UK Tax

The UK government borrowed less in December than was expected, which is a boon to chancellor Jeremy Hunt’s plans to reduce taxes in advance of the expected general elections this year. According to the Office for National Statistics, the…

British Steel, a Chinese-owned company, has been shocked by the resignation of its auditor. The new auditor was unable verify stock worth tens and millions of pounds. Moore Kingston Smith, who audited the finances of British Steel for…

The income tax revenue has risen by 70 percent since 2010, to £264 billion. This shows the dramatic increase in tax burden that successive Conservative governments have overseen since they came to power. HM Revenue & Customs figures…

On Sunday, UK Prime Minister Rishi sunak and Labour Leader Sir Keir starmer squared off for a "fight", as they set the battle lines for the general election to be held this year. Sunak said that the Conservatives will cut taxes on…

Video-game, TV, and film producers in the UK will receive more generous tax incentives from Monday. This comes after industry warned that the UK could lose out on animation and special effects. The government announced that all companies…

UK pharmacy operators have reacted angrily to a probe conducted by HM Revenue & Customs on their use of locum pharmacies. They warn that a "retrospective attempt" by the tax agency, in order to recover cash, could lead high street…

Chancellor Jeremy Hunt cut personal and business taxes by £20bn as part of his Autumn Statement aimed to boost growth. However, the UK's Budget Watchdog warned that taxes in general are still increasing at a high post-war level. The…

A top investment bank warned that the Bank of England’s decision to sell off government bonds costs taxpayers £15bn a yearly and limits Jeremy Hunt’s ability to reduce taxes. Deutsche Bank stated that Threadneedle's decision to…

The UK tax authority warned it would face additional costs in this year due to 1.2mn people being added to the tax net as a result of higher income and savings rates. Jim Harra told Members of Parliament that HMRC was prepared to handle…

According to a think tank analysis, UK charitable foundations that have assets totaling more than £12bn only give away a fraction of their assets to worthy causes every year. Pro Bono Economics conducted exclusive research that…

The UK's climate targets have been weakened by Rishi Sunak, leaving British exporters to face hundreds of millions in EU border taxes on carbon within the next 10 years -- revenue that would otherwise have gone to the Treasury. After the…

A City bank warned that the transition towards net zero, and pressures from an ageing population could push up tax burdens. BNP Paribas analysts, a French multinational banking company, stated that the spending demands of several…

According to a study on inequality in the UK's tax system, a graduate who earns £35,000 per year pays nearly twice as much tax than someone earning the same amount from renting property. According to the Intergenerational Foundation,…

The Chancellor's hopes for a tax cut before the election are dashed by record wage growth For Jeremy Hunt fixing Britain's financial situation has become a game called whack-a mole: as soon as one problem is solved, another…

According to data released on Thursday, Britons paid an unprecedented £16.7bn in capital gain tax during the financial year 2021-22 due to rising asset values and increased house sales. HM Revenue & Customs figures showed a 15%…

The death rate increased during the Covid-19 pandemic, which led to a steep increase in the number estates that paid inheritance tax. HM Revenue & Customs figures released on Wednesday show that inheritance tax liabilities are up by…