Commenting on Chancellor Rachel Reeves’ recent Autumn Budget, the International Monetary Fund (IMF) stated the tax increases announced will ‘boost growth sustainably’.
The IMF said it approves of the UK government’s plans to ‘boost growth through a needed increase in public investment, while addressing urgent pressures on public services’.
An IMF spokesperson said: ‘We support the envisaged reduction in the deficit over the medium term, including by sustainably raising revenue.’
The Chancellor recently conceded that her Budget measure to raise employer National Insurance contributions (NICs) will lead to employees being paid less. Paul Johnson, Director at the Institute for Fiscal Studies (IFS), commented that ‘if you are to lean on one of the big three [taxes] then employer National Insurance is definitely not the best place to go’.
07/11/2024
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27/08/2025
HMRC targets personal expenditure
HMRC will run a digital campaign to ensure that self assessment taxpayers do not claim tax relief for personal expenditure on 2025/25 tax returns, according to the ICAEW.
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HMRC cuts late payment interest
HMRC will reduce late payment and repayment interest rates from 27 August following the 0.25% cut in the base rate earlier in the month.
Child Benefit claims deadline approaching
Parents have less than two weeks to tell HMRC their 16-19-year-old is continuing education or training, or their Child Benefit payments will stop.
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