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The Latest Breaking News from Income Tax

IRS federal income tax brackets are changing in 2026. Experts reveal what this means for you

These changes will impact taxpayers when they file in 2027

The Independent UK

Chancellor's Budget raid will make 500,000 more people in London and South East pay 40% income tax rate

Rachel Reeves is set to impose a ‘stealth tax’ in her Budget on November 26 with a further two-year freeze on income tax thresholds

Evening Standard

Wasted public money and Rachel Reeves’s income tax hokey cokey

Letters: Michael Bichard, John Denham, Liam Byrne and Helen Bailey on making better use of current resources, Dan Goss on making the case for tax rises, and Jol Miskin on a U-turn

The Guardian - UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Have Reeves and Starmer missed the chance to ditch stealth taxes?

Retreat from plans to increase income tax means Labour is unlikely to make system fairer and more coherent

The Guardian - UK

Income tax U-turn will only hasten Starmer’s departure, MPs warn

Ministers and backbenchers reacted with despair to U-turn and claimed the prime minister was ‘weakened’

The Independent UK

Reeves to freeze thresholds after ditching planned income tax hike – reports

The Chancellor is understood to have U-turned after improved forecasting from the Office for Budget Responsibility.

Evening Standard

Reeves ‘plots new property tax’ in Budget after income tax U-turn

Chancellor could bring in new levy on high-value properties and maintain the freeze on thresholds

The Independent UK

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Rachel Reeves’s U-turn on income tax is needless, cowardly – and wrong

THE INDEPENDENT VIEW: Editorial: The chancellor’s decision to break a manifesto pledge cannot so easily be flipped from yes to no, especially when there has been no change in the economy to warrant it. This is no way to run a government

The Independent UK

Reeves’s plan to ditch income tax rise prompts government bond sell-off

Switch in budget plan causes cost of UK government borrowing to rise by the most in a single day since early July

The Guardian - UK

Reeves’s tax U-turn: how Labour changed course on budget plans

Chancellor spent weeks preparing the ground for breaking manifesto pledge but events this week appeared to change her mind

The Guardian - UK

Financial markets grow fretful after reports of UK government abandoning income tax hike

British financial assets were under pressure Friday on growing speculation that the Labour government has ditched plans to raise income taxes in a crucial budget at the end of the month

The Independent UK

‘The speculation is ridiculous’: Readers vent frustration over Budget uncertainty

YOUR VIEWS: Our community is split over Rachel Reeves’ upcoming Budget, with many frustrated by speculation and uncertainty, while others defend her cautious approach

The Independent UK

Londoners who own expensive homes face being hammered in Budget after Reeves U-turn to dump income tax rise

A new ‘mansion tax’ or higher council tax bands for costly properties are measures the Chancellor could announce

Evening Standard

What are Rachel Reeves’s options after U-turn on income tax rates?

From freeze on income tax thresholds to reforming capital gains tax, we look at how much the alternatives could raise

The Guardian - UK

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Evening Standard

Nightmare on Downing Street: 'Iron Chancellor' loses her mettle with Budget U-turn and Starmer in coup chaos

Commentary: Two startling own goals in a week have damaged Sir Keir Starmer and Rachel Reeves’ authority

Kiplinger

Ask the Editor, November 14: 20% Qualified Business Income Deduction

In this week's Ask the Editor Q&A, Joy Taylor answers questions on the 20% tax deduction for qualified business income or QBI.

The Independent UK

Income tax – live: Markets spooked after Reeves U-turn on major Budget tax increase

Chancellor reported to have abandoned plans over fears they could anger both voters and backbench Labour MPs

The Independent UK

Chancellor abandons planned income tax hike because of improved forecasts

The PA news agency understands the strength of tax receipts has improved the numbers from the OBR, allowing for the U-turn.

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news in one place.

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The Independent UK

Despairing economists warn Reeves’s income tax U-turn will make system ‘too complicated’ – and will wipe out buffer zone

The chancellor has ditched plans to increase income tax, leading to fears she will not be able to create the buffer zone needed to protect the UK from economic shocks next year

Evening Standard

Government borrowing costs rise in wake of income tax U-turn speculation

Reports that the Chancellor has scrapped her plans to raise income tax at the Budget has sparked a sell-off in UK Government bonds.

The Guardian - UK

Rachel Reeves plans £7.5bn tax rise in budget after U-turn on income tax rates

Chancellor expected to freeze level at which people start paying income tax for two years rather than putting rates up

Evening Standard

Rachel Reeves’ tax U-turn reports spark UK government bond sell-off

Experts said bond markets have baulked at the speculation as it leaves the Chancellor scrambling to fill a gaping black hole in the nation’s finances.

The Guardian - UK

Treasury won’t cut threshold for higher rate income tax, say sources – UK politics live

Fallout continues over budget income tax U-turn, with Treasury saying expected fiscal gap has dropped to £20bn

Evening Standard

Reeves not ‘playing fast and loose with people’s money’ amid tax U-turn reports

Culture Secretary Lisa Nandy would not be drawn into speculation that Ms Reeves has abandoned plans for the manifesto-breaking tax hike.

The Guardian - UK

Pound falls and UK borrowing costs rise as Reeves ditches plans for income tax hike – as it happened

Jitters over the UK’s autumn budget grow as chancellor Rachel Reeves abandons plans to raise income tax on 26 November

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