The House of Commons Treasury Committee has published a critical report on the operation of student loans. Earlier this year the Department for Education (DfE) announced a 6% interest cap on Plan 2 student loans for one year from September 2026. The DfE press release...
New research from HM Revenue & Customs (HMRC) has placed an uncomfortably large figure on the estimated amount of unpaid tax in the UK. At £59.2 billion, the outstanding amount is a serious sum of money—equating to roughly £850 a head for every man, woman, and...
A recent consultation paper released by HM Revenue & Customs (HMRC) could spell concerning news if you are one of the 3.6 million self-assessment taxpayers who make payments on account. While summer temperatures soared across the UK, HMRC unveiled a substantial...
Talk of a wealth tax has returned as another difficult Autumn Budget looms. In the wake of the Covid-19 pandemic, there was much talk of a wealth tax to fill the hole that had been created in the government’s coffers. At the end of 2020, a Wealth Tax Commission,...
Writing Your Will? Remember to Choose Your Executors with Care HMRC has published fresh information on the mechanics of collecting inheritance tax (IHT) on pensions. In the October 2024 Budget, the Chancellor announced that most pension death benefits would become...
New data from HMRC highlights just how heavily the UK government relies on a tiny blend of revenue streams, pulling the vast majority of its funding from a very small "cocktail" of core taxes. The Quadruple Tax Lock The Labour Party went into the 2024 general election...
HMRC has reported a low initial registration level for its new income tax regime, signaling widespread hesitation or lack of awareness among self-employed individuals and landlords. A little over 11 years after ‘Making Tax Easier’ was first announced in the March 2015...
The government has announced an interest rate cap for some student loans. However, the reality of this protection is not all it seems. Following Easter, the Department for Education (DfE) announced a 6% interest rate cap on Plan 2 and Plan 3 student loans. The DfE...
Further details have emerged about the potential impact of the ‘mansion tax’ announced in the last Budget. Rachel Reeves’ first two Budgets have so far featured announcements of tax-raising measures with delayed starting dates. For example, the controversial changes...
Weighing Up the Incentives and Disincentives of Your Tax Bill Just how much is the current tax landscape disincentivising you? The latest Economic and Fiscal Outlook from the Office for Budget Responsibility (OBR) recently shared some disconcerting insights that every...
Are you inadvertently leaving money on the table when you contribute to your pension? A recent "Supplementary forecast information release" from the Office for Budget Responsibility (OBR) regarding the future of National Insurance and salary sacrifice may sound like a...
The start of the new tax year on 6 April (which falls on Easter Monday this year) brings a series of significant adjustments to the UK’s fiscal landscape. From shifts in investment incentives to the way you report income, these changes may have a direct impact on your...
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