CBI calls for ‘fundamental change’ to UK tax system to achieve climate change goals March 11, 2021 One of the UK’s most influential business groups has called for the government to deliver wholesale changes to the country’s tax regime in order to hit its 2050 net zero target. The CBI said that instead of making changes to individual taxes, ministers should instead pursue “fundamental change with a holistic, coherent tax plan”. It [...]
Taxing time for Ed Sheeran as singer pays £28m to HMRC January 29, 2021 Singer Ed Sheeran paid a whopping £28m in taxes this year, making him one of the UK’s biggest taxpayers. Ed Sheeran was named along with 49 others as part of the Sunday Times Tax List, which lists the taxes paid by the wealthiest in the country. Sheeran was by far the most high-profile new entry [...]
Rishi Sunak must stop dragging his heels and seize a once-in-a-lifetime chance to fix global corporate tax May 21, 2021 Anger at the never ending stories of global corporations dodging tax is set to hit boiling point. Barely a day goes by without a fresh tale of a big multinational paying ultra-low rates of tax. Even after a year of record sales during the pandemic, Amazon Europe did not pay any corporation tax on the [...]
The Power of Capitalism: The myth of Swedish socialism May 10, 2024 Sweden has long had a reputation as a successful 'socialist democracy' - but it's market reforms that have powered growth
Rule changes will trigger a non-dom gotterdammerung September 9, 2024 Inheritance tax for non-doms poses a real risk of capital flight that could drive away jobs and risk public spending commitments, says Leslie MacLeod-Miller The UK is on the brink of economic self-sabotage. Proposed changes to the non-domicile (non-dom) tax regime could trigger a mass exodus of investors, taking jobs and tax revenue with them. [...]
Child benefit changes just move distortions higher up the income scale June 12, 2024 Tory plans to change the threshold at which a household loses child benefit won’t fix the fact that some two-child families face a marginal tax rate of 73 per cent, say Ash Majithia and Tim Sexton It’s been framed as a hand-out for the wealthy, including executives in the City of London. But the real [...]
Reeves is right to squeeze private equity – but a sweeping capital gains hike will hurt the City, says Cavendish chair September 5, 2024 The government is right to launch a raid on the profits made by private equity bosses but a sweeping hike in capital gains and inheritance tax could suck investment out of the City, the chair of investment bank Cavendish has warned. Lisa Gordon, who chairs the London-listed broking group, urged Rachel Reeves to be “more [...]
So much for Singapore on Thames: UK corporation tax will be higher than France and Germany March 4, 2021 Yesterday, it was announced that corporation tax will rise from 19 per cent to 25 per cent by 2023 for UK companies with annual profits of £250,000 or higher. Although a new “super deduction” will see companies wipe out their tax bills by investing in property, plant and equipment for the next two years, the [...]
Rishi Sunak doubles down on 2021 deadline for global tech tax deal February 12, 2021 Rishi Sunak has doubled down on a commitment to establish a new global tax on tech firms in the coming months following years of conflict over a new regime targeting Silicon Valley. In a G7 meeting today the chancellor said the new digital tax framework was a “key priority” and called on member nations to [...]
National insurance cut by 2 per cent January 6, 2024 The main rate of national insurance was today cut by two percentage points, from 12 per cent to 10 per cent. The move, announced in last year’s autumn statement, was hailed by the Conservatives but Labour called it a “raw deal” and economists said many households are still facing the burden of high taxes. Chancellor [...]