The windfall tax is blamed for a fall in investment The UK government is said to be weighing an early end to the controversial Energy Profits Levy (EPL) or windfall tax, amid sustained pressure from the oil and gas industry. Treasury officials and North Sea operators have engaged in an “intense schedule of meetings” over
Rachel Reeves under fire for failing to raise £12.5bn from windfall tax on banks – Birmingham Live Need to know Campaigners say a tax on the huge profits made by banks would have offset the need for freezing income tax and National Insurance thresholds, which are putting a financial squeeze on ordinary workers 13:26, 25
The government has changed how it allocates funding to local authorities, called the “Fair Funding Review”. This means that more deprived areas are getting a greater proportion of the money. While there are pockets of very high deprivation around Weston-super-Mare, on average North Somerset is among the least deprived 20% areas in the country. So
The number of local authorities in England looking to impose the maximum level of council tax has fallen this year, new analysis reveals. Some 119 of the 153 top-tier authorities have either proposed or confirmed a rise of 4.99% for 2026/27 – the largest increase possible without holding a local referendum. A further six councils
A massive surge of support for for the personal income tax allowance to rise from £12,570 to £20,000 is putting pressure on Chancellor Rachel Reeves ahead of the spring statement (Image: PA) A campaign calling for a rise in the income tax threshold has hit a major milestone, with increasing pressure on Chancellor Rachel Reeves
From April, more than 864,000 taxpayers will need to follow new digital tax rules under Making Tax Digital (MTD) for Income Tax. If you’re a sole trader or landlord earning more than £50,000 a year, you’ll be among the first to move across. Those earning more than £30,000 will follow from April 2027. HMRC estimates
Plymouth City Council voted to increase its council tax on Monday. An increase of £116 this year will mean the 2016 bill of £1,600 will now go up to £2,440. The Labour leader of Plymouth City council, Tudor Evans, said the situation for local authorities had improved with the introduction of a three-year settlement, external
Frozen tax thresholds have increased the number of Brits paying income tax at the same time as squeezing the tax-free allowances that let people make an income without paying a penny to HMRC. But the tax system can still be made to work to your advantage, if you know how to play it. An estimated
Here’s what you need to know. The £12,570 HMRC Personal Allowance In this post on his website, which shares the segment from his TV show, Lewis says the first rule is the one “most people need to know about”. “So there are three things most people need to know about. The first is the main
Workers receiving a bonus this year could boost their pension by thousands of pounds by using bonus sacrifice – but a planned rule change in 2029 means the current National Insurance savings will not last forever. Workers receiving a bonus this year could boost their pension by thousands of pounds by using bonus sacrifice. Hargreaves