Tax Levels

The OBR has warned that the UK's ageing population will strain public finances

OBR warns that tax rises and spending cuts are price UK has to pay for ageing

The first long-term assessment by the Office for Budget Responsibility (OBR) on the UK's public finances suggests that tax increases and spending cuts could be the norm until 2061 in order to keep public debt down.

George Osborne has announced an increase in the bank levy

Chancellor raises bank levy by £800million

The Chancellor, George Osborne, has raised the bank levy to be charged against UK banks in the first year by £800million to £2.5billion.

Financial services firms paid a total of £53.4 billion in tax in the 12 months to the end of March.

City of London 'still biggest tax contributor'

Financial services firms based in the City of London contribute more to the exchequer through tax than companies in any other sector, according to a new report.

Reatilers have been urged to prepare for the change in VAT well in advance of it coming into effect.

HMRC: Be prepared for VAT rise, retailers told

Businesses have been urged not to leave their preparations for the change in VAT until the last minute.

Tax Freedom Day to fall on May 30th

The equivalent of 149 days' earnings will go to the taxman this year, making May 30th Tax Freedom Day.

The Lib Dems have revised their mansion tax proposal

Lib Dems double mansion tax threshold

The Liberal Democrats have doubled the threshold at which homeowners would pay an annual "mansion tax" under proposals they announced at their party conference in September.

OECD predicts UK recession

Britain's economy will slip into recession in the second half of 2008, the Organisation for Economic Cooperation and Development (OECD) has predicted.

Cameron and Brown face taxation policy questions

Politicians scratch heads over how to help

Politicians from both Labour and the Conservatives are proposing very different ideas about how to help ordinary people get through the credit crunch this weekend.

Budget 2007 - Impact

myfinances.co.uk brings you a breakdown of how the 2007 Budget will affect your bank balance.

Taxes will rise by £10bn in the next 5 years, IFS calculates

Golden rule means £10bn more in taxes

Taxes will take £10 billion more of your money under the current Treasury projections, a new study claims.

House prices in London went through the Inheritance tax threshold of £285,000 despite a December slowdown

Halifax: House prices down 1% in December

Property prices cooled in December keeping the country's average annual house price inflation at 9.9 per cent, according to Halifax.

50 years of tax rises coming

Taxes could rise for the next 50 years, new figures show.

Stamp duty is the chancellor's 'stealth tax of choice'

Industry outrage at lack of action on stamp duty

Stamp duty is now the chancellor's stealth tax of choice, property experts have said.

Gordon Brown today gave his pre-Budget report

Pre-Budget report - implications

Gordon Brown today gave his tenth and probably last pre-Budget report as chancellor - announcing tax hikes for millions of Britons.

Inheritance tax and stamp duty have soared

Inheritance tax and stamp duty soar

Rising house prices mean the amount of money Britons are handing to the government in inheritance tax and stamp duty land tax has soared in recent years.

The Conservative's tax reform commission has proposed £21bn of tax cuts

Tory tax plans unveiled

Under a Conservative government the basic rate of tax would fall, inheritance tax be abolished, and the point when you start paying basic and higher rates of tax 'substantially' increased, if proposals announced today come into effect.

UK tax burden increases

The amount of tax Britons pay has increased, figures from the Organisation for Economic Co-operation and Development (OECD) show.

The iPod generation face 48 per cent taxes on graduation

Young Brits face 48% tax

The withdrawal of government funding from pensions and university means today's students face taxes of 48 per cent of their income between the ages of 20 and 35.

Taxes have rocketed under Labour [photo:Pixmedia]

Britons stung by higher taxes

Since Labour has come to power taxes have soared, new research finds, but most of these rises have been hidden from the public.

Tax freedom on the horizon

Tax freedom is less than a week away, a new report finds.

Rich and poor remain poles apart

The gap between the richest and poorest Britons remains huge, even after taxes and benefits are taken into account.

Londoners have the most disposable income, but pay the most tax

Londoners have the most spare cash

Residents of inner London have more disposable income than anyone else in the UK, new figures show.

Tax dodgers cost everyone money, HMRC claims in a new campaign

Pay Tax? Nah

People dodging tax are costing us money and should be shopped to the authorities, that is the message of a new campaign by HM Revenue & Customs (HMRC).