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Tax
Next Warns of Subdued Growth as UK Budget Tax Rises Begin to Bite
The chief executive of Next has issued a stark warning about "anaemic" sales and profit growth for the coming year, as tax increases from the UK Budget begin to impact one of Britain's largest retailers and the broader economy.
Lord…
Labour Shadow Chancellor Faces £64 Billion Pound Tax Headache as Economic Pressures Mount
Rachel Reeves, Labour's Shadow Chancellor, confronts mounting fiscal challenges as reports indicate a £6.4 billion shortfall in the government's finances. The revelation comes mere months after implementing a record-breaking £40 billion tax…
UK Businesses Set to Raise Prices as Budget Pressures Mount and Confidence Plummets
British businesses are bracing for significant price increases in the forthcoming months as the recent Budget's tax and wage cost hikes have triggered a sharp decline in business confidence, according to the British Chambers of Commerce…
British Economy Set for Tax Increases Despite Growth Forecast
Britain is poised to experience economic growth in 2025, yet this recovery may not be robust enough to prevent the Labour government from implementing additional tax hikes before the next election, according to the Financial Times' annual…
Conservative Leadership Contender Badenoch Signals Support for Flat Tax Rate System
In a significant policy revelation, Conservative leadership frontrunner Kemi Badenoch has expressed her support for implementing a flat tax rate system, describing it as an "attractive idea" for future Conservative governance. Speaking at…
German Tax Officials Storm Adidas Offices in Customs Probe
German tax authorities have conducted raids at Adidas headquarters and several satellite offices as part of an extensive investigation into potential customs and import regulation breaches. The probe, spanning from October 2019 to August…
British Hedge Fund Trader Gets 12 Year Danish Prison Sentence in Massive Tax Fraud Case
In a landmark ruling that marks one of Denmark's most significant financial crime cases, British hedge fund trader Sanjay Shah has been sentenced to 12 years imprisonment for orchestrating a £1.3 billion tax fraud scheme against the Danish…
Chinese Tax Dodging Costs UK Treasury Millions Through Ecommerce Fraudsters
Her Majesty's Revenue and Customs (HMRC) stands accused of overlooking widespread tax evasion by thousands of Chinese 'burner' companies operating through major e-commerce platforms, resulting in substantial losses to the UK Treasury.…
Labour Budget Sends Shockwaves Through British Business Community as SMEs Face Tough Decisions
British businesses are grappling with the harsh reality of Labour's recent budget announcement, as company owners across various sectors reveal the significant impact of Rachel Reeves's tax measures on their operations.
The hospitality…
Inheritance Tax Shake Up Could Spell Relief For British Farmers
The Institute for Fiscal Studies (IFS) has proposed a temporary inheritance tax holiday for farmers, addressing concerns over recent government changes to agricultural taxation. This recommendation comes in response to Chancellor Rachel…
Wealthy Non Doms Rush to Exit UK Before April 2025 Tax Changes
A significant exodus of wealthy individuals is underway as non-domiciled residents prepare to leave the UK before April, responding to the recent Budget changes regarding inheritance tax rules.
Tax specialists and legal experts report…
Proposed Changes to Inheritance Tax Rules Could Benefit Elderly British Farmers
The British government is contemplating significant modifications to inheritance tax (IHT) regulations for farmers aged 80 and above, marking a potential shift in policy following intense protests in Westminster this week. The proposed…
PWC Partners Face £36 Million Pound National Insurance Hit As Profits Decline
In a significant financial development, PwC partners are confronting a substantial increase in their National Insurance contributions following Rachel Reeves' recent budget announcement. The UK's largest auditor will need to pay an…
UK Wealth Management Leaders Challenge Reeves Pension Inheritance Tax Reform
Leading UK wealth managers have issued stark warnings to Chancellor Rachel Reeves regarding her proposed plan to subject pensions to inheritance tax, describing it as a measure that could severely damage the nation's retirement savings…
Bank of England Governor Warns Tax Rises May Delay Interest Rate Cuts
The Bank of England's governor has cautioned that recently implemented business tax increases could potentially delay future interest rate reductions. Speaking to MPs on the Treasury select committee, Andrew Bailey expressed concerns about…
Mali Government Forces London Listed Resolute Mining to Pay $160 Million Dollars in Tax Settlement
Resolute Mining, the London-listed goldminer, has agreed to pay $160 million to the Malian government following a contentious tax dispute that led to the detention of its chief executive and two other executives in the West African nation.…
UK Government Summit Confronts Offshore Tax Haven Controversy
British politicians are demanding decisive action against money laundering through UK territories as a crucial summit approaches this week. Labour's Dame Margaret Hodge and Conservative MP Andrew Mitchell have voiced strong criticism over…
Two in Five British Hair Salons Face Closure After Budget National Insurance Rise
The British hairdressing industry faces a severe crisis as approximately 40% of hair salons are at risk of closure following the devastating increased employment costs announced in last month's budget. The alarming situation stems from the…