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The Latest Breaking News from Income Tax

Kwasi Kwarteng AXES top income tax rate for highest earners

The Chancellor announced a raft of tax cuts in a mini-budget

Evening Standard

All the changes Kwarteng just announced, including lower taxes and Stamp Duty

Income Tax has been cut

Wales Online

Kwarteng scraps top 45% rate of income tax and cuts stamp duty

Chancellor abolishes cap on banker bonuses, cuts basic income tax and national insurance in mini-budget that favours top earners

The Guardian - UK

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Mini Budget 2022: How Kwasi Kwarteng's huge tax cuts will affect Scots as rich set to benefit

The Chancellor of the Exchequer announced huge tax cuts that will benefit the richest in society.

Daily Record

Kwarteng axes higher income tax for top earners and accelerates 1p cut for all

Chancellor claims abolishing 45p rate – already cut from 50p by George Osborne – ‘will make Britain more competitive’

The Independent UK

Income Tax cut for all Brits by 1p in mini-Budget - as richest get £10,000 a year EACH

Chancellor Kwasi Kwarteng announced a flurry of tax cuts and was jeered by Labour MPs, when he claimed "this is the beginning of a new era" after 12 years of Tory Governments

Daily Mirror

'Decisive action, clarity and simplification' or 'smoke and mirrors': North West business leaders share views ahead of mini-Budget

Leaders from across the region have had their say

Birmingham Post

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Warning to 500,000 Brits before state pension increase in April 2023

Half a million pensioners could come into the income tax net

Liverpool Echo

State Pension increase in April could see half a million more retired people paying tax next year

A significant increase in the number of over-65s paying tax is expected in 2023.

Daily Record

Budget 2023: Thousands in line to receive €500 boost to pay packet

Government officials are considering a change to income tax bands in next week's Budget

Dublin Live

Hundreds of thousands could be about to get €500 boost to pay packet in Budget 2023

Finance Minister Paschal Donohue is expected to increase the 40 per cent income tax band by €2,500, meaning workers won't have to pay the higher tax rate on any earnings below €39,500

Irish Mirror

Warning to 500,000 retired people over new tax payments

With a much larger pension increase expected in April 2023, a bigger jump in the number of over-65s paying tax is expected

Wales Online

Half a million more pensioners ‘could be dragged into tax net’

At a time of soaring inflation, frozen income tax thresholds have a ‘profound effect’, according to former pensions minister Sir Steve Webb.

The Independent UK

Liz Truss pledges to review tax rates amid cost of living crisis

PM’s remarks pave way for radical overhaul that could include rethinking income tax brackets

The Guardian - UK

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The Hindu

After unrecognised parties, now EC takes on discrepancies in recognised parties’ statements

EC wrote to Law Ministry last week to lower limit for declaration of donations from ₹20,000 to ₹2,000

Asharq Al-Awsat

Apple to Hike App Store Prices in Several Countries from Oct

Apple Inc said on Monday prices of apps and in-app purchases on its App Store will increase in several countries including Japan, Malaysia and all territories that use the euro currency, from next month. The new prices, excluding auto-renewable subscriptions, will be effective as early as Oct. 5, Reuters quoted…

Daily Mirror

Mini Budget: Kwarteng to announce £30billion in tax cuts this week to help cost of living

Plans said to be considered by the new Chancellor include bringing forward a 1p cut to income tax, as well as reversing the National Insurance hike and scrapping an increase to corporation tax

Irish Mirror

King Charles and Prince William can avoid paying tax on income after inheriting huge wealth from Queen

Usually, assets worth more than £325,000 are taxed at 40% when inherited by an individual in the UK but King Charles won't have to pay up.

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Newslaundry

Who funds CPR, the ‘centrist’ think tank under Income Tax scanner?

The Centre for Policy Research, which has recently come under the tax scanner for alleged irregularities in funding, prides itself on staying true to its “non-partisan” and “independent” values. Since its inception in 1973, the think tank has undertaken studies on almost every topic under the sun, and its academic…

The Guardian - AU

CEOs of Australia’s top 20 companies given nine times the pay rise of full-time workers

Australia Institute urges 60% income tax on earnings above $1m a year

The Hindu

Concerns over I-T surveys on NGOs raised

The signatories expressed their solidarity with “all of us” and termed the recent actions alarming and unfounded.

The Guardian - UK

King Charles will not pay tax on inheritance from the Queen

Monarch is exempt under 1993 agreement but Charles will pay income tax as his mother did

The Independent UK

Liz Truss energy support package ‘could add 2.5 per cent to interest rates’

‘Sensible’ to use windfall levy or solidarity taxes to limit extra borrowing, says thinktank

The Hindu

I-T survey team took data by cloning server: Oxfam India

In December 2021, renewal of FCRA licence was denied, says Oxfam India

Ballotpedia

Reclaim Idaho withdraws Proposition 1 from the ballot; Idaho legislature sends an advisory question on income and corporate taxes and education funding to voters

On Sept. 7, Reclaim Idaho withdrew Proposition 1 from the November ballot after the state Legislature passed House Bill 1 (HB 1) during its special legislative session on Sept. 1.

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