The jump in settled investigations comes as Andy Burnham, expected to be the next prime minister, considers ways to raise taxes. Members of his top team have called for capital gains rates to be brought in line with income tax, which would hit thousands of investors with significantly higher bills. Mr Caddock said that he
Businesses are waiting up to eight years for HMRC to complete their tax investigations, MPs have warned. The public accounts committee (PAC) has said cases are dragging on for too long, with investigations involving a court dispute now taking nearly twice as long as in 2019. The PAC urged HMRC to set out plans to
Firms now fear that Mr Burnham, who is widely expected to become prime minister this month, will unleash further tax increases on businesses. David Owen, at S&P Global, said: “Survey responses signal that a triple squeeze from rising labour costs, worries about government taxation and weak consumer demand have made services firms more hesitant to
Prominent economists including Jim O’Neill, an ally of Andy Burnham, are urging the MP for Makerfield to pursue radical tax and spending reform to “unlock the gridlock that plagues the country” when he is confirmed as prime minister. O’Neill joins Jonathan Portes, an economics professor at King’s College London, and Danny Sriskandarajah, the chief executive
I spend a lot of time on tech forums. One type of post keeps showing up: I filed my income tax return using an AI chatbot. Some read like victory laps. Others are cautionary tales. Having spent over a decade building tax technology, I read every single one of them carefully. Together, they show where
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