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Windfall taxes

Thousands of people NOT eligible for council tax rebate to get £150 – how to apply

July 5, 2022 by www.thesun.co.uk

THOUSANDS of people who are not eligible for a council tax rebate could still get up to £150 free cash to help with the cost of living crisis. Four in five households are now receiving council tax rebates automatically - the giveaway is part of a package of measures from the Government to help struggling households across the UK. You must be in council tax bands A-D to qualify for the payment, which was announced by the government in February to help with the cost of living crisis. While households who pay their council tax by direct debit will get the money automatically, others will have to apply. The deadline for this has now been extended until roughly September 30, 2022. But the longer you leave it, the longer it will take for your money to come through. Read More On Council Tax TAX TRIM Four ways including Universal Credit which could mean you pay NO council tax pay day Exact date households MUST apply for … [Read more...] about Thousands of people NOT eligible for council tax rebate to get £150 – how to apply

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Pakistan stock market plunges on new govt tax on industries

June 24, 2022 by www.independent.co.uk

Pakistan’s stock exchange briefly halted trading Friday after its benchmark index plunged sharply following an announcement by the newly elected Prime Minister Shahbaz Sharif that he was imposing a new, 10% tax on major industries. Sharif, who appeared on the state-run Pakistan Television TV and almost all other stations in the country, warned that the economy was on the verge of bankruptcy. He said he was taking the measures to “save the country and avoid further taxes on the poor." The new tax would apply to industries such as cement, steel, sugar, banking, textile and others. There would also be new, graduated taxes on the wealthy. The measures are expected to go into effect on July 1, following approval by parliament. Following the broadcast, the Karachi Stock Exchange benchmark index, known as KSE-100, plunged more than 2,000 points or 4.8%, sending the market into shock and forcing administrators to briefly halt the trading. It was the last working day of … [Read more...] about Pakistan stock market plunges on new govt tax on industries

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Cost of living: ‘Biggest tax cut in a decade’ takes effect to help 30 million people

July 6, 2022 by news.sky.com

The amount you can earn before having to pay national insurance (NI) has been raised from today, a move Boris Johnson has described as the "biggest tax cut in a decade" to help with the rising cost of living. The government says 30 million people will benefit to the tune of £6bn collectively from the shift in the threshold, which has risen from £9,880 to £12,570. It would save a typical worker £330 over 12 months and take 2.2 million people out of paying NI contributions altogether. The PM told his cabinet on Tuesday - just hours before the shock resignations of Sajid Javid and chancellor Rishi Sunak - that the measure was part of a £37bn package of support the government had put in place to help families face down the rising tide of everyday expenses from fuel and food to household energy. Read more: How does the NI change affect you? Advertisement The rate of inflation has hit levels not seen for 40 years - and is set to surge further … [Read more...] about Cost of living: ‘Biggest tax cut in a decade’ takes effect to help 30 million people

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John Bercow walks away with tax-payer funded £1 million pension

September 10, 2019 by www.express.co.uk

Nigel Farage reacts to John Bercow resignation announcement Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Mr Bercow’s retirement package is believed to be one of the most generous in the country and will pay him £38,000 a year when he retires. Yesterday the Commons Speaker said he would quit in the event of MPs voting for a general election next month and if not he will stand down on October 31, the current Brexit deadline. In 2012, Mr Bercow refused to follow Gordon Brown and David Cameron who gave up the non-contributory pension which was given to former Prime Ministers and Speakers. Related articles Lindsay Hoyle wife: Meet the woman behind potential … [Read more...] about John Bercow walks away with tax-payer funded £1 million pension

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Kremlin slashes spending by £24bn as West’s sanctions batter Russia

July 4, 2022 by www.telegraph.co.uk

City banks defy Brussels to out-earn French rivals PM urged to back bid for factory at heart of Britain’s food supply FTSE 100 rises 1pc Matthew Lynn: Biden’s global tax plan is sinking rapidly — and good riddance Sign up here for our daily business briefing newsletter T he Kremlin is poised to cut future spending plans by £24bn as Western sanctions against Russia bite. Defence, technology and transport budgets are all set to be trimmed, according to Russian media. More than 1.6 trillion roubles, or £24bn, has been slashed from the Russian state budget over the next three years as Moscow braces for a two-year recession. Spending will be 557bn roubles (£8.2bn) lower in 2023 than previously approved plans, with similar cuts pencilled in for the following two years. The budget tweaks are minor compared to the size of Moscow’s overall budget but the figures are one of the first signs of the fiscal blow being dealt by the conflict in Ukraine. The 2023 … [Read more...] about Kremlin slashes spending by £24bn as West’s sanctions batter Russia

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‘Trying to make the Mountbatten diaries public cost me my inheritance’, says historian

