HMRC to cash in on hiked Wimbledon prize money June 22, 2025 The increase in prize money at Wimbledon this year has been described as a win for HMRC by a top tax advisory firm. Winners of the men’s and women’s singles titles will each bag themselves £3m at this year’s Wimbledon Championships, a figure up on last year’s sum. Even first round losers will earn £66,000 [...]
Upper Tax Tribunal dismisses JP Morgan Chase Bank VAT appeal June 20, 2025 Upper Tribunal judges have kicked out US banking giant JP Morgan Chase's appeal against HMRC's position on taxing intra-group services.
Government borrowing surges in May to fund Labour’s spending June 20, 2025 Government borrowing in May surged to £17.7bn, official data has shown, reflecting the government’s need for cash to fund Labour’s spending splurge. This represented the second-highest May borrowing figure since records began more than 30 years ago and higher than the Office for Budget Responsibility (OBR) forecast. Fresh data published by the Office for National [...]
St James’ Place: Labour’s dividend tax plans could backfire June 18, 2025 Any attempt to get more cash through increasing the top rate of tax on dividends may backfire and instead dry up revenue streams, Chancellor Reeves has been warned, as investors look to this year’s Autumn Budget with a sense of dread. Reeves is poised to hike taxes later this year by as much as £20bn [...]
Spending Review: IFS chief suggests Treasury ‘making up numbers’ over DOGE-style Whitehall cuts June 12, 2025 The Ministry of Defence and Department for Health and Social Care are slated to see billions cut in Whitehall budgets in what a DOGE-style body within the Treasury described as “efficiency gains” – despite both departments set to see a real terms increase in spending between 2026 and 2029. A new government document has revealed [...]
What changes to the pension salary sacrifice scheme could mean for you? June 11, 2025 A new report from HMRC has raised concerns around changes to the pension salary sacrifice scheme. A report on workplace pensions by HMRC has fuelled speculation around changes to salary sacrifice schemes. The report looked into employers’ behaviours and attitudes on salary sacrifices and looked into how potential reforms to tax reliefs could change these. [...]
Exclusive: Coinbase to ‘hire like crazy’ in the UK June 11, 2025 Coinbase is ramping up its UK presence with plans to hire more staff and deepen investment, as the country moves towards a new era of crypto regulation and increasing mainstream adoption. “We’re going to be hiring like crazy in the UK”, Coinbase’s UK lead Keith Grose told City AM, before adding that London will continue [...]
Isuzu D-Max V-Cross review: The tough truck with a soft side June 10, 2025 Isuzu had its best year to date for new vehicle sales in 2024, with more than 6,500 examples of the D-Max pickup finding homes in the UK. However, the Japanese marque could face a tougher challenge in future, thanks to changes to how double cab pickup trucks are treated by HMRC. The changes make double [...]
Winter fuel U-turn could lead to ‘unfair’ and ‘complex’ tax system June 9, 2025 Treasury calculations on savings made from a means-tested winter fuel payment for nine million pensioners may be significantly reduced due to a “new complexity in the tax system”, an economics think tank has warned. The government has claimed that £1.25bn budgeting for winter fuel payments represents a cost reduction of up to £450m compared to [...]
Labour to give HMRC £500m for AI boost June 9, 2025 The British tax agency, HMRC, is set to receive £500m in funding, which will see the introduction of an AI tool to assist the public with enquiries