Hunt mulls change in non-dom tax breaks for autumn fiscal statement November 4, 2022 Treasury officials are looking at potential changes to the UK’s rules on non-domiciled tax status as a part of Jeremy Hunt’s autumn fiscal statement later this month. The chancellor has reportedly tasked officials on the Treasury’s high net worth individuals policy team to look at ways to cut down on tax breaks for non-doms as [...]
Truss vows to slash taxes for SMEs and to unleash ‘business revolution’ August 21, 2022 Liz Truss has promised to slash taxes for British SMEs and unleash a “business revolution” in the UK if she is crowned Prime Minister next month. Truss said that her government would “back business to deliver” and “stop putting so much red tape, so much tax on business”. The foreign secretary told The Sun On [...]
Harbour Energy warns raising windfall tax could risk UK investments November 3, 2022 Harbour Energy has warned it will have to reconsider investments in the UK, if the windfall tax is further expanded.
Total Energies to cough up £1.7bn to pay off hiked windfall taxes January 18, 2023 French oil major TotalEnergies has confirmed it will take a £1.7bn hit in the fourth quarter from EU and British windfall taxes.
Capital gains tax receipts increase £5bn in two years: Is its future aligned with income tax? May 15, 2022 The amount of Capital Gains Tax collected by the government has shot up by more than £5bn in the past two years, according to official figures from HMRC. Rising from £9.8bn in 2019/20 to £14.9bn in 2021/22, the huge increase comes after changes to the tax and rising house prices. The increase in Capital Gains [...]
Tech companies may try to dodge digital tax if OECD reforms are delayed, UK spending watchdog warns April 5, 2023 Tech firms may try to dodge a UK government tax levied on digital companies if international tax reforms on the sector are delayed, parliament’s spending watchdog warned. The public accounts committee said this week that it had raised £358m from the digital services tax in its first year, 30 per cent more than expected, but [...]
‘It’s going to be rough’: Hunt and Sunak set to announce autumn tax hikes October 31, 2022 Jeremy Hunt is set to announce tax rises in his fiscal statement next month, after holding talks today with Prime Minister Rishi Sunak today. The Treasury said the chancellor and Prime Minister agreed “tough decisions are needed on tax rises as well as spending”, with a Treasury source warning “it’s going to be rough”. The [...]
‘I won’t soak the City’: Starmer promises not to hike bank taxes if elected December 8, 2022 Sir Keir Starmer has promised not to carry out a tax raid on the banks if he is made Prime Minister as he continues his electoral pitch to the City. The Labour leader said he would not slap a windfall tax on City financial services firms or hike the banking surcharge during Labour’s business conference [...]
More than 6m extra Brits to be caught by higher income tax rate net in just a few years May 16, 2023 More than an additional 6m Brits are poised to be caught in the higher income tax net compared to the early 1990s in what has been characterised as the steepest tax hike in four decades, new research out today reveals. Prime Minister Rishi Sunak’s decision as Boris Johnson’s Chancellor to freeze tax bands for several [...]
The Notebook: Reforming the NHS, how the world got rich, and tax breaks for the over-50s January 16, 2023 The notebook is a place for interesting people to say interesting things. Today, it’s the turn of John O’Connell, Chief Executive of the TaxPayers’ Alliance Reforming the NHS no longer so unsayable? As the NHS endures its annual winter crisis – before it moves into its inevitable summer crisis – thousands of doctors are reportedly [...]