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M Levin & Co Taxation Practitioner providing essential information (and protection) in tax - and - Accountancy,

05/06/2026

Media Tax Highlights - Friday 5 June 2026

Tax reliefs

UK taxpayers suffer from ‘permafrost’ of allowances frozen for decades - Financial Times (Josephine Cumbo)

A study carried out by the Association of Taxation Technicians has highlighted that many tax reliefs have been frozen for decades, quietly increasing tax bills as inflation erodes their real value. They include the nil-rate band for inheritance tax, which has been £325,000 per person for the last 17 years, but would be around £525,000 if it had risen in line with inflation. Emma Rawson, the ATT’s director of public policy, said the tax system has been left to “quietly wither”. “The tax system should be simple and suitable for 21st-century taxpayers… but some of these thresholds haven’t moved since the 1970s and ’80s,” she said. “A proper commitment to reviewing and uprating these allowances regularly would go a long way towards making tax simpler, fairer and fit for today’s economic landscape.”

Tax fraud and evasion

HMRC issues scam warning over £153m TikTok tax code fraud -
- Daily Telegraph (Linus Uhlig)
- Romanian men arrested by HMRC over alleged £153m tax fraud plot (Daily Express – Ciaran McGrath)

Two Romanian men have been arrested by HMRC for an alleged £153 million tax fraud scheme using TikTok. They reportedly persuaded UK taxpayers to share access to their tax accounts with promises of financial rewards. HMRC have blocked millions in suspected fraudulent tax repayment claims. The investigation is ongoing, and HMRC urges reporting of suspicious accounts.

SNP in talks with HMRC over potential VAT fraud from Peter Murrell’s embezzled loot - The Scotsman (David Bol)

The SNP is in discussions with HMRC regarding potential VAT fraud linked to Peter Murrell's embezzlement of over £400,000. Murrell, the party's former CEO, admitted to falsifying invoices for personal purchases, which may have led to illegal VAT claims. SNP leader John Swinney confirmed the talks, while Scottish Labour leader Anas Sarwar has called for a full investigation into the matter.

£4.5bn black market cigarette tax loss should be ‘a major wake-up call’ for Labour - City AM (Rosie Harris-Davison)

More than half of the ci******es consumed in the UK are now from the black market, leading to £4.5 billion in tax losses, according to a report by KPMG and Philip Morris. The estimated total number of illicit ci******es consumed rose to 10bn last year, including both ci******es smuggled into the UK and those illegally manufactured here.

Business taxes

Amazon boss refuses to come clean about online giant's UK tax bill - Daily Mirror (Graham Hiscott, Business and Consumer Editor)

Amazon's boss in the UK, John Boumphrey, has defended the online giant's refusal to reveal how much corporation tax it pays. The company issued an update last week in which boasted about paying more than £1.3 billion in direct taxes in the UK, up from more than £1 billion in 2024. However, that figure takes in a whole host of elements, from corporation tax and business rates to national insurance and the digital services tax. Boumphrey said that the UK corporation tax figure could be taken out of context: "If you are in heavy investment mode, it can go up and down. What we have done is take the decision to tell the whole story."

Property taxes

Welsh ministers considering whether to go ahead with council tax changes - BBC News Online (Gareth Lewis, Wales political editor)

It is unclear if the Plaid Cymru Welsh government will continue with a planned revaluation of homes as part of council tax reform in 2028, writes the BBC’s Wales political editor. Speaking to BBC Wales on Thursday, local government minister Siân Gwenllian said: "Council tax reform is in the portfolio of the finance minister and obviously I'll be having discussions with her around exactly what will be our next steps on that one." Asked to clarify party policy, and whether it was committed to revaluation in 2028, she said: "That's something that we're actively looking at at the moment and those conversations haven't really happened in depth yet, so you'll find out soon enough about all of that." She went on to say the current system was not fair and that it was recognised as a "regressive regime".

Wealth and capital taxes

Capital gains tax has stumped politicians for decades; Streeting doesn’t stand a chance - Daily Telegraph (Brian Monteith)

In an opinion article in the Telegraph, former Conservative MSP Brian Monteith criticises Labour leadership hopeful Wes Streeting for supporting the equalisation of capital gains and income tax rates. Monteith presents figures suggesting that revenues have risen when CGT rates were cut and declined when CGT rates were raised. Suggesting that “the Laffer Curve inflection point is very low in the case of CGT” he argues that abolishing CGT would not lose revenue: “To the contrary, the resulting increased economic growth would lead to a considerable expansion of tax receipts over the medium to longer-term.”

