Inheritance tax receipts hit record high ahead of expected Budget reforms October 22, 2024 The government raked in £4.3bn from inheritance tax in the six months to September, a nine per cent rise on the same period last year, as Rachel Reeves lines up reforms to the unpopular tax in her Budget next week. According to figures released by HMRC on Tuesday, the Exchequer received £736m from inheritance tax [...]
Borrowing beats expectations as Rachel Reeves prepares tax rises October 22, 2024 The borrowing figures are merely the latest indication of the challenging fiscal position which the new government has inherited as the Budget approaches.
A warning to Reeves: These tax rises will damage UK competitiveness October 22, 2024 Not only is the UK tax burden at record levels, but we are raising money in a more damaging way than our competitors. And the Budget could be about to make things even worse, says Daniel Herring Next week, Rachel Reeves needs to try not to make the UK’s tax system worse. Yesterday the US-based [...]
Reeves tax raid ‘risks harming UK economy’, top business groups warn October 21, 2024 Some of the country’s top business groups have warned that Rachel Reeves’s rumoured plans to ditch a slew of tax breaks for entrepreneurs at the budget “risk harming” the economy and dissuading founders from setting up companies in Britain. In an open letter to the Chancellor today, four business groups representing over 1200 UK founders and investors, [...]
Labour must pull back from the brink and support the UK’s founders October 21, 2024 With half term holidays upon us, Portugal is a safe bet for a bit of winter sun. The forecast for Lisbon this week is 24 degrees and sunny, whereas London is set to be much cooler with rain sweeping in by Friday. Things may get even gloomier when the Chancellor unveils her Budget next week. [...]
Retail sales rise unexpectedly despite Budget tax fears October 18, 2024 Retail sales came in ahead of expectations.
Government set to bring buy-now pay-later firms under FCA regulation October 17, 2024 The Treasury is set to unveil its plans for buy-now pay-later rules tomorrow in a move that could end years of uncertainty surrounding the regulation of the sector, City AM has learned.
Let’s be honest… feel-good campaigns are ruining Britain October 17, 2024 Every government promises to cut red tape but ends up adding more. The only way to break the cycle is to stop listening to nice sounding arguments, says Matthew Lesh Google’s CEO Eric Schmidt did not mince words at this week’s International Investment Summit. “Maybe you need a minister of anti-regulation?” Schmidt said to Prime [...]
When it comes to national insurance, the government is pulling a fast one October 16, 2024 One of the many problems the government has got itself into over tax rises that may or may not appear in the upcoming Budget is an oversimplification of where the cost of a certain tax falls. Ministers and their supporters talk about Capital Gains Tax as if it only lands on rich people selling off [...]
Starmer hands councils millions for housebuilding on brownfield sites October 15, 2024 The Government has committed £68m to unlocking brownfield sites in 54 local authorities as it looks to deliver on its election promise of 1.5 million homes by 2029. Around a sixth of councils will receive money to turn neglected land into new homes, which the government have said will “transform local communities and help families [...]