Income tax

A clampdown on suspected tax avoidance among taxpayers with rapidly rising wealth has netted HMRC an extra £11.5m since it began targeting the group in 2012, according to calculations.

The Conservative party has promised a range of cuts if it wins power in the general election in May.

The Green party has announced it will push to increase the top rate of tax to 60p in the pound if it gains influence in the General Election.

The government has raised the amount people can earn before they pay income tax, and increased the threshold at which people pay the higher rate of income tax.

The Chancellor George Osborne will announce in today's Budget he plans to scrap the annual tax return, replacing it with a single ‘digital' tax account.

George Osborne is planning a pre-election boost for hundreds of thousands of workers by announcing a further increase to the income tax personal allowance.

The Chancellor will raise the personal allowance threshold to £10,600 in the next year, £100 more than initially planned.

The Liberal Democrats have told David Cameron they will refuse to form a coalition with the Conservatives unless he commits to tax hikes for the middle classes, Nick Clegg has said.

Prime Minister David Cameron has said the Conservatives will raise the 40% tax threshold from £41,900 to £50,000 if they win the 2015 General Election.

Many middle-class professionals are paying an income tax rate of 60% as a result of a little-understood policy introduced by the last Labour government which affects more than 500,000 people, a leading economist has warned.