In the news: February 2026

‘People making or buying things with a view to selling at a profit and making over £1,000 of income (before expenses) each tax year need to carefully consider whether they could have tax to pay.’

ATT’s Helen Thornley in The Independent, 19 December

‘A piecemeal approach risks discouraging the move to electric vehicles without providing a stable long-term revenue base. More coherent, technology-neutral solutions – such as universal road pricing applied fairly to all vehicles – may need to be considered.’

ATT’s Emma Rawson in Birmingham Live on fuel duty, 19 December

‘The LITRG has urged the Chancellor to clarify the rules, warning that the exemption risks being unfair and adding further complexity to the tax system.’

The Daily Express on pensions breaching the tax-free allowance, 22 December

‘If taxpayers cannot afford to pay everything at once, they may be able to arrange a payment plan with HMRC, known as a “time to pay arrangement”. This is a good way of avoiding late payment penalties and debt collection action from HMRC, but interest charges will continue to apply.’

LITRG’s Claire Thackaberry in the Daily Telegraph on possible 150% tax bills, 1 January

‘The adjustment process may be confusing for some unrepresented taxpayers, while some may not realise they even need to do this. This may lead to some taxpayers inadvertently under-declaring capital gains tax, leading to penalties later down the line.’

LITRG’s Laura Cumins on GB News on CGT miscalculations, 8 January

‘The changes are part of the government’s long-delayed MTD programme, originally announced in the 2015 Budget. The policy will affect about 850,000 people in 2026-27, according to the CIOT.’

Financial Times, 8 January

‘Taken together, limited tax changes retain a system that is more generous to those on lower incomes and increasingly less so for those higher up the income scale.’

CIOT’s Ellen Milner, The Times on the Scottish Budget, 13 January