- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Sunak considers raising additional rate tax band

The prime minister is considering raising the 45% rate or lowering the £150,000 threshold at which the tax band kicks in.

HMRC launches a campaign focused on offshore companies owning UK property

HM Revenue & Customs (HMRC) is launching a new campaign targeted at offshore companies which own UK property.

Could you face inheritance tax on your property?

Rising house prices could mean that unsuspecting homeowners face an inheritance tax bill on their estate.

Finance minister prepares first set of tax measures as part of broader tax reform

The intention is for the government to discuss and reach a political agreement on the measures during November and December 2022.

Lack of evidence signals the failure of historic VAT claim

They concluded that NHS Lothian did not have sufficient evidence to support its ‘Fleming’ claim for under-recovered input tax.

Deloitte Collaborates With AWS to Put Enterprise-Class Banking Solutions in the Hands of Consumers Faster

Deloitte's ConvergePROSPERITY™ BankingSuite on AWS helps customers including Western Union meet customer demand for new digital banking services

BP profits more than double to £7.1bn amid windfall tax pressure

Unlike Shell, the UK-listed oil giant will pay £695m via the energy profits levy

OECD tax chief warns of trade wars if global deal is not implemented

Pascal Saint-Amans says last year’s accord on taxing multinationals unlikely to enter rule books soon

KPMG comments on today’s public sector finances data

“Government borrowing is set to enter an upward trajectory” says Michal Stelmach, senior economist at KPMG UK.

HMRC tax and NI receipts growth will be music to the Chancellor’s ears

This increase likely reflects the uptick seen in average earnings over the past few months, though is somewhat surprising given the National Insurance threshold was increased to match the Income Tax threshold earlier this year which meant approximately 30

Chancellor brings forward further Medium-Term Fiscal Plan measures

Smaller measures including increases to share option limits and a higher subscription limit for the Seed Enterprise Investment Scheme also survived.

10.1% state pension boost at risk as Hunt refuses to commit to triple lock

The policy has now been thrown up in air again after Jeremy Hunt appeared indecisive on the matter.

Reversal on planned UK dividend tax cut a ‘blow to entrepreneurs’

But delivering a statement in the House of Commons, Hunt told MPs that he would “reverse almost all the tax measures” announced in the growth plan that had not yet been legislated for in parliament.

On the hunt for UK stability

VAT-free shopping schemes for non-UK visitors to the UK have also been scrapped, along with freezes to alcohol duty.

Chancellor reverses 'almost all' mini-Budget tax measures

The chancellor said these changes will raise £32bn a year.

Deputies told time is up...choose tax rises or spending cuts

“In the tax review, we’ve fired around all of the opportunities, if we can call them that. None of them are particularly pleasant.

Investment could be blown off course as government mulls renewable windfall tax

This could result in a step backwards in our transition towards a greener future and impact jobs in what is still a developing industry.

Rise in full pension withdrawals triggers tax warning

Over 10,000 pots were accessed without advice in the last financial year

Bahamas back on EU tax haven blacklist

The island nation was blacklisted along with neighboring Caribbean jurisdictions Turks and Caicos and Anguilla, the latter of which had also previously been removed from the list just one year ago.

Offshore corporates in HMRC’s sights

Nudge letters are part of HMRC’s ongoing ‘upstream compliance’ effort; a method by which they encourage taxpayers to proactively correct their affairs without the need for direct HMRC intervention.