Oil industry pivots to low carbon projects to rake in US green subsidies March 7, 2023 The oil industry is positioning itself to take advantage of billions of dollars of US tax credits established through the US Inflation Reduction Act.
HMRC confirms probe into 153 people suspected of aiding tax evasion September 13, 2021 HMRC has confirmed it is investigating 153 suspected ‘enablers of tax evasion’, including unregulated tax advisers. Cracking down on ‘enablers of tax evasion’ has been a key area of focus for HMRC since it established its Fraud Investigation Service in 2015. HMRC’s Fraud Investigation Service has been given additional resources to recruit more staff and, as a result, the number of investigations into [...]
Labour’s business events the hottest ticket in town at party’s annual conference August 27, 2023 Labour has attracted a surge of interest from business at its annual conference in October, as shadow chancellor Rachel Reeves ruled out any version of a wealth tax under a Labour government.
£13bn in a year: Entrepreneurs selling businesses and assets cause capital gains tax bills to jump 20 per cent February 22, 2022 The UK’s Capital Gains Tax bills jumped 20 per cent from £10.8bn to a record high of £12.9bn in the past year, according to new research shared with City A.M. this afternoon. The increase is primarily due to a rise in tax on entrepreneurs selling businesses causing The value of capital gains in the UK [...]
Boris’ tax mania could push British business into Labour’s open arms November 3, 2021 An exec recently recalled a meeting between banking bosses and ex-Shadow Chancellor John McDonnell when it looked like Labour may just seize power. As the suits traipsed into a room the Marxist quipped: “Don’t worry. We’re not sending you to a re-education centre in Doncaster … yet.” He also promised to whack corporation tax up [...]
Boris Johnson social care changes dubbed ‘working-class dementia tax’ by Keir Starmer November 25, 2021 The prime minister was accused of launching a “working-class dementia tax” by Sir Keir Starmer in the Commons yesterday, following changes to social care. The accusations came after Boris Johnson announced changes earlier this week to his social care policy which will see older, less well-off people face costs of up to £86,000 for their [...]
G20 leaders back global minimum corporate tax deal from 2023 October 30, 2021 World leaders are set to endorse a deal on a global minimum corporate tax of 15 per cent, to be enforced in 2023. Leaders are readying to back the Organisation for Economic Co-operation and Development (OECD)’s deal, according to draft conclusions of the G20 summit. The documents, seen by Reuters, stated: “We call on the [...]
Farming minister: UK needs carbon taxes to push farmers to be more eco-friendly October 30, 2021 The UK is edging towards taxes on the meat sector, which is a high polluter, according to the farming minister. Speaking to The Telegraph, environment and food secretary George Eustice said the country must “move into the realms of things like carbon taxes” when existing EU agricultural subsidies are eventually phased out. The Government is [...]
Conservative MP Ben Everitt paid by accounting body which voted against tax on consultants November 22, 2021 A conservative MP who spoke out in Parliament against extensions to a tax law on consultants also earned thousands of pounds himself from an accounting group that lobbied against the tax, according to reports. Ben Everitt, the MP for Milton Keynes North, was paid nearly £14,000 for 60 hours of work for the Institute of Chartered [...]
Hunt defends new electricity generator levy in Downing Street showdown December 15, 2022 Chancellor Jeremy Hunt defended the introduction of a new tax on legacy electricity generators at a Downing Street roundtable this week.