tax

More than half a million individuals now pay up to 60 percent of income tax on the top of their earnings, a record number caught in this punitive tax trap, according to Bowmore Financial Planning. Salaries between £100,000 and…

How much of the $23 billion reported by Alphabet (Google’s parent company) to buy Israeli cloud security startup Wiz will the Israeli tax authority take? The low estimate is $2.5 billion, while the high estimate is $3.5…

Figures released by HMRC this morning showed inheritance tax revenues hit £2.1 billion between April and June in the 2024/25 tax year. This is £83m more than the same period last year, continuing a two-decade trend of increased…

HMRC has collected an extra £14.4m in tax from insolvency cases over the two tax years to 2023 since regaining its “preferential creditor” status. The preferential status known as “coronavirus preference” was reinstated for HMRC in…

The new government must address the 55% effective tax rate on Universal Credit recipients if it aims to reduce unemployment. This is what Robert Salter, technical director at tax and audit consultancy Blake Rothenberg, pointed out,…

Americans living and working in the UK may face increased tax rates due to the results of the UK general election and the US presidential election in November. “For the Americans, this is the warm-up period before the main event of…

Michael Waweru, who died yesterday, was known for his unwavering commitment to his duties. As a tax collector, he was a man of principles who carried out his duties with utmost sincerity. Tax evaders, who were once friends of the…

Throughout the general election campaign, Labour officials insisted there were "no plans" to raise taxes beyond the pledges made in their election manifesto. However, given the fragile state of the country's finances, the wealthy…

New data from Global Blue reveals that the global dynamic recovery in tax-free shopping has accelerated across continental Europe and the Asia-Pacific region.Globally, the recovery rate of exported store sales was 168%1 in June 2024…

About three million Kenyans have not filed their tax returns four days before the June 30 deadline, exposing them to penalties from the Kenya Revenue Authority. KRA data shows that about six million people filed their returns by June 26…