Wealth taxes ‘almost inevitable’ because of A.I.

Luca Paolini, the chief strategist at Pictet Asset Management, has warned that wealth taxes are becoming more likely as profits from A.I.-focused investments rise. "It's almost inevitable…there will be a significant demand for wealth taxes, inheritance taxes, whatever you want to call it," he said. However, he warned against increasing capital gains tax arguing that this would discourage people from investing in shares.

04/06/2026

Media Tax Highlights - Thursday 4 June 2026

Tax on savings

The savers wrongly charged thousands for tax they don’t owe -
- The Telegraph (Alex Marsh)

The Telegraph reports on taxpayers who were wrongly assessed as owing thousands in tax on savings interest, with some highlighting that their PAYE codes were adjusted to recover the sum. After these reports, HMRC stated that it had “applied the correct rules” in these instances; however, Conservatives have urged ministers to bring HMRC “into line” to stop any further “unnecessary and unfair charges”. Antonia Stokes, of the Low Incomes Tax Reform Group, said: “We feel strongly that HMRC should put processes in place so that taxpayers can challenge data they believe to be incorrect”.

Business taxes

‘Tipping point’: CBI boss slams £345bn business tax burden amid ‘cost of doing business’ crisis - City A.M. (Maurício Alencar)

The head of the Confederation of British Industry (CBI) has warned that the rising business tax burden is nudging British firms towards a “tipping point”. Speaking at the CBI’s national business dinner, Rain Newton-Smith highlighted that taxes paid by businesses reached a record £345 billion last year, adding that businesses are not a “cash tap”.


Wealth and capital taxes

Happiness is not just about GDP’: ambitious plan or utopia? -
- The Guardian (Jonathan Watts)

A World Inequality Lab report advocates wealth taxes on billionaires and greater investment in health and education, claiming such measures could significantly boost global incomes while keeping global heating below 2 °C. Thomas Piketty, one of the coordinators of the report, has suggested that the ambition of the mega-rich has become ‘unrealistic’, increasing “the material footprint of our economy”, and making “global warming even worse”.

How offshore bonds can help you pass on tax-free wealth -
- The Times (Imogen Tew)

Wealth advisers report that changes to inheritance and capital gains taxes are prompting wealthier investors to consider offshore bonds. Offshore bonds are structured as life insurance policies, and their main benefit is that individuals do not pay annual UK tax on any gains or income.

Andy Burnham new pledge would quadruple inheritance tax -
- Daily Express (Harvey Jones)

An opinion article in the Daily Express takes aim at Greater Manchester Mayor and putative Labour leadership contender Andy Burnham over what the paper thinks are his tax plans. The Express reports that Burnham has at various times talked about raising the top rate of income tax and about increasing inheritance tax to fund social care. It notes that HMRC raised around £9 billion from inheritance tax last year, and the annual cost of social care is £39 billion, leading them to argue that if Burnham intends to fund social care solely through inheritance tax, it would mean roughly quadrupling family bills.

Non-doms

Global flight of the wealthy slows sharply as political and tax worries ease - Financial Times (Josh Spero)

The share of wealthy individuals relocating for tax reasons has more than halved, with just a quarter planning or making a move in 2025. A survey by consultancy Capgemini has found that changes that had motivated moves include the abolition of the non-dom tax regime in the UK and political dissatisfaction in the US. Camilla Wallace, senior partner at law firm Wedlake Bell, highlighted the departures of some of the UK’s richest residents, saying “the very wealthy non-dom client will have gone already”.

Tax system

We have doubled the number of taxes — Reeves must start the cull - The Times (Dan Neidle)

In an article for the Times, the founder of Tax Policy Associates warns about the rising number of UK taxes, comparing the tax system to a giant game of Jenga in which “every chancellor adds another block to the top and nobody dares touch the relics rotting at the bottom”. He emphasises ‘decluttering’ the small taxes that raise so little, adding: “Rachel Reeves could take a leaf out of Lawson’s book, abolish a tax a year and barely lose a penny of revenue”.


