Tax

In this latest episode of Professional Adviser TV, Ranahan explored the prospect of a wealth tax under Burnham’s leadership and the long mooted equalisation of capital gains tax and income tax rates. Ranahan argued in the conversation that any wealth tax is more likely to serve as political cover for broader revenue-raising measures such as

Amid all the expectations as Andy Burnham takes over as Labour leader and the PM on Monday, there are big questions about tax – and who might end up better or worse off under his premiership. He takes over from Sir Keir Starmer with the UK economy having grown faster than any other G7 country

As the inheritance tax (IHT) net captures increasing numbers of family estates, thanks to long-frozen tax thresholds and rising property prices, more and more people are choosing to pass on wealth while they’re still around. But while giving money and assets away can help reduce the size of your estate – and, therefore, the resulting

The key Government pre-budget document, the Summer Economic Statement, is due shortly and is likely to be published next Wednesday, after the Cabinet meeting. By outlining the parameters of the tax and spending measures it will give important indications for Budget 2027 and what it will mean for households. It will also, given the scale

Charlene Young, of investment platform AJ Bell, said: “The figure was revised up 38pc following sticky inflation and interest rates staying higher for longer.” HMRC also estimated that it would bring in £8.2bn in savings interest tax in this tax year. Ms Young attributed the fall to the “rush to use the cash Isa allowance”.

Andy Burnham has signalled that he will not increase wealth taxes immediately after becoming prime minister, easing concerns among the business community but limiting his economic room for manoeuvre. He said on Wednesday he did not want to “create new divisions” with his tax policy, in comments that allies said were a sign that he

Millions more workers have been dragged into higher-rate tax bands because of the freeze on income tax thresholds since 2021. The number of higher-rate taxpayers has increased from 4.43million in the 2021/22 tax year, to a projected 7.7million in 2026/27, according to government figures published today. For tax allowances and thresholds to maintain their real

The number of employees paying company car tax has increased for the third year running, while the total taxable value has again fallen, newly released HMRC data suggests. The latest HMRC benefit in kind (BIK) statistics show there were 920,000 employees paying company car tax in 2024/25 – a 9.5% increase on the 840,000 reported the

Andy Burnham has admitted he is considering putting up taxes when he enters Downing Street. The prime minister-in-waiting said he would make “difficult” decisions to balance the nation’s finances, which may include “having to ask for a little more” from taxpayers. Mr Burnham refused to rule out wealth taxes. The admission came as the Organisation

Picture the scene. You’ve graduated from university with a five-figure pile of debt, battled your way into an extremely competitive graduate job and spent years laboriously climbing the career ladder. After doing everything expected of you, your reward is a salary of £150,000 – and the tax bill to go with it. A worker earning