Is the Chancellor working from the wrong spreadsheet?

Is the Chancellor working from the wrong spreadsheet?

Last week it emerged that Number 11 has decided against one of the biggest potential tax changes being considered for the upcoming Autumn Budget. According to sources first reported byThe Times, the Chancellor has decided not to increase the rate of capital gains tax...
Five things we’d like to see in the Budget

Five things we’d like to see in the Budget

Commentary on the Burnham government’s first budget is likely to be dominated by big-ticket changes to tax policy: broadly speaking, what taxes, and at what rates, should apply to different kinds of income and people. That’s as it should be. Getting the shape of our...
Not just vape shops – the small business tax gap

Not just vape shops – the small business tax gap

The small business tax gap is, on the face of it, the biggest and most urgent problem for UK tax administration. According to HMRC’s figures, an astonishing £36.7 billion of due taxes went unpaid in 2024/25 by small businesses (those with turnovers under £10...
Private justice, public loss

Private justice, public loss

Full report Executive summary A UK company which forms part of one of the world’s largest oil trading multinationals, and which handles much of its oil trading business, has since 2009 been paying four-fifths of its operating profits to a related company in the Swiss...