Personal Tax

Outlook for savers worsens as inflation rises again

Savers are likely to see a further drop in the value of their money following January’s sharp rise in the rate of inflation.

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Revenue increases its take from wealthy taxpayers

The level of tax collected from wealthy taxpayers has risen by 360 per cent over the past five years, it has been revealed.

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Taxpayers advised on new HMRC bank accounts

HM Revenue and Customs (HMRC) has reminded taxpayers of the need to use the tax authority’s new bank accounts.

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Worries over business survivals if tax payment scheme closes

A significant number of businesses could face severe financial trouble were the government’s time to pay scheme to be wound up.

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More tax rises and spending cuts needed to repair UK finances

Greater efforts will be required to reduce public borrowing than those promised by measures set out in the pre-Budget Report, a leading think tank has argued.

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Self-employed could face exaggerated tax bills

Self-employed business owners could end up with inflated tax bills, it has been claimed.

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Revenue offers guidance on incorrect tax codes

HM Revenue and Customs (HMRC) has responded to worries that a proportion of the new tax codes that are currently being issued may be incorrect.

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Tax date likely to see increase in deferred payment requests

The government’s scheme to help businesses that are struggling to pay their tax bills could see a rise in requests to delay payments as the self-assessment date approaches.

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Consultation begins on broadband tax

Plans for a proposed new levy aimed at raising funds to boost the UK’s broadband network have gone out to consultation.

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Tax rises 'dampen' consumer optimism

Prospective tax rises and the return of VAT to the old rate of 17.5 per cent may have had an adverse effect on consumer confidence.

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