Number of top rate taxpayers surges as frozen thresholds squeeze Brits April 29, 2026 The number of higher and additional rate taxpayers in the UK has soared since the start of the decade as frozen thresholds have dragged nearly two million into paying higher rates of tax despite not being classified as traditional high-paid professionals. According to the latest personal income statistics from HMRC covering the 2023/24 tax year, [...]
Italy and UK risk driving Formula 1 away with misguided tax raids April 26, 2026 Italy’s latest attempt to claw back tax from Formula 1 drivers and teams is being framed as a crackdown on evasion. In reality, it looks far more like a system struggling to keep up with the modern sport it is trying to regulate. Authorities are reportedly looking to audit teams and drivers retrospectively between 2020 [...]
Alex Gerko’s XTX paid more than £500m in corporation tax in 2025 April 6, 2026 A London algorithmic trading firm run by billionaire Alex Gerko faced a corporation tax bill of more than £500m last year, the firm’s latest accounts show, making the company one of the largest individual contributors to the exchequer. Kings Cross-based XTX Markets was due to pay around £580m in corporation tax for 2025, according to [...]
Small businesses ‘dismayed’ at HMRC plan to tighten tax rules March 23, 2026 Small businesses are “dismayed” at the prospect of tax rules being tightened under new proposals set out by HMRC. The rules, which are subject to a consultation, would require close companies, which are defined as firms controlled by five or fewer individuals, to provide HMRC with details of all transactions between the company and its [...]
Reeves broke “promises” on farmer inheritance tax reforms, court hears March 17, 2026 Rachel Reeves “broke promises” when she failed to consult over changes to inheritance tax (IHT) reliefs in her first Autumn Budget, a court has heard. The Chancellor’s proposed changes to agricultural property relief (APR) and business property relief (BPR) represent one of the biggest shifts in IHT policy in decades. In the 2024 Autumn Budget, [...]
Brits fleeing Dubai could trigger ‘surprise’ UK tax bills March 16, 2026 British expats returning to the UK from the Middle East over safety concerns as a result of the war in Iran could face “hidden tax costs”. The British expat population in the UAE is among the largest outside the UK, with estimates of 130,000 to 240,000 British nationals living and working in Dubai and Abu [...]
Labour’s inheritance tax reforms face legal test as farmers argue unlawful consultation March 16, 2026 The UK government is set to defend its inheritance tax raid on agricultural assets and family firms in the High Court this week. The proposed changes to agricultural property relief (APR) and business property relief (BPR) represent one of the biggest shifts in UK inheritance tax (IHT) policy in decades. After a year of protests [...]
Legal battle over Labour’s inheritance tax reliefs set for March hearing February 27, 2026 The legal challenge to proposed changes to agricultural property relief (APR) and business property relief (BPR) has been listed for an urgent two-day hearing next month. The proposed changes to APR and the BPR represent one of the biggest shifts in UK IHT policy in decades, following the government’s initial increase of the threshold to [...]
Ask the expert: Should I pay into an ISA, pension or overpay my mortgage? January 28, 2026 Fidelity personal finance specialist Marianna Hunt helps a saver decide where to place their capital as interest rates fall. Q: In light of current interest rate expectations, is it better to pay down my mortgage, pay into my pension or invest in an ISA? I have a £350,000 property with a £200,000 mortgage at 4 [...]
Tax crackdown in 2026: Why experts predict a wave of enforcement actions December 30, 2025 Under the Labour government, HMRC has shifted from a reactive to a highly proactive stance, and tax experts expect increased tax enforcement in the new year. The government has committed to invest an additional £555m annually in HMRC to boost tax compliance and transform its technology. The investment aims to raise an extra £5.1bn in [...]