Labour’s Rachel Reeves would support cut to UK basic rate of Income Tax December 9, 2021 Rachel Reeves has said she would support a 2p cut to the basic rate of UK Income Tax amid reports that Rishi Sunak is considering the measure. The shadow chancellor told City A.M. in a wide-ranging interview that she “would like to see the chancellor do it”, but described reports of Sunak’s potential tax cuts [...]
Hunt must ignore illusory fiscal windfall in Autumn statement, think tank urges November 6, 2023 James Smith, research director at the Resolution Foundation, said Britain’s bout of high inflation is "flattering the public finances, with higher pay growth feeding through into higher tax revenues."
OECD ranking: The award for the country with the world’s most competitive tax system goes to… November 11, 2021 Estonia tops the rankings in a new report by the Organisation for Economic Co-operation and Development (OECD) that was published today by the Tax Foundation, a tax policy non-profit in the U.S. The ranking zooms in on the the most competitive tax regimes around the world. Estonia’s top score is driven by a 20 per [...]
Why energy experts support Shapps’ slashing of the green levies March 28, 2023 Shapps’ plan has received a warmer response from the industry, with the debate over shifting levies to taxes or gas bills.
If billionaires can decide to pay tax with a Twitter poll, something is badly wrong November 10, 2021 There’s something darkly amusing about one of the richest men in the world using Twitter to poll his 60 million followers about whether he should pay tax. It wasn’t just the flippant way Tesla’s Elon Musk (@edgeLorde) asked his followers to vote on whether he should sell $21bn of stock and in doing so pay [...]
BP shares slide four per cent after warning of £1.6bn impairment July 9, 2024 BP also said its second-quarter results, expected on July 30, will include post-tax adverse adjustments around what it called "onerous contract provisions. These are expected to be between $1bn and $2bn.
Business rates are an outdated tax which threaten to bury our high streets and shops December 3, 2021 Businesses have been through hell and back over the last two years. From on-off lockdowns, to a botched trade deal with the EU which failed almost every sector of our economy, the business community is suffering. With the Omicron variant creating a new cloud of uncertainty that is hanging over our economy, businesses are facing [...]
HMRC action yields £0 in half of all tax probes but taxman hits back: ‘We are not driven solely by money’ March 8, 2022 HMRC investigations into individuals and small businesses last year yielded no returns in nearly half of of all cases, according to new research shared with City A.M. this afternoon. The proportion of investigations which returned no money to the Treasury has risen by over a third, to 47 per cent last year up from 31 [...]
Liberal Democrats call for £5.5bn-a-year tax cuts for small businesses December 2, 2021 The Liberal Democrats are calling for Rishi Sunak to bring in a package of tax cuts for small businesses that would be worth up to £5.5bn-a-year. Party leader Ed Davey said “Boris Johnson must be living on another planet” if he thinks his government’s planned tax rises, which will increase the country’s tax burden to [...]
Government ‘penalising’ investors with ‘baffling’ stamp duty on shares, says Interactive Investor June 22, 2023 Ministers are “penalising” the UK’s investors by levying “baffling” taxes on holding British stocks, one of the UK’s top investment platforms said today.