Tax

Taxes to rise unless HMRC given powers to raid accounts of tax evaders

Prime Minister David Cameron has warned that the government would have to hike taxes unless HM Revenue & Customs (HMRC) is provided with new powers to raid bank accounts of tax evaders.

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Ed Miliband pledges crackdown on empty homes hoarded by wealthy investors

Labour leader Ed Miliband has pledged crackdown on "ghost homes" hoarded by wealthy investors and absentee owners across England.

Mr. Miliband said that tax would be imposed on all empty homes to discourage hoarding of homes by the wealth and absentee owners. He also promised that he would close loopholes that allow some people to avoid council tax on empty homes.

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Boris slams financial transactions tax as threat to London

London Mayor Boris Johnson has criticized the new tax on financial transactions (FTT), saying it would drive business out of the European Union.

Mr. Johnson also raised concerns about how the U. K. would safeguard its financial services sector after the European Court of Justice's ruling against the country's challenge to the tax, even as the U. K. is not in the euro zone.

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Govt. should levy a windfall tax on payday loan firms: IPPR

The U. K. Government should levy a windfall tax worth £450 million on payday loan companies and the money should be used to support an expansion of other forms of credit, a leading think tank has suggested.

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Starbucks to pay more tax to British government

Starbucks has said that the shifting of its regional base from Amsterdam to London will mean the company will pay more tax in the UK and less in the Netherlands but it will relatively be neutral on the global level.

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