Income Tax

EE customers in London and the South East who left it to the last minute to complete their online self-assessment tax return were prevented from logging in to their HM Revenue & Customs (HMRC) account last night, after a blip in the network meant text messages were blocked. HMRC has promised you won't be penalised if you've been affected, though.

Time is running out for millions of taxpayers to file their online self-assessment tax return by the end of the month. Act NOW to avoid a £100 fine for missing the deadline – especially if you're filing online for the first time, as it could take up to 10 days for first-time filers to receive an activation code.

You'll be able to earn up to £11,500 a year without paying a penny of tax from next April, Chancellor Philip Hammond has confirmed.

Chancellor George Osborne has announced a range of tax cuts for individuals, with the headline news being that the level at which people start to pay income tax will rise to £11,500 in April next year.

Millions get an income tax cut over the next few years as the Chancellor is to bring forward planned increases to both the personal allowance and the higher rate tax thresholds.

Update: 1 June 2015: The Government has today announced that the 30 hours of free childcare for three- and four-year-olds will actually roll out in September 2016 in some pilot areas, ahead of the full expansion in September 2017.

From today a host of changes take force, which could see the tax you pay and the savings you make alter. Other changes will see new pension freedoms taking effect, as well as the ability to transfer Child Trust Fund savings into a Junior ISA.