Scotland

Ministers working on ‘delivering’ private jet levy and mansion tax -
- The Herald (Katrine Bussey)
- Hammer of the Scots! Families warned of even more tax hikes as ministers pander to Greens (Daily Mail – Tom Gordon)

The Scottish Deputy First Minister has confirmed that her government will deliver [sic] their commitments to introduce a private jet levy and a “mansion tax” on homes worth £1 million or more. Jenny Gilruth added that money raised from taxes will support public service and cost-of-living measures. Scottish Conservative finance spokesman Craig Hoy has criticised the decision, saying: “You cannot keep taxing your way to economic growth and Scots are sick and tired of being forced to pay the highest taxes in the UK”.

USA: tax exemption

SpaceX wins tax exemption for $55bn AI chip plant despite local backlash - Financial Times (Stephanie Findlay)

SpaceX, owned by Elon Musk, has secured a property tax exemption for its $55 billion semiconductor facility in Texas, despite local residents’ threats of legal action. The residents have argued that the tech company is “moving too fast” by building several facilities in the area, expressing concerns about environmental pollution and changing the social fabric of the region.

03/06/2026

Media Tax Highlights - Wednesday 3 June 2026

Windfall tax

BP held talks about selling £2bn of UK North Sea assets to Ithaca -
- Financial Times (Ivan Levingston, Malcolm Moore and Rachel Millard)
- BP considers quitting North Sea after Labour tax raid (The Telegraph - Emma Taggart)

BP is considering exiting the North Sea after more than 60 years. The firm has explored selling its UK operations to rival Ithicia Energy, having criticised the windfall taxes introduced by the government. BP is one of Britain’s top corporate taxpayers. A government spokesperson said it was giving the industry “the long-term certainty to plan, invest and support jobs”.

Tax policy

The three mistakes politicians always make when raising taxes -
- The Telegraph (James Sproule)

In an article for the Telegraph, the Chief Economist of Handelsnake UK says higher taxes are ‘inevitable’ but don’t need to be ‘destructive’. James Sproule writes that politicians make three mistakes when increasing taxes that are damaging to the economy. They are:
imposing taxes when people lack the money to pay them: undermining economic growth by heavily taxing high earners; and investments, which can discourage productive activity, and discouraging financial independence by overtaxing savings and inheritance.
He concludes that, “in the rush to raise revenue, it would be a good step to ensure taxes are ones that people can afford to pay, and – critically – are compatible with long-term economic growth.”

VAT

Private schools have lost 30,000 pupils since introduction of VAT -
- The Times (Nicola Woolcock)

The Times reports that private school enrolment has fallen by 30,000 since VAT on fees was introduced. Pupil numbers have declined by up to 6.6% in some year groups, with fewer families enrolling children at key entry points such as primary school. Shadow schools minister Saqib Bhatti said children were “paying the cost of a policy that is disrupting education without delivering [sic] the benefits”. The government said the policy “is raising more than initially forecast” and helping to improve education for children in state schools.

Tax rises

Labour ‘not looking to raise taxes to fund benefits’ as Mandelson messages suggest - The Guardian (Jessica Elgot)

The Cabinet Office minister has denied that the government is planning to raise taxes to fund increased welfare spending. It follows the publication of WhatsApp exchanges between Work and Pensions Secretary Pat McFadden and the former US Ambassador Peter Mandelson that were released as part of the government’s disclosure of information relating to Mandelson’s appointment. In them, McFadden said that in “every meeting” Labour backbenchers say, “who can we tax in order to pay benefits to others”. Nick Thomas‑Symonds said McFadden’s “view has always been about an emphasis not on the benefits side, but an emphasis on giving people opportunities”.

Corporation tax

UK Groups Seek Longer Pilot for Corporate Tax Filing Changes -
- Bloomberg tax (Somesh Jha)
More time needed to standardise company tax returns, says ICAEW (ICAEW – not attributed)

The Institute of Chartered Accountants in England and Wales (ICAEW) has said HMRC should extend the pilot phase for a new corporation tax return system. The accountancy body said a longer period would help HMRC assess early submissions and give software providers time to adapt.

Business tax

Fam­ily firms rein in hir­ing as tax hikes bite -
- Hugo Duncan (This is Money)

A report by trade group Family Business UK (FBUK) says British family businesses are struggling to hire as employment costs rise. According to the paper, 40% of businesses cite high wage expectations as the main barrier. Chief executive of FBUK Neil Davy said higher national insurance contributions and minimum wage rises are deterring job creation. He called on the government to “create a fairer – and simpler – tax system that supports family businesses”.

