From 2028, Mayors will receive a share of the income tax generated in their regions - income tax rate won't change; it's the destination of some of that money that shifts.
£5.9 billion in the till, a Director-General on £565k, Gary Lineker's salary falling off a cliff, and a cash pile draining fast. We opened the BBC's accounts so you don't have to!
Phase one of the replacement for the tax return started last month with near 800,000 people affect. But there's more to come - read on as we reveal the full roadmap.