John Healey's first Budget, the first of Andy Burnham's government, is best read as a fiscal-tightening event with a high chance of targeted changes rather than a simple rise in headline rates. Three points frame everything else. The room to manoeuvre has shrunk. Headroom against the fiscal rules was above £24bn in March. Since then gilt yields, higher borrowing and new commitments have eaten into it: ITEM Club puts it at just over £10bn, and the Resolution Foundation has sug

If you sell or otherwise dispose of UK property, you may have to report the disposal to HMRC and pay Capital Gains Tax (CGT) within 60 days of completion. The rules differ depending on whether you are UK resident or non-UK resident. Missing the deadline can result in penalties and interest, so it is important to establish whether a return is required as soon as a property sale completes. Key facts UK residents generally have to report a disposal of UK residential property wit

Capital losses that cannot be used in the tax year in which they arise can generally be carried forward indefinitely and set against capital gains in future tax years. However, the loss must first be reported to HMRC within the applicable time limit. Key Points Unused allowable capital losses can generally be carried forward indefinitely until they are used. A capital loss must normally be reported to HMRC within 4 years after the end of the tax year in which the disposal giv

With the 2025 Budget scheduled for Wednesday, 26 November, there are plenty of rumours about potential tax increases. With UK borrowing costs at their highest in 27 years, the Chancellor faces the challenge of boosting the economy while striving to "balance the books." This series of articles explores how the Chancellor might tackle this issue without breaking the Labour Party Election Manifesto pledge to avoid raising taxes on working people. We begin by focusing on area

The Treasury has dismissed recommendations from the Office of Tax Simplification (OTS) to allowing capital gains tax with income tax,...