HMRC launches fresh tax crackdown on ‘side-hustlers’ selling online February 26, 2025 HMRC has launched a fresh crackdown on online sellers with a side-hustle who don’t report their income to the Treasury. The ‘One to Many’ letter campaign will ‘nudge’ individuals suspected of operating in the hidden economy. It will be based on data HMRC has received from online marketplaces. The campaign is intended to prompt sellers [...]
Keir Starmer’s defence pledge will prompt ‘tough choices’ on tax February 26, 2025 The Prime Minister confirmed yesterday that defence spending will rise to 2.5 per cent of GDP by 2027, up from 2.3 per cent at the moment.
Businesses face ‘powder keg’ of costs as Budget tax hikes loom February 26, 2025 The vast majority of businesses will be forced to change their plans as a result of the government’s tax raid, a new survey shows, which will result in higher prices for consumers and thousands of lost jobs. More than four out of five business leaders (82 per cent) said Labour’s national insurance hike will have [...]
Spring could prove to be an economic washout February 26, 2025 A modest burst of warm weather towards the end of last week may have coaxed the snowdrops and bluebells into life but don’t go dusting off the BBQ, as the cold isn’t done with us yet. Meteorologically speaking, Spring kicks in on 1 March but forecasters say the first month of the new season is [...]
Andy Burnham slammed for Manchester tourist tax plans February 21, 2025 Andy Burnham has been slammed by the chief executive of UKHospitality after backing plans for a new tourist tax to be introduced in Manchester. The mayor of Greater Manchester said earlier this week that tourists visiting the city region should pay a “proper” mandatory “tourist levy”. He added that he wanted to see Manchester city [...]
Economists warn of tax hikes after borrowing blow February 21, 2025 Figures from the Office for National Statistics (ONS) showed that tax receipts fell short of expectations in January due to the sluggish performance of the UK economy.
Budget costing jobs and pushing up inflation, survey suggests February 21, 2025 Excluding the pandemic, employment fell at the fastest pace since the global financial crisis, the survey suggested.
Everything you need to know about tariffs February 19, 2025 The threat of tariffs mean businesses must check their exposure and figure out what’s going on in their supply chains, says Tim Sarson I’ve decided to write an article on tariffs. I don’t do this lightly. Not only is it political, it is dominating the news agenda. So I’ll steer clear of the politics or [...]
Labour’s jobs tax is proving the Laffer curve in real time February 19, 2025 Widespread falls in hiring and increases in redundancies are a textbook demonstration of how tax can destroy economic activity. Labour’s National Insurance rise is proving economic theory before our eyes, says Matthew Kilcoyne Sometimes the data tells a story so clear it hurts. The latest CIPD survey gives us exactly that – a textbook demonstration [...]
Government backtracks on tax hike for private equity firms February 18, 2025 The government has reversed a decision to hike taxes on private equity firms by ditching changes to the tax treatment of members at limited liability partnerships (LLPs). The new guidelines, which were released last year, targeted salaried members on what tax contribution they pay, which affected the partner compensation at most firms. Before the new changes, members [...]