Not just non-doms: Wealthy workers considering leaving the UK to beat tax hikes May 8, 2025 With the mass exodus of non-doms leaving the UK following a political crackdown, a lawyer warns that this feeling is spreading among non non-doms.
Terry Smith: Reeves must drop tax hikes to attract UK investment May 6, 2025 Star fund manager Terry Smith has called on Chancellor Rachel Reeves to cancel her tax hikes to make investment in the UK more attractive. Smith, who runs the £20bn Fundsmith Equity fund, argued that to boost the quality of UK companies the government should “reverse a lot of the policies that are in place with [...]
Non-dom exodus could cost the Treasury £12.2bn May 6, 2025 Chancellor Rachel Reeves’ decision to remove tax exemptions for non-doms could lead to “billions” in losses from the public purse, new research has suggested, in a blow to the Treasury’s fiscal plans. Reeves followed through with manifesto pledges by removing tax exemptions from mega-rich non-domiciled individuals at last year’s Autumn Budget, something the Office for [...]
CMA chair: ‘The UK desperately needs economic growth’ April 30, 2025 The CMA is evolving but we will always stick firmly to the fundamentals: Protecting UK consumers and promoting competition, says new chair Doug Gurr Today I’m speaking to my fellow chairs at a summit of the UK major regulators. It’s a privilege to be part of the deep collective experience and commitment of that group [...]
UK businesses warn of financial strain ahead of digital tax rules April 29, 2025 A majority of UK small business owners are concerned about the financial and operational pressures of HMRC’s upcoming ‘making tax digital‘ (MTD) reforms to income tax. MTD for income tax, set to take effect from April 2026, will require self-employed individuals and landlords earnings over £50,000 to maintain digital records and submit quarterly updates using [...]
High-tax Britain is losing the race for global talent April 29, 2025 High taxes, fiscal drag and the cost of living mean London is no longer the destination of choice for skilled employees – and competitors like the Basque Country are feeling the benefits, says Ivan Jimenez I’m a proud native of the Basque Country in northern Spain, but having spent a lot of time in the [...]
Welcome to the shape-shifting world of big tech taxes April 29, 2025 Axing the Digital Services Tax may be the price Britain pays for a trade deal with the US, but that doesn’t mean we’ve seen the back of tech taxes, says Tim Sarson Just a few days ago, Rachel Reeves was strolling in, to paraphrase Flanders and Swan, the geopolitical zoo that is Washington DC, attempting [...]
Fiscal drag pulls nearly 2 million into higher tax bracket April 28, 2025 Income tax thresholds, frozen in 2021, have pulled nearly two million Brits into higher brackets as fiscal drag bites. The number of higher rate taxpayers has increased by 1.88m, from 4.43, to 6.31m, between 2021 and 2025, according to finance specialists Rift. “Rising income taxes have been particularly punitive in recent years, as inflation reached [...]
EY: Two years of slow UK growth means ‘increased chances’ of tax rises April 28, 2025 Rachel Reeves may have to resort to reversing Labour manifesto tax pledges as UK growth fails to exceed one per cent for two years running, EY ITEM Club have said, in the latest blow to the chancellor’s fiscal plans The Chancellor has been warned by several forecasters that President Trump’s tariffs will hammer the UK [...]
Which taxes hurt growth the most? April 24, 2025 No business enjoys paying taxes. The knock to a company’s bottom line, as well as the costs of compliance with a sprawling regulatory regime, can leave execs foaming at the mouth. But some taxes are more damaging to growth than others. And, according to fresh research, some have virtually no negative economic impact at all. [...]