Wealth tax: Hungary

Orbán’s oligarchs on edge as Hungary poised to launch wealth tax - The Guardian (Juliette Garside)

Hungary’s prime minister is set to introduce a wealth tax aimed primarily at the country’s richest individuals. The specifics are uncertain but Peter Magyar’s party stood on an election manifesto that pledged to introduce a 1% annual levy on assets above 1bn forints (£2.4 million) that would apply to property, company shares, overseas holdings and luxury goods. Framed as a tool of “social justice”, the tax is intended to rebalance a system seen as favouring a small, politically connected elite, and could make Hungary one of the first EU countries to adopt such a policy.

02/06/2026

Media Tax Highlights - Tuesday 2 June 2026

Tax reform

Andy Burnham: ‘The London set have run Labour for too long’ -
- The Observer (Rachel Sylvester)

In an interview with the Observer, Labour leadership hopeful Andy Burnham discussed the future of the tax system. He has previously called for a 50p top rate of income tax but now says: “I think we need to tread carefully and carry people with us, not necessarily going straight to new areas of division and conflict.” But he insists he wants “a fairer taxation system [that] incentivises the right things”. He supports a land value tax – charging an annual levy to developers who sit on land without building – and a revaluation of council tax rates as part of sweeping reforms to property taxation that would also look at stamp duty land tax.

Business rates

Call for business rates rethink as 100,000 firms face tax hit -
- The Times (Tom Howard)

The Federation of Small Businesses (FSB) has urged the Government to reconsider business rates for small firms, with more than 100,000 companies now facing this tax for the first time. The FSB has requested an increase in the threshold for business rates from £15,000 to £25,000, arguing that this change would benefit businesses outside London. The FSB also pointed to issues with new calculations for shared office spaces, which have led to unexpected tax bills for many small enterprises. The Treasury said it has allocated £4.3 billion to support businesses facing these increases.

Making Tax Digital

Vulnerable ‘at risk of fines’ under shake-up of tax system -
- The Times (Alice Wright)

Self-employed workers who have a disability or struggle to access the internet are being denied the help they need to get used to the new Making Tax Digital regime, accountants have warned. Advisers at Blick Rothenberg said clients were not getting the proper exemptions [from] HMRC’s new scheme because staff didn’t seem to know their own rules. The new system requires self-employed workers and landlords to file their accounts online four times a year using compatible software, with exemptions available on the basis of age, health or disability, religious belief or location, if your home or business is unable to get access to the internet. Exemptions are also available for those who have someone else making their financial decisions for them under a power of attorney. However, Blick Rothenberg said that clients’ applications for exemption had been rejected by the tax office, even when they had a power of attorney in place.


National insurance

Landlords should pay National Insurance, think tank tells Labour -
- Daily Telegraph (Robert White)

The government has been urged to make all landlords pay national insurance on their rental incomes. The New Economics Foundation think tank urged the Government to make the tax reforms to “reduce distortions that favour residential property investment”. It said landlords’ income stream was “inexplicably” free of national insurance contributions, creating an “unwarranted tax exemption”. But opponents have branded the move “disastrous” for landlords, adding that it would be “another blow” for tenants during the cost-of-living crisis.

Scotland

New MSPs told to overhaul Scotland’s complex income tax structure - The Times (Greig Cameron)
- Scottish accountants warning over income tax and NI (The Herald – Ian McConnell)

Newly-elected MSPs have been told to reduce and simplify Scotland’s income tax system as it “undermines” the country’s competitiveness. A post-election survey carried out by the Institute of Chartered Accountants of Scotland (ICAS) found income tax and national insurance, which is overseen by Westminster, are the areas the industry would like to see tackled most quickly.

At the moment anyone in Scotland earning £33,493 or greater pays more income tax than if they lived in England. ICAS said 39% of its members identified income tax and national insurance as the area most in need of tax reform, ahead of non-domestic rates (17%), council tax (16%), and inheritance tax (10%).

01/06/2026

Media Tax Highlights - Saturday 30 May to Monday 1 June 2026

Making Tax Digital

HMRC confirms £200 charges for UK households after tax rule change - Daily Express (Claire Schofield)

The Express reports that, under the new Making Tax Digital regime, when a taxpayer misses a submission deadline they will incur a penalty point and be liable to pay a fixed penalty of £200 when they have reached a points threshold based on their submission frequency. While no penalty points will be charged for late submission of mandatory quarterly updates during the 2026/27 tax year, tax experts warn that deadlines will still be in place, and those who delay preparing risk confusion, missed submissions and mounting problems later on. Emma Rawson, Director of Public Policy at the ATT, said: “It’s helpful that penalties won’t apply in the first year, but people shouldn’t see that as a reason to wait. Making Tax Digital brings multiple new deadlines and new rules.”

