Latest News

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Scottish parties have been urged to "pick a side" in a debate over Scotland's income tax rates at Holyrood prompted by the Labour Party. Labour's motion comes after First Minister and SNP leader Nicola Sturgeon said she has an "open...
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Liberal Democrat Leader Vince Cable has called for new taxes based on wealth to help fund higher education spending and deter speculative foreign ownership of property during his address to the party's annual conference. Mr Cable, who replaced Tim Farron...
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Graduates aged in their 40s who benefitted from fee-free university education would be among those paying a proposed new graduate tax, devised by two University College London Institute of Education (IOE) academics. The plan would involve all graduates having...
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Concerns that UK pension providers might no longer be able to make pension or insurance payments to residents of other EU countries after Brexit have been expressed by Chair of the Treasury Select Committee Nicky Morgan MP, who has written to Chancellor...
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A new survey on the NHS has indicated that 66% of the public would pay more tax to help fund the health service. The poll by the King's Fund, carried out in conjunction with Ipsos Mori, found that 77% of people wanted to maintain the health service in its...
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The level of investment in Self-Invested Personal Pensions (SIPPs) has risen by 75% in the last year, the Share Centre has said. The company stated the recent trend suggested that customers were recognising the importance of pensions when it came to trading...
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Student tuition fees should be abolished and replaced with a graduate tax, Liberal Democrat leader Sir Vince Cable has said. In an interview with the Evening Standard, he said: "People don’t normally think of their future income tax obligations as...
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Britain could need as many as 5,000 extra staff manning border posts and carrying out tax checks after Brexit, HMRC chief executive Jon Thompson has told the Treasury Select Committee. He also warned that a streamlined system might take between five and seven...
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Online retailers Amazon and eBay have been allowing VAT fraud to take place on their sites without doing anything to stop it - and raking in the profits as a result. Senior officials from the two companies have been interrogated by the House of Commons Public...
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Self-employed people who started trading in the current tax year have been reminded that they have just a few weeks left to register for self-assessment with HM Revenue and Customs. The Low Incomes Tax Reform Group said this will include people operating in...
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The Treasury has confirmed that the Autumn Budget will take place on 22nd November. Chancellor Philip Hammond will be delivering his second Budget of the year after the first in March, when he stated that henceforth the statement would return to being an...
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French bank BNP Paribas has lost a £35 million tax case after a tribunal ruled in favour of HMRC over the use of a tax avoidance scheme using share dividends. The bank had tried a 'dividend stripping' ruse by claiming a contrived loss on the...
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The deal that will see Tata Steel offloading its UK pension scheme has been approved by the Pensions Regulator. The £15 billion scheme was a liability that would have proved an insurmountable stumbling block to the firm's planned merger with German...
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The Treasury is announcing new measures to curb tax avoidance in the second Finance Bill of this year, which also promises to make tax fairer by removing anomalies. Specific plans include new penalties for those who help firms or individuals use tax avoidance...
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The Scottish Conservative Leader Ruth Davidson has warned Scotland's First Minister Nicola Sturgeon's plans to raise income tax in Scotland means that for anyone earning less than £43,000, "she is coming for your pay cheque". Ms...
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Dairy Crest has revealed it is to change the way future employee pension entitlements are uprated each year by switching from the retail price index (RPI) to the consumer price index (CPI). The CPI rate is almost always the lower one, with the most recent...
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Four out of five Britons are unhappy with the amount of money they save for their pensions each month, new research by pension communications firm Pension Geeks has found. The survey revealed 30% of those approaching retirement believe they should have begun...
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Taxes should focus on wealth rather than income in order to help reduce inequality in society, Liberal Democrat leader Vince Cable will argue in a speech to the Resolution Foundation today. In his speech, he will say that inequality is being entrenched...
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A Conservative MP has argued that the party should seek to cut taxes for the under-30s. Writing for the Conservative Home website on the topic of how the party can win more support from younger voters, Stratford-on-Avon MP Nadhim Zahawi advocated cutting the...
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Shadow Chancellor John McDonnell has said he will increase the number of tax inspectors in a bid to reduce the UK's 'tax gap' of £36 billion a year. The figure, which applied to 2014-15, has been revealed by HMRC and Mr McDonnell was quoted...
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HMRC is investigating the financial affairs of around 200 footballers based in England over allegations of tax evasion, according to a report in the Daily Mail. The paper said the list included two Manchester United players, where money paid for image rights...
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People could spend longer in retirement thanks to the deployment of new AI and robot technology, a new report by the Trades Union Congress (TUC) has claimed. A report titled Shaping Our Digital Future argues that the productivity gains that will arise from...
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The average non-domiciled resident in Britain pays £105,000 a year to the Treasury in tax, according to data disclosed by HM Revenue and Customs for the first time. It revealed that this group - who live in Britain but claim overseas residency and thus...
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Sir Philip Green has threatened legal action against Chair of the House of Commons Work and Pensions Committee Frank Field, following comments made by the MP that he had new information about the £363 million settlement paid by the tycoon to settle the...
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A tax expert has drawn up a plan for how the tax system could work in an independent Scotland, which includes a 50% top rate of tax and reducing the personal allowance on the grounds that not to do so would encourage less engagement in politics by those on...