Truss: Cancelled 45p tax cut was never a ‘priority policy’ October 4, 2022 Liz Truss has said the cancelled tax cut for people paying the top 45p rate of Income Tax was never a “priority policy” as she seeks to defend the U-turn. The Prime Minister said she does “support a lower, simpler tax system”, but that “what we couldn’t allow is a fairly minor part of the [...]
Start-up tax pain could scupper Rishi Sunak’s science superpower dreams, investors warn March 10, 2023 Further tax pain inflicted on the UK’s start-ups could scupper Rishi Sunak’s tech and science superpower plans, venture capital firms have warned. The warning comes as Jeremy Hunt prepares to announce his first full budget next week. Start-ups have piled pressure on Hunt to reverse changes to research and development tax credits announced in the [...]
Harbour Energy’s bumper profits wiped out by £1.3bn hit from windfall tax March 9, 2023 Harbour Energy's bumper profits have been nearly wiped out by the windfall tax - taking a huge £1.3bn hit in earnings from the new levy.
Love it or loathe it, VAT free shopping only makes our tax system even more unwieldy March 7, 2023 If you want to give luxury stores a leg up at the expense of local businesses and create an even more complicated tax system - VAT free shopping is for you, writes Ben Ramanauskas.
Tullow Oil faces hefty £243m tax bill in Ghana following bumper revenues January 25, 2023 Tullow Oil is facing a hefty £243m ($300m) tax bill in Ghana - home to the fossil fuel producer's flagship fields.
Raising windfall tax would be “disastrous” for Britain, says North Sea body November 7, 2022 Expanding the windfall tax would be "disastrous", warned a leading North Sea group in a letter to Chancellor Jeremy Hunt.
Harbour Energy snubs North Sea licensing round after windfall tax hike December 16, 2022 Harbour Energy has announced it will not enter the UK's first exploration licensing round in nearly three years.
MPs call for lower taxes as UK marks latest annual Tax Freedom Day since the early-1980s June 7, 2022 MPs have called on the UK government to cut the burden on UK taxpayers after new figures showed working people spent a higher proportion of their incomes on taxes than at any other point since the early-1980s. The calls come after the Adam Smith Institute (ASI) published new figures, for Tax Freedom Day, showing UK [...]
Business secretary: Windfall tax not the answer May 1, 2022 Business Secretary Kwasi Kwarteng has voiced firm opposition to a windfall tax on oil and gas companies despite Chancellor Rishi Sunak raising the possibility. The Cabinet minister was adamant that it would be a “disincentive” to investment by energy giants despite his colleague in the Treasury using the threat to encourage spending, as their profits [...]
Self assessment: It’s that time of the year (again), but filling in your tax return is nothing to be scared of January 20, 2023 The self-assessment tax return deadline is almost here, and many people have yet to file theirs, so City A.M has asked Jenny Holt, managing director of customer savings and investments at Standard Life, for some advice. First things first though, the deadline for filing self-assessment tax returns is 31 January, with returns needing to be [...]