The impact of frozen personal allowances often leads to fiscal drag, a situation where individuals pay more tax as their earnings rise without a corresponding increase in allowances.
This occurs because tax thresholds
As we look ahead to the Autumn Budget 2025, it is clear that the Chancellor, Rachel Reeves, will be under pressure to balance public expectations with fiscal reality. A combination of reduced growth forecasts, increased
HMRC missed out on £46.8bn in tax last year. Small businesses and Corporation Tax make up the biggest share of the shortfall.
The tax gap for the 2023-24 tax year has been published and is estimated to be 5.3% of total
The government has announced the reinstatement of Winter Fuel Payments for pensioners in England and Wales for winter 2025-26, reversing the previous year’s cuts. Around nine million pensioners are expected to benefit
The government’s 2025 Spending Review outlines a major funding boost for healthcare, defence, housing, and infrastructure to support long-term recovery and growth.
The 2025 Spending Review was published on 11 June 2025
Chancellor Rachel Reeves delivered her first Spending Review to Parliament last week, setting out the government’s financial priorities for the next three years. Her approach signals a shift away from austerity towards a