CMA chair: ‘The UK desperately needs economic growth’ Opinion The CMA is evolving but we will always stick firmly to the fundamentals: Protecting UK consumers and promoting competition, says new chair Doug Gurr Today I’m speaking to my fellow chairs at a summit of the UK major regulators. It’s a privilege to be part of the deep collective experience and commitment of that group [...]
More than 10,000 millionaires have left Britain in a year – this is where they’re all going Personal Finance More than 10,000 millionaires left Britain last year, partly to avoid higher taxes – with many quitting for more glamorous destinations. In total Britain lost a net 10,800 millionaires in 2024, according to the New World Wealth (NWW) analytics firm, more than any other country except China. That is a rise of 157 per cent [...]
Government borrowing plummets thanks to rising tax take Economics Government borrowing dropped to £11.4bn in November, £3.4bn lower than last year, as higher tax receipts and lower debt interest gave the government a much needed boost. With the lowest November borrowing in three years, the current budget deficit, or amount of borrowing to fund day-to-day public sector activities, also dropped by more than a [...]
Bleak midwinter for the economy? It could be worse… December 19, 2024 The political and economy outlook for the UK may seem gloomy, but spare a thought for our European counterparts, says Tim Sarson It’s the last working week of 2024 for many of us. I’ll be switching off the laptop on Friday afternoon and packing up for what I hope is a restful Christmas break, give [...]
Gary Lineker won’t be the last celebrity to fall foul of HMRC December 10, 2024 With the government’s efforts to close the tax gap, high profile individuals like celebrities, athletes and entertainers, are increasingly finding themselves under HMRC’s scrutiny, says Phil Clayton Gary Lineker is making the headlines once again – this time as a result of HMRC’s continued efforts to overturn the First Tier Tribunal’s (FTT’s) decision on £4.9m [...]
Budget tax hikes send business confidence to two year low, survey shows December 4, 2024 S&P's purchasing managers' index (PMI) for the services sector showed that business expectations for the year ahead were at their lowest level since December 2022.
Barclays boss insists Budget has been a ‘success’ despite gloomy forecasts December 3, 2024 The chief executive of Barclays has said Rachel Reeves’s tax-raising Budget has been a “success” so far, arguing it will likely boost economic growth in the longer term despite a raft of gloomy forecasts. Speaking at the Financial Times’ Global Banking Summit on Tuesday, CS “Venkat” Venkatakrishnan said markets for government debt suggested the Autumn [...]
The government is steamrolling family farms December 2, 2024 Ministers appear to have got their understanding of farming from Ladybird books filled with smiling yokels on little red tractors, says Tim Bonner The starting point for trying to understand the current row over inheritance tax and agricultural land is that farming is an essentially illogical activity. The return on assets in farming businesses is [...]
Sea of tax changes? Why getting your ducks in a row on pensions is vital December 2, 2024 Inheritance tax changes may feel a long way away, but sooner is better when it comes to structuring your assets to pass on as much wealth as possible to your loved ones, says Duncan Bailey The Budget has given businesses and individuals much to consider with announcements made around spending, national insurance contributions for employers [...]
Jeremy Clarkson backpedals on previous claim he bought farm for tax reasons November 23, 2024 Jeremy Clarkson has backpedalled on his previous comments about why he bought his farm, saying he thought it would be a “better PR story if I said I bought it to avoid paying tax”. The TV presenter and journalist defied doctors’ orders by joining thousands of farmers in London on Tuesday to protest against agricultural [...]