EU considers bloc-wide tax on energy prices as winter crisis deepens September 1, 2022 The EU could bring in a bloc-wide tax on energy profits and cap prices as it ramps up its response to an escalating winter crisis.
Cabinet rift deepens as Braverman hits out against Truss’ tax U-turn October 4, 2022 Liz Truss is facing very public cabinet splits just a month into her premiership, with two senior ministers today hitting out against her tax cut U-turn. Home secretary Suella Braverman today said she was “disappointed by the subsequent reversal” in the decision to cut the top 45p rate of Income tax and housing secretary Simon [...]
Liz Truss plays down calls for windfall tax May 18, 2022 Foreign secretary Liz Truss has played down calls for a windfall tax on energy firms, saying “we need to attract investment”, and a tax would be a deterrent. Speaking on Sky News this morning, she appeared to be at odds with calls made by the Chancellor Rishi Sunak yesterday, who said nothing was off the [...]
Shell boss says Governments may need to tax companies to ease energy bills October 4, 2022 Governments should tax companies to help vulnerable customers deal with soaring energy costs, argued Shell's boss Ben van Beurden.
Inheritance tax shows just how antiquated our system is and how much we’re losing December 9, 2022 Ultimately, the UK tax system remains rooted in 19th century principles. It requires modernisation as well as simplification. But it’s not a priority for government,
House builder Crest Nicholson reports mixed fortunes with completions up but post-tax profits dented by uncertainty January 17, 2023 British housebuilding firm Crest Nicholson reported an uptick in revenue and completed homes last year despite continued disruption and pressure to supply chains. The firm’s revenue up until October 2022 was up 16 per cent to £913.6m, up from £786m in the pandemic-affected 2021 report. Home completions also increased by 13.6 per cent to 2,734, [...]
Junior Isas and the £100k children’s savings club: As savings deadline approaches parents reminded to use their tax free allowance March 28, 2023 Around 40 children had Junior Isa pots worth £200,000 or more at the end of the 2020/21 tax year, according to HM Revenue and Customs (HMRC) figures. And around 500 had savings pots worth £100,000 or above, the figures indicate. The rounded figures were released after a freedom of information request made on behalf of [...]
Truss refuses to commit to more tax cuts in apparent row-back on Kwarteng comments September 29, 2022 Liz Truss has refused to commit to more tax cuts in an apparent row back of earlier comments from Kwasi Kwarteng. Truss today told BBC London that it was important to be “fiscally responsible” and to “bring debt down over time”, after being asked if she would bring in more tax cuts. Truss and Kwarteng’s [...]
Saving: Reforms needed to extend benefits of UK tax breaks beyond wealthier ‘top 10 per cent’ January 16, 2023 A shake-up of incentives to help people save is needed to help more households build resilience against financial shocks, according to a think tank. The struggle to save is a particular problem for low to middle-income households, with those in the bottom half of the income distribution typically having £3,000 of savings per adult, the [...]
Truss pledges immediate tax relief review for stay-at-home parents July 21, 2022 Liz Truss has pledged to conduct an immediate review into providing tax relief for stay-at-home parents and carers if she is made Prime Minister. The foreign secretary said she would look at treating households as “single tax entities” so that “people aren’t penalised for taking time out of work to care for family or their [...]