit you?

Cabinet colleague Heidi Alexander gave an insight into Ms Reeves’ thinking

The Independent UK

‘More than a hundred tax and spending plans’ being considered by Reeves ahead of Budget

The Office for Budget Responsibility is expected to downgrade the UK’s performance on productivity at the Budget

The Independent UK

Starmer to face cabinet backlash if he breaks manifesto pledge on income tax

Senior ministers fear rumoured plans could backfire significantly with already-weary voters

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