June 30, 2022 by www.telegraph.co.uk

A royal biographer who fought the Government to make the Mountbatten diaries public has revealed that the crusade has cost him his inheritance, after a legal appeal failed. The University of Southampton used £2.8 million of taxpayers’ money to buy Lord and Lady Mountbatten’s diaries, with the promise of making them publicly available, but the archive remained sealed and the Cabinet Office blocked their release despite repeated requests for access from royal biographer Andrew Lownie. Mr Lownie spent £350,000 on a four-year legal battle against “censorship” to ensure the diaries of the Queen’s cousin were made public, and now his application to claim costs from the university and the Cabinet Office has now been refused, leaving his inheritance “completely cleaned out”. The royal biographer said the funds left by his mother had been exhausted in the struggle for access to the diaries, adding: “It took me, a private citizen, over four years and £350,000 to demolish this. “That … [Read more...] about ‘Trying to make the Mountbatten diaries public cost me my inheritance’, says historian

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Families on low incomes suffering ‘year of financial fear’ – charity

June 28, 2022 by www.independent.co.uk

Families on low incomes are enduring a “year of financial fear” and making grim choices such as falling behind on bills, going without essentials or taking on expensive debt, a report has found. The Joseph Rowntree Foundation (JRF) said the cost-of-living crisis and a decade of social security cuts and underfunding are taking a heavy toll. It used a survey of about 4,000 people on low household incomes in May and June (the bottom 40%, which equates to an income of under £25,000 for a couple with no children), for the report. Rather than making the trade-off between heating or eating, one in five (21%) low income households were unable to do either – going without enough food as well as being unable to keep their homes warm, researchers found. Six in 10 (60%) had gone without essentials since the start of 2022, or, had cut down on or skipped meals, or gone hungry in the previous 30 days. Recommended Over £130m handed to housing providers named and … [Read more...] about Families on low incomes suffering ‘year of financial fear’ – charity

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High inflation and higher interest rates still to come, banking chief warns

July 5, 2022 by www.newsweek.com

After enduring six months of rising inflation , Americans could feel the pinch even more in the second half (H2) of the year, according to one banking expert who has warned that the country's economic turmoil is about to get even tougher. The annualized rate of inflation recorded its highest jump in May since 1981 as the administration of President Joe Biden faces pressure over how to curb soaring costs, exacerbated by record gas prices being blamed on the Ukraine war . Adding to the bad economic outlook was the news last week that at 20.6 percent, the S&P 500 endured its largest first half decline since 1970. But inflationary pressures are likely to get worse, according to HSBC's global chief strategist Joe Little who said that the era of historically low inflation and interest rates was over. "Any of the tailwinds for investment markets are now becoming headwinds," he told CNBC on Tuesday. "That points to a phase of ongoing market turbulence." The network reported … [Read more...] about High inflation and higher interest rates still to come, banking chief warns

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Can’t “out-budget” inflation? Here are things you can do

July 5, 2022 by www.cbsnews.com

Inflation is a nightmare for the many Americans who already stretch their dollars to cover basic needs. What happens when those dollars lose value? They have to make difficult trade-offs, beyond cutting streaming subscriptions or purchasing cheaper, store-brand groceries. Instead, Americans coping with high inflation may now be have to choose between buying enough food and paying rent. The families hit hardest by inflation typically have little in savings and few back up resources. Their limited financial means can be rooted in historical inequality, said Phuong Luong, a Massachusetts-based certified financial planner and founder of financial education firm Just Wealth. When inflation causes everything to become more expensive, for families of limited means, basic necessities can become unaffordable. You may have to scrape together cash to support yourself as well as extended family members. Perhaps you have to spend money and time traveling across town to the grocery store … [Read more...] about Can’t “out-budget” inflation? Here are things you can do

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Premier League international re-arrested on suspicion of two more rapes against different woman

July 5, 2022 by www.thesun.co.uk

A PREMIER League international footballer arrested on suspicion of rape has been re-arrested for two more attacks against a different woman. The player, who is in his late 20s and is due to play at the World Cup in Qatar in November, was detained yesterday after six police cars swooped on a gated North London address. Scotland Yard confirmed the footballer, who cannot be named for legal reasons, was taken into custody and subsequently bailed until August. He was quizzed for at least 15 hours over an alleged attack which is said to have taken place during a holiday in the Mediterranean last month when two further allegations came to light. Cops today said the man had been further arrested on suspicion of two incidents of rape in 2021 against a different woman. A Metropolitan Police spokesperson said: "On 4 July, an allegation of rape of a woman in her 20s was reported to police. Read more football news GLOBAL CITIZENS Man City owners … [Read more...] about Premier League international re-arrested on suspicion of two more rapes against different woman

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