Guernsey’s only established political party Forward Guernsey has issued a statement which confirmed its three elected members, deputies Gavin St Pier, Rhona Humphreys and Tom Rylatt, would support the tax reform package. The statement read: “We are committed to supporting tax reform that better protected lower and middle-income households, broadened Guernsey’s tax base and struck
Ryan Padget, President of IGEN. Ryan helps CFOs transform excise tax compliance from a back-office cost into a financial control advantage. When finance leaders think about excise tax, the conversation often starts and ends with the tax team being a cost center that files the returns, meets the deadlines and avoids penalties. That framing is
You will receive a P800 letter in the post if you are on PAYE and you have overpaid or underpaid tax for the 2025/26 tax year You may be due a P800 tax letter in the post(Image: Getty) HMRC has urged millions of people to keep an eye out for an important tax letter this
Many people could be missing out on a valuable inheritance tax (IHT) exemption because they don’t realise it exists. New research found that seven in 10 UK adults are unaware that regular gifts made from surplus income can be exempt from inheritance tax. The survey, by insurer Canada Life, also found that three in 10
The proposal was first announced by the then Finance Secretary Shona Robison in her budget in January. But at the time the government did not know how much the tax would raise as the measure was not included in the financial modelling. According to the consultation paper, the new bands are estimated to raise between
Ed Wood, of Rathbones, added: “[Raising CGT rates] won’t raise tax revenue – increasing the rate doesn’t guarantee this. People will simply hold on to assets until the policy changes.” Rob Lewis, of Celtic Financial Planning, said: “Corporate investors are sitting on their hands, waiting for clarity [on policy] to invest. That’s a problem for
I just opened a self-invested personal pension (Sipp), which required an initial investment of £500. I was surprised when tax relief was added by the pension provider, as I’m a non-taxpayer. Will I have to pay this back to HMRC? Kevin from Liverpool Get expert help with your money questions ‘Even non-taxpayers get rewarded for saving
Calls are growing for Andy Burnham to commit to a tax shake-up which, backers claim, could save 18 million households an average of more than £550 a year. The current council tax system is seen as deeply flawed, and can mean someone living in a £150,000 terraced house in Middlesborough pays the same as the
Mr Burnham has signalled that he wants to change business rates so that warehouses pay more than high street shops. He has also backed the idea of a land tax and previously argued work was overtaxed and assets were under-taxed, indicating a potential increase to capital gains tax, which applies to assets like shares and
With Andy Burnham on the verge of entering Number 10, the threat of an income tax rise is growing. Mr Burnham told this newspaper last year that there was “definitely a case” for raising the top rate of income tax from 45pc to 50pc. More than a decade ago a 50pc rate was also proposed