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The Latest Breaking News from Income Tax

Kwasi Kwarteng: Tax changes favour people right across the income scale

Kwasi Kwarteng claimed his tax cuts “favour people right across the income scale” amid accusations they mainly help the rich, and he hinted more are on the way. The Chancellor defended his programme of tax cuts – the biggest for 50 years – which he announced on Friday using more…

Evening Standard

Watch: Keir Starmer says Labour would reverse Tories’ 45p rate tax cut

Sir Keir Starmer hit out at the Government’s “wrongheaded” economic policies as he pledged to reverse the income tax cut for people earning more than £150,000. The Labour leader, who said his party now had a belief it would win the next general election, said the mini-budget announcements by Chancellor…

Evening Standard

Britain's Labour pitches itself against tax cuts for the wealthy

Keir Starmer, leader of Britain's Labour Party, on Sunday pledged to reverse the abolition of the top rate of income tax, saying tax cuts for the wealthy wouldn't create economic growth as he made a pitch for power at his party's annual conference.

Reuters

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Tories warn Scots will be ‘left behind’ without income tax cuts by SNP ministers

Conservative MP John Lamont hailed the ‘radical’ measures in Friday’s mini-budget – though the SNP’s Ian Blackford branded them as ‘nonsense’.

The Independent UK

Mark Drakeford brands mini-budget 'authentically shocking' in scathing criticism

He described it as a 'giant experiment that will leave families worse off long into the future'

Wales Online

Starmer vows to reverse ‘wrongheaded’ cut to income tax for rich

Labour leader Sir Keir Starmer rejected the Government’s “trickle down” economics approach.

The Independent UK

Burnham says Labour government should reverse 1p income tax cut and bring back 45p rate

Andy Burnham has said a future Labour government should reverse the 1p income tax cut and bring back the 45p rate, in a challenge to party leader Sir Keir Starmer.

The Independent UK

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TurboTax Shares 10 Popular Tax Deductions

Tax deductions lower your taxable income and the amount of income tax you have to pay. Explore some of the most popular deductions here.

The Street

Martin Lewis shares some good news for Brits who earn less than £50,000 a year

As the basic rate tax threshold has dropped to 19 per cent from 20 per cent, the cut to income tax impacts those earning between £12,571 and £50,270

Daily Mirror

Martin Lewis has some good news for anyone earning less than £50k

MoneySavingExpert founder explains latest Stamp Duty and Income Tax changes

Wales Online

Martin Lewis explains mini-budget ‘gain’ for people earning less than £50,000

The money expert explained how people would be impacted by the Government's announcements, including the 1p cut to Income Tax

Chronicle Live

Martin Lewis gives good news for workers earning under £50,000 in new video

The Money Saving Expert founder explained the latest Stamp Duty and Income Tax changes that were brought in by Chancellor Kwasi Kwarteng's 'new growth plan' on Friday

Daily Mirror

Mini-budget 2022: what it means for you

High earners are the big winners in the chancellor’s tax giveaway, while people on universal credit risk losing income

The Guardian - UK

Chancellor says mini budget ‘is not a gamble’ as pound plunges

Kwarteng defends massive tax cuts and borrowing as spooked markets leave pound at new 37 year low

Evening Standard

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Chronicle Live

'Reckless and irresponsible' – North East Labour MPs' tax cut fury after mini-budget 'for the rich'

Chancellor Kwasi Kwarteng announced a huge set of measures on Friday, including abolishing the top rate of income tax for high earners, which will be funded by more than £70bn of borrowing

Daily Mirror

All the ways mini-Budget hands thousands to the rich - and pennies to the poor

This is a Budget for the rich - with £1m earners getting £55,000 while £25k earners get £283. We take you through all the ways the Income Tax, National Insurance, Stamp Duty and other tax cuts help the better-off

Chronicle Live

Martin Lewis brands Tories’ mini-budget announcements ‘staggering’ as he reacts to tax cuts

The Chancellor announced cuts to Income Tax, National Insurance and stamp duty in a series of new measures

Evening Standard

Kwasi Kwarteng: Budget in full

Kwasi Kwarteng has unveiled a mini-budget that delivers billions of pound worth of tax cuts - including a surprise move to scrap the 45% top rate of income tax paid by the UK’s wealthiest. The Chancellor announced sweeping moves intended to rev up the economy in the eagerly-awaited “fiscal event”…

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The Guardian - UK

Scottish and Welsh leaders say tax cuts for rich are ‘moral bankruptcy’

Nicola Sturgeon and Mark Drakeford criticise UK government over mini-budget that ‘embeds unfairness’

Bristol Post

Chancellor Kwasi Kwarteng's mini-budget - have your say

Using more than £70 billion of increased borrowing, Kwasi Kwarteng has set out a package which includes abolishing the top rate of income tax for the highest earners. Let us know what you think of his mini-budget announcement

Daily Mirror

Mini-Budget calculator: See how much you'll gain from huge tax and energy changes

The Mirror has pulled together a new calculator to highlight some of the key changes revealed today - including a reversal of the National Insurance hike and a 1p cut in Income Tax

The Independent UK

Pound plummets as Kwasi Kwarteng sets out biggest raft of tax cuts for 50 years

The Chancellor abolished the top rate of income tax for the highest earners.

The Independent UK

Government fiscal plans a Thatcherite-on-steroids budget, says Murphy

Income tax and stamp duty on home purchases will be cut and planned rises in business taxes have been scrapped.

The Independent UK

How will mini-budget announcements affect UK households?

The Government has unveiled a raft of tax cuts as part of plans to drive up growth during the cost-of-living crisis.

Evening Standard

Kwasi Kwarteng’s high stakes bet on growth

FOR a “fiscal event” or even a mini-Budget, there is an extraordinary change of direction identified in the Chancellor’s speech today — enough for a couple of conventional Budgets. He told us this morning, “there are too many barriers to enterprise”. Accordingly, he has set out a dizzying range of…

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