The biggest revenue raiser was the change in employer National Insurance Contributions, which the government expect to raise £25 billion per year by the end of parliament. This more than offsets the total revenue lost from employee NICs cuts in the past two fiscal events. While the overall ...
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court sentenced Felipe Moncaleano Botero, the former CEO of the Colombian subsidiary of a U.K.-based insurance brokerage, to six years in prison and directed him to pay a $50,000 fine in relation to one count of conspiracy to commit money laundering in connection with the scheme. Jose Vi...
Beginning her response, the main opposition Labour Party's Shadow Chancellor Rachel Reeves says the impact of previous income tax freezes eclipses Wednesday's National Insurance cut. "The government had already put in place tax increases worth the equivalent of a 10p increase in National Insurance,...
plans to grow the economy I want to reform and simplify the taxes paid by the self-employed. So today I am announcing a major reform of one of those taxes. It is one most people haven’t heard of, but it is a big deal for those who have to pay it. Class 2 National Insurance ...
Updated: 27/11/2023 Chancellor Jeremy Hunt is mulling over cuts to income tax and National Insurance ahead of Wednesday’s Autumn Statement. In media interviews over the weekend, Hunt refused to rule out cutting income tax. He told the BBC’s Sunday with Laura Kuenssberg programme, his spe...
The chancellor is set to deliver his autumn statement on Wednesday, setting out his plans for government's finances across the next year. It's Jeremy Hunt's chance to update the public on the state of the UK economy, announces changes to taxation and set out spending plans....
The chancellor will lower national insurance contributions by two percentage points (for non-UK readers, this is another form of income tax, but is more limited). The cut will be made from January, usually soon, but again, highlighting the pressure on the government. The self...
Solvency II Reform: the government has published its plans to reform the Solvency II regulation which aims to unlock additional financial capital from the insurance sector to be invested in infrastructure and growth. The government’s consultation response can be found here. ...
National insurance cuts swamped by stealth tax rise, says fiscal watchdog Chancellor Jeremy Hunt’s reductions will be more than offset by ongoing freeze on personal allowance thresholds, according to OBR Martin Wolf Hunt may be lucky but he has not solved the UK growth challenge ...