Rishi Sunak shoots down speculation he will raise capital gains tax July 15, 2020 Rishi Sunak has distanced himself from reports that he is looking at increasing capital gains tax to help pay for the government’s Covid-19 spending. The Treasury announced yesterday it was commissioning the Tax Simplification Office to conduct a study “asking for “evidence to seek views about capital gains tax”, prompting speculation from financial services firms [...]
UK shareholders face 60 per cent ‘wealth grab’ under Labour, warns City heavyweight Lord Lee November 30, 2022 Shareholders face a 60 per cent raid on profits under Labour, City veteran and senior private investor Lord Lee of Trafford warned this morning. Capital gains tax on shares sold outside an ISA is currently charged at 10 per cent or 20 per cent depending on your income tax band. But the Liberal Democrat peer [...]
Tax vote in 2016 saved Sunak £300k: Number 10 insists PM backed it ‘in national, not personal interest’ March 24, 2023 Downing Street has insisted Government decisions are made “in the national interest, rather than personal interest”, after reports that Rishi Sunak saved more than £300,000 due to a cut in capital gains tax he voted for in 2016. The Prime Minister released a summary of his tax affairs on Wednesday, showing that he had paid [...]
Rishi Sunak earned £2.2m and paid £508,000 in tax, documents show February 10, 2024 Rishi Sunak has published his tax documents, showing that he paid more than £500,000 in UK tax last year, as his total income rose to £2.2m.
The taxing questions over your crypto assets October 24, 2022 As HMRC continues to update its guidance on the taxation of crypto assets, CMS Law explains the current state of play.
No new taxes: Labour’s Reeves pledges not to increase CGT limit March 30, 2023 Labour does not plan to increase capital gains tax, shadow chancellor Rachel Reeves has indicated, despite deputy leader Angela Rayner appearing to suggest rates were too low. Prime Minister Rishi Sunak last week released a summary of his tax affairs, which showed that his tax rate was about 22 per cent because most of his [...]
Exclusive: Government oblivious to scale of crypto tax-dodging despite ‘global hub’ plans November 23, 2022 The government has made no calculations on the amount of dodged tax takings on cryptoassets despite the Treasury’s plans to turn the UK into a hub for crypto, City A.M. has learned.
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 [...]
Back in the game: Venture Capital Trust to raise after Chancellor’s stay of execution January 25, 2024 A venture capital trust (VCT) is set to launch a £50m fundraise on the London Stock Exchange next month in one of the first major moves since Jeremy Hunt delayed a phase-out
Safe as houses: is it time to introduce a wealth tax? March 30, 2024 Wages in the UK have flatlined since the financial crisis of 2008. Yet in that time, the country’s richest 1000 families have seen the value of their assets triple. Should we think more seriously—and progressively—about the way we tax wealth?