Newsroom

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Almost one million savers could be subject to punitive tax charges on their pension, MoneyWeek has warned. According to the publication, almost a million savers have unknowingly triggered a substantial reduction in their annual contributions, and may now...
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Two out of every five pensioners are receiving less than £150 per week in state pension after changes to the system, new figures reveal. Under the new state benefit, the maximum pensioners are able to claim is £168.80 per week. Yet a Freedom of...
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The annual cost of being retired comes to £11,830 per year, according to a new analysis - although its cheaper in some regions of the UK than others. Research from Key, which looked at the government’s latest spending data, revealed that retirees...
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The 129 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit shifting have officially adopted a Programme of Work outlining the process for reaching a new global agreement on taxing multinational companies. According to the document calls,...
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Retired households pay 31% of their income in taxes - both direct and indirect - every year, according to a new analysis. Research from Key shows the average gross annual income for retired households is £25,051, while their post-tax income is...
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England’s Chief Medical Officer is considering recommending a tax hike on unhealthy food, she has revealed. Professor Dame Sally Davies has been tasked with urgently reviewing what actions can be taken to meet the government target of halving childhood...
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Scotland could face a £1 billion spending black hole in the coming years, potentially necessitating tax hikes or further austerity. The nation’s economic watchdog has warned that Finance Secretary Derek Mackay may have to increase taxes or...
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A HMRC counting error means roughly half as many people as previously thought are benefitting from a marriage tax break. The marriage allowance allows a married individual to transfer £1,250 of their tax-free income to their spouse or civil partner if...
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The UK’s tax system does help to cut wealth inequality, according to a new report from the Institute for Fiscal Studies (IFS), although benefits continue to do the most to help the least wealthy. According to the research, the top 20% of earners bring...
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Tax cuts for “ordinary working families” are an option, thanks to an “improved state of public finances”, Chancellor Philip Hammond has said. Speaking to MPs during Treasury questions in the Commons, Hammond noted that, despite the...