Tax avoidance

Holiday home owners exposed to tax investigations under EU border checks - Daily Telegraph (Charlotte Gifford)

The Telegraph reports that new EU border controls that require British travellers to have their fingerprints taken and faces scanned could trigger tax investigations for holiday home owners and workers staying abroad. Accountants warn that the data captured by the new biometric checks will be available to tax authorities, including HMRC, making it easier to identify those who have failed to correctly register their tax residency.

Business taxes

Streeting and Hunt intervene on growth crisis -
- The Times (Josh Glancy and Lara Spirit)
‘It’s a given Starmer will go,’ says London MP Rosena Allin-Khan as she heads to Makerfield by-election (Evening Standard – Nicholas Cecil)

Labour leadership hopeful Wes Streeting has suggested cutting employer national insurance contributions to encourage businesses to hire more young people. In an interview with The Sunday Times, Streeting — who resigned as health secretary this month — said the government should be thinking “actively” about incentivising employers to ease the youth worklessness crisis. Hospitality leaders are also calling on the Chancellor to reverse recent increases in employer national insurance contributions (NICs), citing a rise in youth unemployment. But Work and Pensions Secretary Pat McFadden has backed the Chancellor's decision to raise employers' NICs, warning that any tax changes could have significant knock-on effects on public spending. He said: "If you want to pull one lever in the tax basket, there will be consequences."

VAT

Top UK chefs call for cutting VAT for pubs and restaurants to 10% -
- BBC News (Michael Race, Charlotte Sexton and Katie Razzall)

A group of UK chefs and restaurant owners have urged the Government to cut VAT on hospitality businesses from 20% to 10%, arguing the current rate is squeezing already thin margins. The industry says rising employment costs - including higher employer national insurance contributions, minimum wage increases and business rates - alongside VAT are making restaurants and pubs increasingly unprofitable.

VAT raid leads to more mid-sized private schools collapsing -
- The Times (Georgia Lambert)

The Times reports on how VAT charges on private schools are now leading to the closure of mid-sized private schools once considered financially resilient. Historically, it would be small schools with falling pupil rolls and poor finances that would fail. But now, figures from the Department for Education show that even large institutions are being pushed over the edge.

Property taxes

Wealthy investors ‘will leave Britain over double-whammy mansion tax’ - Sunday Telegraph (Camilla Turner)

Wealthy investors may leave the UK due to the new high value council tax surcharge and an extra non-resident premium, which the Government is consulting on. A survey revealed that 25% of wealthy families are considering leaving due to tax increases. Peter Ferrigno, the director of tax services at Henley & Partners, adds: "The top of the market is dead. There is an excess of high-value properties in the market anyway because of all the people who have left."

Inheritance tax

Moving abroad won’t save you from the British tax man -
- City AM (Maisie Grice)

Recent tax changes are increasing inheritance tax exposure for Brits overseas, particularly following the abolition of the non-dom regime. Non-UK assets remain in the scope of IHT for a "tail period" that sees them left within the remit depending on how long an individual lived in the country. Financial advisory firm deVere Group estimates around 4.8m Britons overseas could still be caught by UK IHT rules. Advisers have also warned that reforms coming in 2027 will bring unused pension pots and death benefits into the IHT net, potentially creating combined IHT and income tax liabilities for beneficiaries, especially where overseas succession taxes also apply.

Tax thresholds

7 million more people dragged into income tax net - how to cut your bill - Daily Mirror (Levi Wi******er)

The freezing of tax thresholds until 2031 has resulted in 7 million additional people entering income tax. The number of income taxpayers rose to 40 million in the 2025/26 tax year, an increase of 1.3m from the previous year. Sarah Coles, head of personal finance at AJ Bell, says it is "worth considering ways to keep income tax to a minimum," including making pension contributions, getting tax relief at the highest marginal rate, or using a Cash ISA to protect savings interest from tax.

