UK banks brace for Budget tax raid despite lobbying efforts October 21, 2024 UK banks are bracing for a tax raid in Labour's maiden Budget as new analysis reveals the sector is already paying a significantly higher rate than counterparts in the US and EU.
Sir Rocco Forte leads 300 business leaders in call to scrap ‘spectacular own goal’ tourist tax October 21, 2024 Over 300 business leaders have signed a letter asking Chancellor Rachel Reeves to reinstate tax-free shopping in the UK, calling the so-called tourist tax a “spectacular own goal” for retail. The signatories, which include hotelier Sir Rocco Forte, Paul Smith, Heathrow, John Lewis and Shakespeare’s Globe, have said that if Reeves is serious about promoting [...]
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. [...]
A Budget for tax simplification would make Britain a better place for business October 21, 2024 There’s more to competitiveness than headline rates, Rachel Reeves should use the Autumn Budget to make taxes simpler and rules easier to comply with, says Colin Graham Chancellor Rachel Reeves has been clear that the current state of government finances will only improve with economic growth. For this to work, there will need to be [...]
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 [...]
St James’s Place: Analysts back UK’s largest wealth manager October 18, 2024 By the end of the quarter, funds under management had swelled to £184.4bn, up from £181.9bn the quarter before and also ahead of consensus.
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.