With a ‘black hole’ of £22 billion to fill, there are plenty of groups giving Rachel Reeves advice. The Fabian Society published a report on taxation on August Bank Holiday Monday. While their main audience…
Capital gains tax receipts
Raising tax rates is a traditional government strategy to increase tax receipts for HMRC, but this may not be the case for capital gains tax (CGT). This is because taxpayers generally have more control over…
Will increased capital gains tax (CGT) mean less tax gets paid?
Capital gains tax: a minority sport? The Labour Party’s 2024 manifesto said, ‘We will not increase National Insurance, the basic, higher, or additional rates of Income Tax, or VAT.’ The absence of any comment on…
Unveiling plans for the Renters’ Rights Bill
While only briefly mentioned in the King’s Speech, the government has now revealed more details of the Renters’ Rights Bill. The Bill will overhaul the private rented sector in England, with some elements also applicable…
Fiscal Drag: Caught in the 60% tax trap?
The number of taxpayers caught in the 60% tax trap has increased by nearly 25% over the past year. More than 500,000 people are now affected by higher tax rates due to their income exceeding…
Opening the books – the government’s spending inheritance…
The date of the next Budget has been announced, accompanied by the new Chancellor’s warning about government finances. Chancellor Rachel Reeves’ first announcement on entering 11 Downing Street was the commissioning of a ‘spending inheritance’…
New tax plans target private schools and social care
In her first detailed tax announcements as Chancellor, Rachel Reeves targeted both those starting off in life and those approaching the end of their lives. School fees From 1 January 2025, private school fees will…
From victory to Budget? Labour’s first 100 days
With a majority of over 200 and a weight of expectations, what happens next for Sir Kier Starmer’s new Labour government? The importance of the first 100 days of a new government cannot be understated.…
Spring Budget: a pre-election balancing act
What was almost certainly the last Budget before the election was a serving of the widely expected, sprinkled with a handful of small surprises. The Chancellor of the Exchequer, Jeremy Hunt, delivered the Spring Budget…
Spring Budget: a pre-election balancing act
What was almost certainly the last Budget before the election was a serving of the widely expected, sprinkled with a handful of small surprises. The Chancellor of the Exchequer, Jeremy Hunt, delivered the Spring Budget…