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UK Tax
Jeremy Hunt is considering scrapping the ‘nondom’ tax status in the Budget
Jeremy Hunt has prepared an emergency Budget plan to scrap or reduce Britain's non-dom tax rules in the event he needed to raise billions to fund pre-election mass-market tax cuts.
Treasury insiders say the chancellor is working on a…
Sunak’s tax raid is a stealthy one to catch 900,000.
New analysis shows that Rishi Sunak’s stealthy tax raid could hit up to 900,00 pensioners next year with a unexpected income tax bill.
The six-year tax threshold freeze by the Prime Minister will make it necessary for hundreds of…
UK taxpayers invested £400m in OneWeb. Its technology is now a gift for France.
Pouring £400 million of taxpayers' cash into a bankrupt satellite company in the middle of a pandemic was something of a head-scratcher for the public. But for Dominic Cummings, spending the money in June 2020 to rescue the British…
The sharp fall in UK government borrowings in December has raised the prospect of budget tax cuts
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 is rocked by auditor’s resignation after only a year
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…
Tories see income tax revenue soar to £264bn
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…
Sunak and Starmer prepare to fight over tax reductions ahead of the election
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…
Film, TV, and video-games producers will get a more generous UK tax break
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 pharmacies hit back at HMRC’s tax probe on locum staff
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…
Jeremy Hunt reduces national insurance, but taxes are at postwar highs
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…
Hunt’s tax-cutting room squeezed by £15bn losses on Bank of England bonds
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…
HMRC is facing a growing demand as more people are forced to pay tax.
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…
Do wealthy UK trusts hoard their charitable donations in order to avoid paying taxes?
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…
UK exporters will be hit with a hefty EU Carbon Tax Bill after Sunak’s weakening of climate…
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…
BNP Paribas warns that ageing populations and net zero could lead to higher tax rates
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…
Study finds that some UK residents pay twice as much tax on their earned income as they do on…
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,…
Why Jeremy Hunt’s perfectly balanced budget could be blown apart by the triple lock
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…
In 2021-22, Britons paid a record £16.7bn capital gains tax
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%…