UK Tax

Official data shows that the number of people forced to pay income tax in Britain has risen by an estimated 4,4 million in just three years due to the government's freezing of thresholds. This statistic is likely re-ignite the tax debate in…

The UK tax authority has launched a crackdown against businesses operating as limited liability partnership. This could result in hundreds of millions of pounds being owed by private equity firms and professional service firms. HM…

Jeremy Hunt confirmed that the income tax threshold freeze of six years, which forces millions to pay higher rates, would last until 2028. Labour is free to copy the comments of the chancellor on Britain's largest tax increase on incomes…

Rishi Sunak, the Conservative Party's leader in the General Election campaign, will announce on Tuesday a £2.4bn (£2 billion) tax cut for retirees. The move is intended to bolster the "grey vote", a key Conservative constituency. The UK…

Jeremy Hunt’s plans to cut taxes before the election have been stymied after higher benefits spending and lower tax revenues pushed government borrowing over £20bn in July. The Office for National Statistics said that the Budget Deficit,…

The IMF has warned Rishi Sunak to take more aggressive action to reduce the UK public debt. This puts into question the prime minister’s plans to cut national insurance. The IMF published its Fiscal Monitor on Wednesday, and listed the…

From April, thousands of small businesses and self-employed people will not be required to charge VAT at 20 percent. The threshold for VAT registration has been raised from £85,000 up to £90,000. This is the first increase in seven…

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…

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…

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 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…