Reeves’ tax raids crush business confidence – but worst is yet to come May 29, 2025 Business confidence plummeted in the three months to May as Rachel Reeves’ tax hikes took hold and firms have warned more pain is to come. Consumer services’ optimism marked its eight consecutive month of decline at -42 per cent, whilst levels of business value plunged to -56 per cent. This was down from -44 per [...]
HMRC review signals potential pension tax changes in Autumn May 28, 2025 Rachel Reeves could target pension savers in fresh tax grab as the Chancellor looks for additional ways to fund the government’s ballooning spending. His Majesty’s Revenue and Customs (HMRC) has published research as part of an official review of workplace retirement schemes, exploring cuts to the tax benefits of salary sacrifice pension schemes. The schemes, [...]
London slips from top smart centre spot May 28, 2025 London has lost its place as the world’s top hub for science and tech innovation after a sobering report warned of the City’s slipping global status. The UK’s capital fell behind San Francisco and Zurich which stormed ahead with a gain of 16 and 6 points respectively. Meanwhile, London’s rating shed three points as it [...]
P60 form deadline is approaching – what you need to know May 23, 2025 Employers are required to issue a P60 form by May 31 – but what is the form actually for, and what happens if your employer misses the deadline? If you’ve been employed for some time, you’ll have heard of a P60, but understanding what it is and why it matters is vital. If you’re an [...]
Seabrook: Crisps brand issues warning over Rachel Reeves’ tax hikes May 22, 2025 The company behind crisps brand Seabrook has warned Chancellor Rachel Reeves’ Autumn Budget tax hikes will have an impact on its bottom line this year. The Cheshire-based UK arm of Japanese giant Calbee pointed to the increase in the National Living Wage and employers’ National Insurance contributions, which came into affect in April, as key [...]
Reeves warned against bank tax raid May 21, 2025 Rachel Reeves has been warned of the growth consequences of upping tax on lenders after a leaked memo from Angela Rayner called for the Chancellor to launch a cash grab on banks. Reeves was sent a memo by the Deputy Prime Minister ahead of the spring Statement, which called for an annual £700m hike on [...]
Reeves must provide ‘more stable’ tax policy, finance bosses say May 20, 2025 Rachel Reeves is facing pressure to provide a “clearer, more stable tax environment,” when she delivers her growth strategy in July. The Chancellor is once again in the spotlight after a damning report from finance bosses indicated the industry was prepped to support growth ambitions, but structural barriers were holding them back. Top players in [...]
Stealth income tax hike will hit millions of over 60s April 16, 2025 Millions more Brits, including a significant percentage of over 60s, will be dragged into paying income tax in the coming months as Rachel Reeves squeezes the spending powers of lower earners with a freeze on tax bands. Official data suggests that around 11m Brits will begin paying the basic rate of income tax by 2028. [...]
Rachel Reeves’ tax hikes will cost me £1m – Hooch tycoon March 31, 2025 The founder of the alcoholic drinks empire behind the likes of Hooch and VK has warned the tax hikes announced by Rachel Reeves will cost him an extra £1m. Steve Perez, the boss of Derbyshire-headquartered Global Brands, added that the Chancellor has “stacked the odds” against businesses like his and that he has “no choice” [...]
Tax paid by companies has nearly doubled in 10 years March 31, 2025 Businesses account for over a quarter of all UK tax receipts, according to new research by Thomson Reuters. Chancellor Rachel Reeves said Labour would become more “pro-business” than previous governments in the run-up to last year’s election. But new data by Thomson Reuters raises questions about the Chancellor’s record in office as companies face an [...]