Rachel Reeves could borrow £80bn over next five years, lenders say October 20, 2024 Rachel Reeves could borrow an extra £80bn to fund the government's ambitious spending plans for infrastructure and green energy, according to lenders.
UK faces ‘make or break moment’ in Budget as Swinney calls for spending October 20, 2024 Scotland’s First Minister will use a speech on Monday to urge the Chancellor to increase spending, as he said the Budget presents a “make or break moment” for the UK. Rachel Reeves will present the new Labour Government’s tax and spending plans on October 30, as she seeks to close a £40bn gap in the [...]
Reeves to hike tax on UK founders looking to sell October 19, 2024 Chancellor Rachel Reeves is reportedly plotting to hike taxes for entrepreneurs selling their businesses as part of her strategy to plug a £40bn fiscal “black hole”. In her upcoming Budget, Reeves is considering cutting a policy known as the business asset disposal relief, according to Bloomberg. The tax relief currently allows entrepreneurs to pay a [...]
Inflation, interest rates and tax: What happened in the economy this week? October 18, 2024 The health of the UK economy is attracting more and more attention as the Budget draws nearer, and there was plenty for commentators to digest this week. Here’s a brief recap: What to make of this week’s news? First, the danger of inflationary persistence seems to be diminishing, with noticeable progress on both wage growth [...]
Monthly UK insolvencies remain stubbornly high ahead of Budget October 18, 2024 The release noted that monthly insolvency numbers so far in 2024 have been similar to 2023, which saw the highest annual number of insolvencies since 1993.
Autumn Budget: Chancellor Rachel Reeves preparing inheritance tax raid October 18, 2024 Currently there is a 40 per cent flat rate on inheritance tax which applies on any estate worth more than £325,000.
Retail sales rise unexpectedly despite Budget tax fears October 18, 2024 Retail sales came in ahead of expectations.
Why investors are switching from bullion bars to coins amid Budget capital gains tax fears October 17, 2024 The sale of bullion bars has suffered a sharp drop amid fears Chancellor Rachel Reeves could hike capital gains tax in the Budget later this month. The Royal Mint has revealed sales of bullion bars, which are subject to capital gains tax, fell by 11 per cent year on year in the three months to [...]
Capital gains hike would not damage entrepreneurship, IPPR argues October 17, 2024 Rates of capital gains tax differ depending on the asset but are well below income tax rates, largely in an attempt to encourage innovation and risk-taking.
An unexpected side effect of non-dom rule changes? Divorce October 17, 2024 Much has been said on the financial implications of non-doms leaving the country due to punitive taxes, but less attentions has been paid to the personal and family consequences of such moves, says Cara Nutall Prime Minister Keir Starmer has stated that “painful” decisions are unavoidable to repair the UK’s economic damage and has asked [...]