Capital gains tax could be hiked to almost 40 per cent October 10, 2024 Capital gains tax could be hiked by Chancellor Rachel Reeves to almost 40 per cent in the Budget, according to reports. The Guardian has reported that the Treasury is modelling a range of between 33 per cent to 39 per cent. Around 350,000 people pay the wealth tax with is levied on the sale of [...]
Tory leadership: End race early so victor can respond to Budget, says Jenrick October 10, 2024 Robert Jenrick has called for the Tory leadership race to end early so that the winner can be in place to respond to Rachel Reeves’ first Budget. The Chancellor will deliver Labour’s first fiscal statement on 30 October, and the leadership hopeful has argued for a speedier end to the race ahead of the major [...]
Mark Kleinman: Will Reeves step back from a Hallowe’en nightmare? October 10, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the City talking in his weekly City AM column.
Taxes might have to go up by £25bn in Budget, IFS says October 10, 2024 Rachel Reeves may have to raise taxes by £25bn in the Budget if she wants to improve the delivery of public services, the influential Institute for Fiscal Studies (IFS) said today. Although the Chancellor looks set to reform the fiscal rules to enable more borrowing for investment, Reeves has committed to meet day-to-day spending out [...]
Top UK bankers warn prospect of windfall tax is spooking investors October 9, 2024 Top bankers have warned that tough regulation and high taxes are denting investment in Britain’s financial services sector ahead of Labour's much-anticipated Budget on 30 October.
This is how much sixty of the UK’s wealthiest people paid in income tax October 9, 2024 The figures, which were revealed thanks to a freedom of information request, demonstrate the large contribution made by the UK's richest individuals.
Keir Starmer refuses to rule out hike to employer national insurance October 9, 2024 “Increasing employer NICs would mean breaking a Labour manifesto promise, and small businesses would be rightfully outraged," Craig Beaumont, executive director at the Federation of Small Businesses (FSB) said.
NHS pension tax grab could see ‘return to strikes’, government warned October 9, 2024 Plans to reduce the tax-free lump sum savers can withdraw from their pension could see NHS workers mount a “return to pay unrest and strikes”, the government has been warned. Chancellor Rachel Reeves is reportedly mulling plans to cap withdrawals at £100,000 in the Budget on 30 October in a bid to shore up the [...]
Pensioner pessimism drags on consumer confidence ahead of Budget October 9, 2024 Just one in six consumers think that the economy will improve over the next year while half think it will get worse, according to Which?
Businesses ‘cautious’ about the future as tax fears dominate, survey shows October 9, 2024 This was the first time in a year that business confidence had decreased, although the ICAEW noted that confidence was still double the pre-pandemic average.