By: Ali Lyon

chief reporter Ali Lyon is the chief reporter at City AM, responsible for covering the full gamut of business, finance and wealth news. He has been at City AM full-time since July 2024. Get in touch with tips via email: ali.lyon@cityam.com. Follow Ali on X: @alilyon_94

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Rachel Reeves’ carry tax hikes are sensible, says private equity boss

October 24, 2024

Rachel Reeves’ plans to tax private equity partners more onerously are sensible and concerns about them triggering an exodus of dealmakers from London have been overdone, a private equity boss has said. Rami Cassis, chief executive and founder of private equity boutique Parabellum, threw his weight behind the chancellor’s plans to bring carried interest – [...]
Autumn Budget: Company directors race to dump shares ahead of tax raid

October 24, 2024

Fresh analysis has found company directors of listed companies are racing to sell shares ahead of a widely anticipated capital gains tax raid in next week’s Autumn Budget. Between 1 September and 22 October, the value of sell and buy transactions in directors of UK-listed companies in their own firm’s shares was £345.5m and £63m [...]
Co-op boss: Reform broken business rates system at Budget

October 23, 2024

The current business rates system is “fundamentally broken” and is in need of urgent reform at the Budget, the chief executive of the Co-op has warned in an interview in which she also endorsed Labour’s contentious workers’ rights package. Shirine Khoury-Haq told the Today Programme that business rates were one of the driving forces behind [...]
Non-dom lobby group to meet Business and Trade officials as Budget looms

October 23, 2024

A newly formed non-dom lobby group is scrambling to arrange a crunch meeting with the new Minister for Investment, or her officials, as it seeks to make its case against the government’s plans to scrap the favourable tax status. City AM understands that Foreign Investors for Britain (FIFB) has been in contact with the newly appointed [...]
Inheritance tax receipts hit record high ahead of expected Budget reforms

October 22, 2024

The government raked in £4.3bn from inheritance tax in the six months to September, a nine per cent rise on the same period last year, as Rachel Reeves lines up reforms to the unpopular tax in her Budget next week. According to figures released by HMRC on Tuesday, the Exchequer received £736m from inheritance tax [...]
Autumn Budget: Which taxes will Rachel Reeves hike?

October 22, 2024

With the Autumn Budget set to be delivered in just a few days, speculation about which taxes Chancellor Rachel Reeves will opt to raise has reached fever pitch. On entering No 11 Downing Street, Reeves commissioned the Treasury to conduct a thorough spending audit, which she claimed unearthed a “fiscal black hole” of £22bn, paving [...]
Desperate rich Brits seeking homes abroad in record numbers, say estate agents

October 21, 2024

Super-rich Brits are looking at properties in popular expat destinations in record numbers, several leading estate agents have told City AM, as they prepare to flee “in desperation” from any punitive measures introduced at next week’s Budget. Enquiries to luxury property specialist Christies International Real Estate Dubai have trebled in recent months, one agent said, [...]
Non-dom exodus could cost UK 23,000 jobs, disputed report claims

October 18, 2024

Scrapping the non-dom tax regime could cost the UK £6.5bn and 23,000 jobs in the next ten years, a think tank has claimed in a report whose findings were questioned by leading academics. The study, published by free market think tank the Adam Smith Institute (ASI), suggests that abolishing the special status for wealthy foreigners [...]
‘Broken’ inheritance tax ripe for reform at Budget, think tank says

October 17, 2024

The government must reform the UK’s “broken inheritance tax system”, a respected think tank has urged, after fresh research found uncapped exemptions in the current framework means a quarter of estates worth over £10m pay a rate of just nine per cent. The Centre for Analysis of Taxation (CenTax) paper, published on Thursday, revealed the [...]
Tiered tax regime could stop non-dom exodus, lobby group argues

October 16, 2024

A controversial ‘Tiered Tax Regime’ (TTR) charging wealthy foreign nationals a flat rate of tax based on their net wealth would make the UK a more attractive proposition to high net worth individuals and help stem the departure of non-doms, a fresh study has argued. Under the proposal, which the authors claim has the overwhelming [...]

Healey rejects calls to equalise capital gains and income tax rates

Formula 1 set for Africa return after 40 years with Rwanda race

AI film Artificial is the talking point of 2026. Here’s why

By: Ali Lyon

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