Inheritance tax hits new record of £7.5bn as debate over reform swirls UK Economy Like many other taxes, the government has frozen the thresholds at which inheritance tax applies, meaning more estates have been pulled into its orbit as asset prices have increased.
New data: UK tax take rising faster than any other rich country UK Economy Although the UK started the century with tax revenue making up a much lower proportion of national income than other advanced economies, the tax burden has rapidly climbed since the pandemic.
Safe as houses: is it time to introduce a wealth tax? UK politics Wages in the UK have flatlined since the financial crisis of 2008. Yet in that time, the country’s richest 1000 families have seen the value of their assets triple. Should we think more seriously—and progressively—about the way we tax wealth?
Public sector pay needs to increase to hold on to top talent, says think tank March 26, 2024 Research from the Institute for Fiscal Studies (IFS), shows that public sector pay at the 75th percentile - for those earning more than three-quarters of public sector workers - is now eight per cent lower in real terms than in 2007.
Spring Budget 2024: Hunt doesn’t rule out May election after £10bn tax cut March 6, 2024 Jeremy Hunt has announced the rate of National Insurance (NI) will be cut by two per cent in the Spring Budget as the government gears up for a rocky general election.
Spring Budget 2024: Hunt to say ‘lower tax means higher growth’ as he slashes NI March 5, 2024 Jeremy Hunt will today unveil a spring budget designed to reverse his party’s lagging polling numbers, headlined by a 2p cut to National Insurance.
Budget: Hunt should prioritise cutting ‘damaging’ stamp duty rather than income tax, IFS says February 27, 2024 Despite the government's parlous fiscal position, with debt at its highest level since the 1960s, Jeremy Hunt is all but certain to unveil tax cuts in the Budget next week.
Hunt says his ‘priority is backing British business’ as he hints at tax cuts November 19, 2023 Jeremy Hunt has hinted that the autumn statement may contain more tax cuts for businesses in a bid to fire up the UK’s economy.
Earning £50,000 a year? Your tax bill is set for a £2,000 hike November 15, 2023 According to research from interactive investor, people earning £50,000 a year will pay an additional £1,967 by 2027 compared to if the tax thresholds had risen in line with inflation.
Calls to cut taxes show ‘questionable judgement’, economists warn August 23, 2023 Economists have warned that calls from Conservative MPs for Chancellor Jeremy Hunt to cut taxes after improved borrowing data emerged show “questionable judgement”. Three backbench Conservatives piled the pressure on, according to the Financial Times, with calls for “personal tax reductions” to “stimulate the economy”. The pleas came after figures from the Office for National [...]