Rachel Reeves, tax and Budget
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Retail Banker International on MSN
UK banking sector’s tax handicap set to widen
The total tax contribution of the UK banking sector is estimated to have risen to £43.3bn for the financial year to the end of March 2025
Income tax will see a big change in April 2026, and opponents say it is too complicated for under-pressure workers and businesses
Reform UK leader Nigel Farage will promise not to reduce taxes before cutting spending and making savings in the civil service at a major speech next month
The Uk Government has responded to an online petition calling for planned changes to make tax digital from April 2026 to be scrapped. More than 16,800 people have signed the e-petition, hosted on the UK Government’s Petitions Parliament website.
MTD for ITSA mandates digital record-keeping and quarterly updates for self-employment and property income. Effective April 2026 for 50k+
I am 53, married with two young children and living in the Middle East in company-provided accommodation. My children are educated privately through a company facility. My salary is free of tax deductions.