Archive:August 2025

Please find below all the articles from August 2025.

Just how many of the super-rich are fleeing the UK over tax hikes?

Friday, August 1, 2025

Concerns over Chancellor Rachel Reeves’ tax policy shift, scrapping tax benefits for non-domiciled residents (non-doms),
has prompted concern amongst high earners. Legal experts warn that UK-based wealthy individuals – not just non-doms – are now considering leaving the UK to reduce their tax liabilities.

Some believe the policy change could cost the Treasury up to £12.2 billion by 2030, despite increased scrutiny from HMRC, especially around statutory residence tests and claims of full-time
overseas work, to ensure the correct amount of tax is collected.

However, claims…

Billions paid into cash ISAs

Friday, August 1, 2025

UK savers deposited a record £14 billion into cash ISAs in April 2024, the highest monthly figure since ISAs were introduced in 1999.
The surge is attributed to fears of potential changes to ISA rules under Chancellor Rachel Reeves.

Speculation arose that Ms. Reeves might reduce the tax-free allowance for cash ISAs. Although she confirmed the £20,000 annual ISA limit will remain, she hinted at curbing the cash portion
to encourage investment in stocks and shares.

Ms. Reeves aims to boost economic growth by shifting savings…

Tax raid pulls in £300 million less than predicted

Friday, August 1, 2025

Chancellor Rachel Reeves’s £25 billion National Insurance hike brought in £300 million less than expected in its first two months. PAYE
income tax and employer NI contributions totalled £37.2 billion in May – up 9.5% from last year but £200 million below forecast.

May borrowing hit £17.7 billion, exceeding the OBR forecast by £600 million and up £700 million from last year. Despite higher tax receipts (£82.5 billion in May), spending outpaced revenue
due to inflation-linked benefit increases and running costs.

Given the shortfall in expected…

“Time for a wealth tax”, say the rich.

Friday, August 1, 2025

The 2025 Sunday Times Rich List reveals that a small group of 350 families
control £772 billion in wealth – enough to fund the UK’s annual healthcare budget three times over.

The group Patriotic Millionaires is urging the UK government to introduce a wealth tax to address inequality and invest in public
services like the NHS. Julia Davies, a member of the group, argues that concerns over billionaires leaving the UK are misplaced and
that focus should shift to real issues like healthcare.

Here’s a structured…