Category: tax
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Capital gains tax raid could create one of the world’s most ‘anti-growth’ tax systems
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Chancellor Rachel Reeves’s upcoming Budget threatens to push the UK towards having one of the least competitive tax systems in the developed world, according to a major new analysis by the US-based Tax Foundation and the UK Center for Policy Studies (CPS). The report warns that if Labor introduces a…
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Capital gains tax raid could create one of the world’s most ‘anti-growth’ tax systems
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Chancellor Rachel Reeves’s upcoming Budget threatens to push the UK towards having one of the least competitive tax systems in the developed world, according to a major new analysis by the US-based Tax Foundation and the UK Center for Policy Studies (CPS). The report warns that if Labor introduces a…
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UK at ‘massive global disadvantage’ over tourist tax, retail bosses warn Rachel Reeves
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Retailers have called on Chancellor Rachel Reeves to scrap the so-called “tourist tax”, warning that Britain is losing billions in economic growth as tourists choose to shop elsewhere in Europe. In a letter signed by more than 300 chief executives, including leaders from John Lewis, British Airways, Fortnum & Mason…
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Crypto Tax Reform On The Horizon? Japan’s Tamaki Pledges Change If Elected
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The cryptocurrency industry is seeing a lot of activity this year, and not just because of new memes, coin pumps, or Bitcoin leading another rally. It has now become a hotly debated election issue, dividing voters and promising to lift the industry to new heights. And we’re not just talking…
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Crypto Tax Reform On The Horizon? Japan’s Tamaki Pledges Change If Elected
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The cryptocurrency industry is seeing a lot of activity this year, and not just because of new memes, coin pumps, or Bitcoin leading another rally. It has now become a hotly debated election issue, dividing voters and promising to lift the industry to new heights. And we’re not just talking…
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Jkuat picks up the tab in Sh296m tax row with ICEA building seller
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The High Court has ordered the Jomo Kenyatta University of Agriculture and Technology (Jkuat) to pay a bill of Sh296 million in unpaid value-added tax (VAT) and interest after purchasing the ICEA building in Nairobi from an insurance company about seven years ago. Justice Peter Mulwa said the indemnity instrument…
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Jkuat picks up the tab in Sh296m tax row with ICEA building seller
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The High Court has ordered the Jomo Kenyatta University of Agriculture and Technology (Jkuat) to pay a bill of Sh296 million in unpaid value-added tax (VAT) and interest after purchasing the ICEA building in Nairobi from an insurance company about seven years ago. Justice Peter Mulwa said the indemnity instrument…
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I Can Unite the Tory Party – and Cut 2p Off Income Tax
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Conservative leadership candidate Robert Jenrick has pledged to unite the divided party and introduce economic policies that would see a 2p cut in income tax. talk on GB NewsJenrick outlined his vision for a more cohesive Conservative party, emphasizing his business background as a key driver of his economic strategy.…
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Reeves considers ending salary sacrifice tax breaks for electric vehicles, sparking industry backlash
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Chancellor Rachel Reeves is reportedly considering scrapping tax breaks for salary sacrifice schemes used by tens of thousands of drivers to rent electric cars. The move is likely to deal a major blow to the UK’s march towards widespread electric vehicle adoption. The Treasury is reviewing whether to scrap or…
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Reeves considers ending salary sacrifice tax breaks for electric vehicles, sparking industry backlash
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Chancellor Rachel Reeves is reportedly considering scrapping tax breaks for salary sacrifice schemes used by tens of thousands of drivers to rent electric cars. The move is likely to deal a major blow to the UK’s march towards widespread electric vehicle adoption. The Treasury is reviewing whether to scrap or…
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Capital Gains Tax concerns loom over UK tech sector ahead of Autumn Budget
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The UK tech industry is on edge as speculation grows about potential changes to capital gains tax (CGT) in the upcoming Autumn Budget. Leading audit and advisory firm Blick Rothenberg has expressed concerns that such changes could have a detrimental impact on the fintech ecosystem, a key driver of the…
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Investors rush to withdraw pension funds amid fears of tax hikes in upcoming budget
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Investors are withdrawing money from their pension funds in increasing numbers, fearing potential tax increases in the next budget. AJ Bell, one of the UK’s largest manual wealth managers, has reported a spike in pension withdrawals, as clients move to secure tax-free lump sums ahead of potential changes by the…
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Starmer hints at employer national insurance rise but pledges to keep tax promises for workers
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Sir Keir Starmer has left the door open to increase employers’ National Insurance contributions, despite Labour’s election pledge not to increase taxes on workers. The Prime Minister stressed that “difficult” decisions will have to be made in the next budget, but stressed the Labor Party’s commitment to its promises in…
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China has begun enforcing a tax on overseas investment gains by the country’s ultra-rich
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or…
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China has begun enforcing a tax on overseas investment gains by the country’s ultra-rich
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or…
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Majority of Britons back increased tax on online gambling as calls for reform grow ahead of Autumn Budget
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New polls suggest that more than half of Britons (52%) support increasing taxes on online gambling, with many prioritizing a rise in gambling fees over other taxes such as income tax, VAT and fuel excise. It comes as the Social Market Foundation (SMF) releases a report calling for a significant…
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Britain relies on just 1M top earners for £124bn in income tax
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New data reveals that the UK is increasingly reliant on a small number of first-tier taxpayers to generate a significant portion of its income tax revenue. According to HMRC, the 1.13 million individuals paying the 45p rate are expected to contribute £124 billion this year, representing more than 40% of…
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South African Revenue Service Cracks Down On Crypto With New Tax Rules
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In an update shared via the country’s news agency, the South African Revenue Service (SARS) has called on taxpayers to declare their digital currencies and other crypto assets through the Voluntary Disclosure Program (VDP). Given the growing popularity of digital assets such as Bitcoin and Ripple’s XRP among South Africans,…
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South African Revenue Service Cracks Down On Crypto With New Tax Rules
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In an update shared via the country’s news agency, the South African Revenue Service (SARS) has called on taxpayers to declare their digital currencies and other crypto assets through the Voluntary Disclosure Program (VDP). Given the growing popularity of digital assets such as Bitcoin and Ripple’s XRP among South Africans,…