Hit by the savings tax trap: Double whammy of low rates and HMRC delay

More than 700,000 savers could be paying too much tax after interest rates plunged to record lows. It is yet another blow for beleaguered savers already struggling to earn an income from their nest eggs.  And long delays at HM Revenue & Customs (HMRC) means anyone attempting to correct their tax code and claw back … Read more

ALEX BRUMMER: Double business tax whammy will make UK less competitive

One might have thought that after 17 major announcements since lockdown, Rishi Sunak has said everything there is to say about the economy. Not a bit of it. Today sees the launch of Tax Policy & Consultations Day, or TPAC as the accountants call it. The idea is to bring together in one co-ordinated package … Read more

Watchdog warns of Covid double whammy with higher council tax bills and poorer services

We’ll pay more council tax… for WORSE services: Watchdog warns of Covid double whammy as it emerges local authority budgets took a £9.7billion hit from pandemic The National Audit Office said the pandemic had left some councils at risk of ‘financial failure’, creating £6.9billion in additional costs in 2020/21  The Government has announced £9.1billion in … Read more

UK plc ‘faces double whammy of Covid and no-deal Brexit’

The UK was today warned it faces a double whammy of one of the worst coronavirus hits of any major economy – while businesses that have ridden out the crisis could be hammered by the failure of EU trade talks. The latest outlook from the OECD suggests Britain will be affected more dramatically than most … Read more