Government opens probe into leak of Healey’s Budget bank tax hike Banking The government has launched a probe into a potential Budget leak that sent shares in Britain’s banking giants soaring. The Treasury committee of MPs said a leak inquiry is underway after news of John Healey’s decision to double the UK banking surcharge emerged in the press hours before the Chancellor delivered his Budget. The Cabinet [...]
Budget changes could see footballers taxed extra £45m per year Sport Business Football players and clubs will be forced to pay an additional £45m per year in tax following changes to image rights announced at the Budget. Chancellor John Healey confirmed last month that “the government will clarify that image rights payments related to an employment are taxable as employment income and taxed in the same way [...]
Take it from a tax adviser for the ultra wealthy, this Budget did damage Opinion Burnham's "thinly spread" Budget was far from harmless for Britain's wealth creators, writes Jamie Morrison.
HMRC ‘flying blind’ on over 1.2m tax demands after failing to track error rates November 9, 2026 HMRC has been accused of “flying blind” on over 1.2m tax demands after admitting it does not track how many are challenged or cancelled due to errors. The tax authority issued 1,254,201 individual PA302 simple assessment tax calculations in the 2024/25 tax year, according to figures obtained by City AM via a Freedom of Information [...]
UK’s wealthiest financier Michael Platt sues own lawyer for professional negligence November 6, 2026 The UK’s wealthiest financier, Michael Platt, and his hedge fund are suing their former lawyer for alleged professional negligence and preparing for a trial. The claim was filed in September last year against Malcolm Gammie KC, a barrister at One Essex Court, following the billionaire and his firm being in a long-running dispute with HMRC [...]
HMRC bank account raid powers spark concern over burden of proof November 6, 2026 HMRC’s upcoming new powers, which allow it to recover tax debts directly from bank accounts, raises questions about how the taxman calculates debt. The new powers, unveiled by Chancellor John Healey in the Budget, effective from July 2029, will allow HMRC to automatically deduct debts from holders who fail to engage with the taxman despite being able [...]
OBR warns Healey: Stealth taxes to blame for living standards slump November 4, 2026 Stealth taxes are one of three main reasons that British households are set to suffer near-stagnant disposable income growth in the current decade, the government’s budget watchdog has said. Office for Budget Responsibility chief Professor David Miles said that fiscal drag, whereby a freeze on income thresholds pulled more people into higher tax rates as [...]
‘Punishing’ Autumn Budget tax trap set to deal further blow to HENRYs November 4, 2026 Thousands of UK workers are set to face an effective 64 per cent tax rate on their cash savings under a fresh tax raid launched by John Healey in his maiden Budget. The Chancellor confirmed he will hike taxes on savings by a further two per cent in April 2027, taking the rate to 44 [...]
Employees in partner’s clothing? HMRC in ‘aggressive pursuit’ of LLPs November 4, 2026 HMRC is actively writing to limited liability partnerships (LLPs) as firms race to reassess their members’ tax status after the landmark legal ruling, even as both sides “hold their cards close to their chests.” Members of an LLP are treated as self-employed partners, meaning they don’t pay the 15 per cent employer’s national insurance contributions [...]
If Labour wants risk-takers, why is it cutting incentives? November 4, 2026 Labour claims it wants Britain to be the best place in the world to run a business, but its actions hardly match the ambition.