Tax rises needed to tackle the health and social care crisis The Institute for Fiscal Studies has warned that the £12bn tax rise is only sufficient to fix the immediate shortfall faced by the health service as it emerges from the Covid pandemic. The IFS said that the health and social care levy – set at 1.25% on top of National Insurance, and due to take […] By Lisa Brownlow, 1 November 2021
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Tories become the party of tax hikes A YouGov survey has found 64% of respondents thought the Tories would raise taxes if they won the next election, but only 56% said that Labour would. The poll came as Tony Danker, the chief executive of the CBI, said the Labour Party was looking “better on business taxes” after Rachel Reeves, the shadow chancellor, […] By Lisa Brownlow, 26 October 2021
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NI hike will inflict “terrible” toll on health and social care workers NHS and care workers will be hit with a £900m tax bill following Boris Johnson’s increase in National Insurance Contributions, which were designed to fund improvements in social care and help the NHS recover following the pandemic. A report from the House of Commons library argues the tax hike will inflict a “terrible” financial toll […] By Lisa Brownlow, 13 October 2021
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£35 billion tax lost! HMRC data shows that the amount of tax lost in Britain through non-payment, avoidance and fraud has increased to £35bn. The tax gap – the difference between the Revenue’s expected income and actual receipts – is estimated to have increased by £2bn in the 2019/20 financial year compared to the 12 months before. HMRC says […] By Lisa Brownlow, 28 August 2021
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Governments must set tax rules, Bezos tells Johnson Speaking after a meeting with Jeff Bezos in New York on Tuesday, Boris Johnson said he’d urged the Amazon boss to make his company pay more tax in the UK. “What I did say to him was that we in the UK feel very strongly that the internet giants need to be making their fair […] By Lisa Brownlow, 28 August 2021
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HMRC recoups record £4bn in lost taxes Data from HMRC examined by tax insurance investigation firm PfP show investigations and compliance work by HMRC saved £4bn in taxes from being lost in the last quarter, nearly double the £2.2bn for the same period last year. PfP said the increase in the amount of taxes saved will be due in part to the […] By Lisa Brownlow, 28 August 2021
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