Audible: UK’s love for original content helps double profit October 3, 2024 Profit at the UK arm of audiobook and podcast giant Audible, which is owned by Amazon, doubled during its latest financial year, it has been revealed. The London-headquartered division has posted a pre-tax profit of £29m for 2023, up from the £14.7m it achieved in 2022. Newly-filed accounts with Companies House also show that Audible’s UK turnover [...]
Is Rachel Reeves planning a £24bn pension tax raid? October 1, 2024 It has been reported that the Treasury is considering what could amount to a £24bn pension tax raid as Rachel Reeves tries to plug her £22bn budget black hole. The Chancellor has reportedly been looking at tax relief on pension contributions, specifically, employers’ national insurance relief. There are two forms of national insurance. Employees, paid [...]
Badenoch and Tugendhat flash low tax credentials September 30, 2024 Kemi Badenoch has said she would “love to see lower corporation tax” and stressed the need to “increase the appetite for risk taking” in a bid to go for growth. The former business secretary’s comments came during a leadership Q&A session for party members at the annual Conservative Party conference in Birmingham. She told the [...]
Tax burden ‘will not fall in my lifetime’ warns IFS chief September 30, 2024 Over recent years the tax burden has climbed to a post-war high of 37 per cent of national income despite the attempts of the previous government to cut taxes.
Tech and taxes: What do SMEs want to see in the upcoming Budget? September 30, 2024 Small businesses have called on the government to prioritise growth in the upcoming Autumn Budget in order to avoid a slowdown of growth.
Demand for luxury city houses falls on pre-budget caution September 30, 2024 Fears over potential changes to tax policy in Labour’s upcoming budget have continued to dampen the positive effects of lower interest rates on demand for prime property in London, according to new data. Buyers are nervously awaiting potential tax changes in the Government’s first budget, which has been described as assigning a “heavier burden” to [...]
Labour looks to water down packaging tax plan September 29, 2024 Ministers are set to make changes to a planned £1bn packaging tax proposed by the last government, according to reports.
City sounds alarm over fears that non-dom reforms won’t raise money September 27, 2024 Leading city figures have urged the government to adapt its planned reforms to the non-dom tax regime, after it was revealed that Treasury officials are concerned that the reforms may not raise any money. Labour has promised to scrap the non-domicile (non-dom) regime – a tax status that allows wealthy foreign nationals only to pay [...]
Pay tax on your gifts, top accountancy firm warns politicians amid Labour row September 26, 2024 Politicians should pay tax on gifts in the same way that other industries and individuals do, a leading accountant has said. Currently, firms and workers in sectors where gifting is commonplace and an element of their profession – such as the media industry or online influencers – are made pay to income tax and, in [...]
The Debate: What to do with inheritance tax? September 26, 2024 Inheritance tax, sometimes dubbed ‘Britain’s most hated tax’, currently stands at 40 per cent and is paid on estates worth over £325,000, although there are a range of exemptions which mean only five per cent of deaths are taxed and often at a much lower effective rate. As the Chancellor prepares to review taxes in [...]