Motoring taxes

Rachel Reeves confirms 5p rule for drivers giving colleagues a lift to work - Birmingham Mail (James Rodger)

Amid changes to mileage rates, HMRC has confirmed that passenger payments for cars and vans remain in place. HMRC says: "5p per passenger per business mile for carrying fellow employees in a car or van on journeys which are also work journeys for them.” Last month, the Chancellor announced that the Approved Mileage Allowance Payment (AMAP) rate for employees using their own cars or vans for business travel would increase to 55p per mile, from 45p per mile, for the first 10,000 business miles travelled per year. The chair of the Association of Taxation Technicians' Technical Steering Group, Jon Stride, said: "the increase to 55p per mile is welcome and long overdue. However, a 10p increase after 15 years still does not fully reflect how much costs have risen since 2011. Had mileage rates increased in line with inflation, they would be 68p today, an increase of 23 pence.”

29/05/2026

Media Tax Highlights - Friday 29 May 2026

Green taxes

Ministers in talks over shelving carbon tax on fertiliser to curb UK food inflation - The Guardian (Helena Horton and Jessica Elgot)

Ministers are reported to be in discussions about suspending a carbon tax on fertilisers, due to come into effect early next year, in an effort to curb food inflation. The move would be part of a package of measures, including the suspension of import tariffs on a range of foods including bread, biscuits and bananas. Government sources said they were looking at suspending tariffs on a range of fertilisers in order to discourage farmers from leaving fields fallow.

Employment taxes

Britain cannot afford a lost generation: Retailers sound alarm as youth joblessness tops 1m - Daily Mail (Emily Hawkins)

The Mail reports that retailers are struggling to hire young people as tax increases, including in employer national insurance contributions, and changes to workers' rights, impact the job market. Helen Dickinson, chief executive of the British Retail Consortium, notes that 1.01 million people aged 16 to 24 are not in education, employment, or training, the highest total since 2013.

"Tax trap" warning for millions of Brits struggling with costs -
- Daily Star (Rory Poulter)

Research by Omnisend shows that 25% of UK adults have additional income sources, with “side hustles” contributing £8.5 billion a month to the economy. Experts have warned that many people may not realise supplementary income can attract HMRC scrutiny.

Scotland

SNP Stephen Flynn on Scottish income tax, business rates, Kate Forbes - The Herald (Ian McConnell)

Individuals who have put more into the Scottish income tax system up until now have “perhaps not got as much left to give as some other people would like to think that they do”, says the new Scottish Cabinet Secretary for Economy, Tourism and Transport Stephen Flynn in an interview with The Herald. He added: “I think it’s important, whether it’s income tax or whether it’s non-domestic rates… we need to be clear that there’s going to be a direction of travel of proper engagement both with the business community and with wider society about where we seek to go and how we do that in a way which allows us to have sustainable finances to invest in the infrastructure and capital projects.”

John Swinney told Scotland needs 'post-election reality check' on tax or public services will suffer - Daily Record (Chris McCall)

The Scottish Greens have urged First Minister John Swinney to increase taxes on the wealthy instead of cutting public sector jobs. Jamie Livingstone of Tax Justice Scotland argues that Scotland should "start taxing wealth properly to help fund the fairer future people were promised." Campaigners said the election earlier this month had "largely sidestepped the reality of Scotland’s public finance challenge".

Property taxes

Labour hits rural landlords with ‘nice pub tax’ -
- The Daily Telegraph (Nick Gutteridge)

Rural pubs are facing a new "nice pub tax" under guidelines from HMRC. This tax targets establishments in attractive locations or those with community significance, leading to higher business rates. Nearly 40,000 pubs are undergoing revaluation, which could significantly increase their tax bills. The Telegraph is running a “Save Our Pubs” campaign, which calls on the Chancellor to cut the tax burden on struggling landlords.

Burnham and the case for a land value tax -
- Financial Times (Murad Qureshi)

In a letter to the FT, Murad Qureshi, chair of Labour Land Campaign, advocates for a land value tax, saying there is evidence that such levies stimulate productive activity and drive economic growth. “Tax reform is critical to fund progressive social care and council house building,” he writes. “History demonstrates that a substantial land value tax (LVT) stimulates productive activity and drives economic growth”.

Pensions

UK households warned of 67% ‘double tax’ as Rachel Reeves makes change - Daily Express (Brian Dillon)

The Express highlights that changes to tax rules due in April 2027 would see the pension pots of people who are over 75 when they die subject to both inheritance tax and income tax, leading to what critics call a "double tax" of up to around 67%. The move has drawn criticism, as pots were previously seen as a tax-efficient way for people to store money. HMRC has said it will begin a public campaign to explain the changes to everyone affected towards the end of this year. Following that, it will publish final official guidance and support materials in spring 2027.

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