UK tax gap increases by 21% in past 10 years, finds RIFT
As part of the Spring Statement, the Government announced plans to reduce the UK’s tax gap in order to raise around £7.5bn in national revenue.
SMEs call for tax cuts to revive stagnant economy
Research from Shawbrook showed that over a third of SME leaders believed tax breaks for reinvestment (36%) would provide a boost to their businesses.
Charities warn NICs hike will force essential services for older people to close
Age UK has warned that increased employer NICs will cost local Age UK charities £6.27m annually, forcing staff cuts and service closures for vulnerable older people.
Liberal Democrats call GDP growth “pitiful” and demand action on jobs tax and trade
Daisy Cooper MP has criticised the Chancellor's economic policies, labelling 0.1% GDP growth in November as "pitiful" and urging the government to abandon its "jobs tax" and adopt a genuine growth strategy.
Employers to face a sharp rise in tax bills for low-wage workers in 2025
Employers hiring minimum wage workers will see a significant increase in tax costs in 2025, with research from the Centre for Policy Studies highlighting a 60% rise in employer’s National Insurance contributions compared to 2024.
HMRC repays £44.3m in overpaid pension tax during Q3, experts call for reform
This issue has persisted since pension flexibilities were introduced.
Tax simplification should top Chancellor’s agenda, says Hargreaves Lansdown
Hargreaves Lansdown urges Chancellor Rachel Reeves to prioritise tax simplification and avoid further complexities in the tax system.
Greens propose wealth tax raid alongside NI hike and pension tax relief overhaul
The Green Party proposes major tax reforms, including equalising CGT and dividend tax, increasing National Insurance, and overhauling pension tax relief, impacting investors, business owners, and workers.
Nearly 300,000 file self assessment returns in first week of new tax year
Almost 300,000 taxpayers filed their self assessment tax returns in the first week of the new tax year, taking advantage of the benefits of early filing, as HMRC encourages more to follow suit to avoid end-of-year rush and manage financial planning better
UK freelancers face challenges amid economic instability and IR35 changes
Economic challenges and IR35 regulations have dampened the confidence of UK freelancers, with a significant number exploring full-time employment options as business opportunities slow down.
Football pundit faces £210,000 tax bill after IR35 appeal dismissed
Former footballer Neil McCann incurs a £210,000 tax bill after his IR35 appeal is dismissed.
