Hunt: Everyone will have to pay more tax Chancellor Jeremy Hunt says everyone will have to pay more tax under plans set to be announced in this week’s Autumn Statement. He told the BBC’s Sunday with Laura Kuenssberg he has “been explicit that taxes are going to go up,” adding: “We have a plan to see us through choppy waters… we will make […] By Lisa Brownlow, 17 November 2022
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Inheritance Tax threshold freeze to drag more into paying death tax The Chancellor is poised to freeze the threshold above which people must pay inheritance tax for another two years. Jeremy Hunt and Rishi Sunak are understood to have agreed to the move which will mean the £325,000 threshold will remain in place until April 2028. Wealth manager Quilter estimates the extended freeze could bring in […] By Lisa Brownlow, 11 November 2022
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Rishi Sunak mulls return of 50p tax rate for top earners The Prime Minister is considering breaking a Tory party manifesto pledge by raising the top rate of income tax from 45p to 50p. An alternative Rishi Sunak is reportedly considering is to lower the £150,000 annual income threshold at which it kicks in. The Treasury is also looking at increasing the National Insurance rate paid […] By Lisa Brownlow, 9 November 2022
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Prime Minister and Chancellor set to hike taxes Chancellor Jeremy Hunt is set to announce tax rises in his fiscal statement later this month, with the Treasury saying Mr Hunt and Prime Minister Rishi Sunak have agreed “tough decisions are needed on tax rises as well as spending.” A Treasury source said the PM and Chancellor agreed “on the principle that those with […] By Lisa Brownlow, 2 November 2022
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MPs call for crackdown on advisors enabling tax avoidance MPs call for crackdown on advisors enabling tax avoidance   The All Party Parliamentary Group for Anti-Corruption and Responsible Tax has called for the UK’s tax system to be simplified and more resources spent on pursuing tax avoiders. Tory MP Kevin Hollinrake pointed to Treasury Select Committee figures showing every £1 spent on enforcement collects […] By Lisa Brownlow, 27 October 2022
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A fifth of HMRC callers give up Waiting times on HMRC’s self-assessment helpline are now four times as long as they were five years ago, climbing from an average of five minutes in 2017 to almost 20 minutes this year. The number of abandoned calls has doubled from 300,000 to 600,000 in five years, with one in five callers giving up. Before […] By Lisa Brownlow, 19 October 2022
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