Chancellor Rachel Reeves says she and Prime Minister Keir Starmer collaborated closely on the Budget and the Government’s tax plans, saying: “We took him through all of the numbers and options and we decided it together as a team.” This came as MPs on the Treasury Committee quizzed the Chancellor on the decision not to...
Kunal Shah, co-head of Goldman Sachs International, has warned that uncertainty over tax and regulation is hindering small businesses, saying the concerns are causing companies to hesitate on investments and hiring. Noting the impact of the tax burden in the UK, he said the recent Budget “was a focal point for everyone to see again...
Rob Perrins, executive chairman of housebuilder Berkeley Group, has urged the Bank of England to reduce interest rates to 3% by March. He argues that the current rates are too high and hinder economic growth. Mr Perrins noted that speculation around tax hikes ahead of the recent Budget had dampened demand for new homes. He...
As Christmas approaches, HMRC has advised those earning extra income through side hustles that they should be aware of their tax obligations. The tax office has reminded earners to declare income exceeding £1,000 per tax year to avoid penalties. While selling personal items typically does not require reporting, significant sales may incur capital gains tax....
Research for AXA Commercial shows that 77% of UK adults believe the Government should provide more support for small businesses. The poll, involving 2,000 participants, identified cuts to business rates, lower energy costs and reduced corporation tax as the measures people most want implemented to support small firms. Respondents also backed reducing red tape, simplifying...
With savers potentially facing tax charges on cash held in stocks and shares ISAs, investment experts have urged Chancellor Rachel Reeves to reconsider the reforms. The recent Budget reduced the cash ISA allowance to £12,000 while maintaining the stocks and shares limit at £20,000. Experts have voiced concern that temporary cash holdings could lead to...
Rachel Reeves has expressed frustration over a series of unauthorised leaks prior to the Budget. During a Treasury Select Committee session, the Chancellor said these leaks were “very damaging,” adding that reports which misrepresented her Budget strategy were “unacceptable.” Ms Reeves, who has vowed to prevent future occurrences, has emphasised the need for a review...
The UK Supreme Court (UKSC) has refused Jenny Helliwell leave to appeal her England and Wales High Court defeat against former husband Simon Entwistle. Entwistle successfully challenged a pre-nuptial agreement in which Helliwell had made a gross understatement of her assets (Helliwell v Entwistle, 2025 EWCA Civ 1055). In the original judgment, Entwistle was awarded only GBP400,000...
Sheikh Mohamed Bin Issa Al Jaber has lost a case in the UK Supreme Court (UKSC) against liquidators who claimed he was in breach of fiduciary duties to an offshore company of which he was director. The UKSC unanimously rejected the Sheikh’s argument that he could not owe fiduciary duties because he had no relevant...
HMRC is sending letters to taxpayers who it believes should ensure that any legal interpretation applied in a tax return or other document sent to HMRC is ‘correct in both fact and law’ as set out in its Guidelines for Compliance 13. HMRC says that where the taxpayer has relied on a particular interpretation of the...
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Copyright by CareAccountancy. All rights reserved.
