VAT

General Election 2010: a hung Parliament

With no party capable of commanding an overall majority in the House of Commons, here is a brief recapitulation of what each of the main parties has promised on business, tax and the economy.

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Income tax 'needs to climb'

The UK may have to increase the basic rate of income tax by 6p in the pound, a leading think-tank has warned.

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VAT keeps low election profile

Possible tax rises have been high on the election coverage agenda as each of the parties sets out their plans for reducing the budget deficit, but little so far has been made of any hike in VAT.

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Think-tank warns on tax rises and spending cuts

A leading think-tank has argued that none of the three main political parties has ventured far enough in identifying the sort of spending cuts and tax rises that may be necessary to reduce the UK’s budget deficit.

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Possible VAT rise predicted

A new government may have to give serious consideration to an increase in VAT, it has been forecast.

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What the political parties are promising

With the election looming, the main political parties have outlined what they intend to do on business support and tax.

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Threat of double-dip recession fades

The UK economy seems to have sidestepped the dangers of a double-dip recession but still faces many risks, a new study has claimed.

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Reform the tax system to 'rebalance' the economy

The UK’s tax regime requires a major overhaul if the economy is to be balanced and competitive.

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Rules tightened on payment of large business tax debts

Firms that want to negotiate extra time to pay large tax bills under the business payment support service may have to provide HM Revenue and Customs (HMRC) with more information.

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