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
Council tax arrears hit a record high of £7.4bn as a crisis brews for cash-strapped authorities. The balance owed to English councils increased by £800m in the 12 months to March, according to data from the Ministry of Housing, Communities and Local Government (MCLG). It comes before the Government places new restrictions on council tax
Microsoft’s Irish operations paid tax of $5.6 billion (€4.9 billion) last year, almost a fifth of total global taxes it paid in the year, according to a filing by the company under new European Union disclosure rules. The figure confirms the tech giant’s status as one of the biggest contributors to Ireland’s corporate tax revenues,
HM Revenue & Customs has issued a reminder to anyone who pays tax through Self Assessment that the second Payment on Account deadline falls on July 31. The payment applies to millions of self-employed workers, landlords and others who complete a Self Assessment tax return each year. Payments on Account are advance payments towards your
What income tax savings might we see in Budget 2027? Increase in standard rate band Increase in personal tax credits Bring the marginal rate of tax down from 52.2 per cent Abolition of 3 per cent self-employment surcharge Re-introduction of pay-related social insurance (PRSI) ceiling on earnings in excess of €75,000 Increase in small benefits
Let’s be straight: that’s not a fact. It’s a guess based on data from a newspaper league table built entirely from public accounts. That list covers footballers, pop stars and listed-company founders. It is completely blind to the thousands of private business owners, dealmakers and investors whose tax never surfaces in a Companies House filing
The tax authority is reminding Brits of the deadline The tax authority is alerting Self Assessment customers(Image: sturti via Getty Images) Millions of Brits have just one month remaining to make a crucial tax payment, with HMRC cautioning that those who delay until the final moment could face avoidable stress. The tax authority is alerting
New inheritance tax rules coming into force next year are already causing many people to rethink their financial planning. However, the way that the tax-free allowances work mean that some estates will feel the effects more than others. Here, we explain how the rules are changing, and why you could face a higher tax bill
But as Burnham prepares for power, the Chancellor has acknowledged the pressure to go further. This week, she told the British Chambers of Commerce’s conference she had “unfinished business is on fiscal devolution”. “That’s one area where I certainly want to make further progress, and I know that’s an area that Andy wants to,” she
A calculator built to help people understand how new proposed tax reforms will affect them has been published. Policy and Resources (P&R) said a 3% goods and services tax (GST), the re-introduction of vehicle taxes and lower income tax bands were among the reforms it wanted to make to the tax system to fill an