The jargon, explained
Short, neutral definitions of the tax and policy terms our explainers use — fiscal drag, stamp duty, capital gains tax and more. Each links to the proposals where it comes up.
Fiscal drag
Fiscal drag is when tax thresholds are frozen while wages rise, so more people are pulled into paying tax —…
The personal allowance
The personal allowance is the amount you can earn each year before you pay any income tax — £12,570 in 2025…
Section 21 (no-fault evictions)
Section 21 was the rule that let landlords in England evict tenants without giving a reason — a 'no-fault' …
Stamp Duty Land Tax (SDLT)
Stamp Duty Land Tax is a tax you pay when you buy a home or land above a certain price in England and North…
Capital Gains Tax (CGT)
Capital Gains Tax is the tax you pay on the profit when you sell an asset — such as shares or a second home…
The triple lock
The triple lock is the guarantee that the UK state pension rises each year by whichever is highest: inflati…
National Insurance (NI)
National Insurance is a tax on earnings and self-employed profits that helps fund the state pension and som…
Net zero
Net zero is the UK's legally-binding target to cut its greenhouse-gas emissions to effectively nothing — ba…
IR35
IR35 is a set of tax rules that decide whether a contractor working through their own limited company is re…
The two-child benefit limit
The two-child benefit limit was the rule that capped the child element of Universal Credit at the first two…