Keir Starmer refuses to rule out income tax raid at the Budget October 29, 2025 Keir Starmer dodged questions on whether Labour would raise income tax, VAT or national insurance, the clearest sign yet that the government is looking at breaking key party manifesto commitments on taxes. During Prime Minister’s Questions on Wednesday, Kemi Badenoch grilled Starmer on whether Rachel Reeves was laying the groundwork for an income tax raid [...]
Top court sides with HMRC as NHS hospitals liable for VAT on parking fees October 29, 2025 HMRC brought a case against a branch of NHS hospitals to the Supreme Court over whether VAT should have been charged on hospital car parking fees, and they’ve succeeded. Today marks the end of a five-year legal battle through each court stage over VAT on parking tickets used by patients, visitors, and hospital staff at [...]
Firms brace for ‘difficult winter’ as tax burden weighs on activity October 29, 2025 Companies across the private sector are braced for a “difficult” winter as activity is forecast to downturn across UK services due to mounting tax fears, fresh research has indicated. A leading survey by the Confederation of British Industry (CBI), considered to be one of the UK’s most influential business groups, has suggested that private sector [...]
Autumn Budget: Reeves must avoid tax encore for retail, HMV boss warns October 29, 2025 Ahead of the Autumn Budget, City Reporter Samuel Norman sits down with top industry names for a Budget Briefing. This week, chief executive of HMV joins a chorus of warnings to give the retail sector some reprieve. As high street music retailer HMV breezes into the all-important golden quarter, boss Phillip Halliday is eyeing a chart-topper [...]
Lawyers to rethink personal tax structures as Reeves set to target LLPs October 28, 2025 Chancellor Rachel Reeves’s proposed tax raid on LLPs may force partners to work longer or reconsider their retirement plans, with significant financial implications for many professionals. It was reported last week that Reeves is targeting limited liability partnerships (LLPs) in a tax raid as she tries to fill a fiscal black hole. The proposed 15 [...]
HSBC shares rise as Georges Elhedery’s pivot East beats the noise October 28, 2025 HSBC’s pass through the third quarter was almost identical to the second. Despite another hefty hit to the firm’s bottom line, chief executive Georges Elhedery has quietly and effectively pushed ahead with his bold overhaul of the group. For the three months to September 30, HSBC took a 14 per cent profit beat falling to [...]
Wealthy Brits are failing to notice that they will be hit by IHT changes October 28, 2025 Many high net worth Brits are unaware that their pensions will soon be liable for inheritance tax, leaving families exposed to significantly higher levels of tax. Nearly 20 per cent of high net worth individuals (HNW) aged 55 and over reported having no knowledge that their unused private pension pot will fall under the scope [...]
Rachel Reeves set for £20bn OBR productivity downgrade October 28, 2025 Rachel Reeves’ ballooning fiscal black hole is set to deepen as the fiscal watchdog hands the Chancellor its final productivity forecast on Friday. The Treasury is already battling to contain public finances after a U-turn on welfare reforms ruined hopes of £5bn in savings, and a £190bn spending splurge on government departments helped erode the Chancellor’s wafer-thin [...]
Business rates burden to disproportionately hit London offices October 28, 2025 The upcoming change in how business rates are calculated will affect far more office-based firms in London than elsewhere and may cause a rise in closures, according to a new report. The business tax reforms, scheduled for next April, will introduce a higher rate of payment for properties worth over £500,000. The new multiplier for [...]
Rachel Reeves alerts top investors on tax rises and spending cuts October 27, 2025 Chancellor Rachel Reeves has sent a message to international investors on incoming tax hikes and spending cuts in an effort to ease market nerves ahead of this year’s Budget. Speaking at the Future Investment Initiative – or ‘Davos in the Desert’ – in Riyadh, Saudi Arabia, Reeves prepared investors for a more difficult Budget next [...]