Tax

Andrew Bailey has warned that British businesses are cutting costs and eating into their profit margins to cover rising energy costs. The Governor of the Bank of England said many businesses were reducing their headcount to avoid passing higher energy costs on to their customers.

Chancellor John Healey is set to increase taxes on Britain’s banks to help plug a hole in the UK Government’s finances caused by rising borrowing costs. Mr Healey is considering options for raising more revenue from Britain’s financial institutions ahead of the Budget on 28 October

Accountancy and business advisory firm BDO has appointed Angela Banerjee as a tax director specialising in R&D tax relief. She has more than  15 years’ experience across a number of advisory firms as well as expertise in advising innovative businesses on the patent box regime, where p

Big Four accountancy firm Deloitte was found to have helped falsify documents to hide Russian oligarch Roman Abramovich’s wealth and evade tax. The firm signed off accounts in Cyprus, meaning assets such as mansions, private jets and superyachts worth £508m disappeared from the former Ch

FinTech platform Wise is negotiating a settlement with HM Revenue & Customs after errors in its software led to around 4,000 of its investment customers paying the wrong amount of tax. Around 4,000 users of its Wise Assets service were notified that they had been provided with incorrect tax stat

By Corah Franco, private client partner, Thorntons Before the joy of watching children embark on their university journey, and the tears that often accompany the inevitable goodbye, some families may already be considering the next question: whether to invest in more permanent accommodation for thei

Freeths has appointed Heather Gibson as a partner in its tax team to strengthen the firm's capabilities in corporate, private equity and real estate taxation. She joins the firm from Addleshaw Goddard, brining nearly 20 years' experience advising clients on the tax aspects of corporate transactions,

More than six in ten millionaire investors have considered leaving the UK because of concerns over taxation, according to new research from Wealth Club. The study of 341 Wealth Club clients, all with overall wealth of £1 million or more, found that 61% have at least considered becoming non-UK

The Association of Chartered Certified Accountants (ACCA) has called on HMRC to explain why it needs more powers to deal with taxpayers and advisers who are fraudulent and dishonest. Responding to a consultation by the UK tax authority on introducing a criminal offence by making reckless untrue stat

Former NatWest chairman and financial regulator Sir Howard Davies has launched a scathing attack on the UK's banking framework, claiming that post financial crisis ring-fencing was a "completely useless regulatory intervention" that has "emasculated UK investment banking." Speaking as ministers weig

Scotland generated a record £98.3 billion in revenue during 2025-26: an annual increase of £6.3 billion (6.9%), according to the Scottish Government. The revenue per person in Scotland at £17,718 was similar to the UK average of £17,720 in the same year, when revenue from the

  Andy Burnham's absent economic advisers are a warning sign for UK investors, according to one of the world's largest independent financial advisory organisations.

Income Tax and National Insurance have emerged as the taxes most urgently in need of reform, according to the first post-Scottish election poll of ICAS (Institute of Chartered Accountants of Scotland) members. New findings show that more than twice as many Chartered Accountants (39%) identified Inco

Savers are being wrongly ordered to pay thousands of pounds in tax due to flawed calculations by HM Revenue & Customs (HMRC). Under rules introduced in 2016, financial institutions are required to report savers' annual interest earnings directly to the tax authority. This allows HMRC to automati

UK taxpayers have handed over £938.8 billion in tax in 2024/25, a 9.3% rise on the previous year, according to HMRC's annual bulletin, as frozen thresholds and rising asset values are quietly eroding household wealth. Inheritance tax receipts reached a new record high of just under £8.5b