Ministers also asked to alter compensation rights and suspend emissions trading scheme amid Middle East warAirlines are lobbying the UK government to relax environmental and noise rules, modify passenger rights and cut taxes on flying, as they prepare for higher costs and a possible shortage of jet fuel because of the war in the Middle East.A list of policy requests submitted to ministers and the aviation regulator includes suspending the emissions trading scheme and relaxing limits on night flights, it has emerged. Continue reading...
HMRC confirms it will fight London tax tribunal’s finding that it has been overcharging for years under the lawEV charging shake-up looks to help UK households solve off-street parking problemThe UK’s tax authorities have decided to fight against a ruling that would cut VAT across all public electric car chargers, despite a judge finding they have been overcharging for years under the law.Charge My Street, a not-for-profit charging company, last month argued successfully that VAT should have been charged at 5%, rather than 20%, in a case at a London tax tribunal that could have a significant impact on electric car drivers’ costs. HM Revenue and Customs on Tuesday confirmed it will appeal against the ruling. Continue reading...
ACT independent David Pocock is calling for a 25% tax on gas exports to fund welfare and housing. Follow today’s news liveGet our breaking news email, free app or daily news podcastLabor should use the proceeds of limiting tax concessions for property investors and a crackdown on gas export profits to fund welfare increases and build housing, charities and social service groups say.Ahead of next month’s federal budget, the Albanese government is under pressure to wind back negative gearing rules and the 50% capital gains tax discount for property investments, and to tax more of the profits from soaring commodity exports, pushed up by the global energy shock.People on the lowest incomes are skipping meals, delaying medical care and rationing energy just to get by.Frontline services are operating at capacity, facing growing demand and increasingly complex needs. Current policy settings are not meeting the needs of our communities – it’s clear that significant and sustained public investment is essential. Continue reading...
Deputy leader ran shell companies that reportedly did not pay tax on profits from 2020 to 2022, during which time his firm donated £1.1m to partyRichard Tice allegedly failed to pay almost £100,000 in corporation tax to the benefit of his investment company, which in turn made donations to Reform UK, it has been reported.In response to the report in the Sunday Times, the deputy leader of Reform UK posted a lengthy statement on X, in which he said: “A long career with multiple businesses is bound to feature some errors. Naturally I am always happy to put things right and if numbers need rechecking, of course I will pay what is owed – be that more or less.” Continue reading...
Chancellor aims to curb rising household bills as she consults on reforms to weaken link between gas and electricity pricesRachel Reeves is poised to raise the government’s windfall tax on low-carbon electricity generators to help to limit UK household energy bills, the Guardian understands.The chancellor is ready to hike the levy introduced in 2022 to target the excess profits made by the owners of older renewable energy and nuclear plants as electricity market prices soared after Russia’s full-scale invasion of Ukraine. Continue reading...
Republicans had hoped that Trump’s 2025 tax cuts would be at the forefront of voters’ minds, but many have reportedly not noticed a differenceSign up for the Breaking News US emailHello and welcome to the US politics live blog.It is Tax Day and Republicans are ramping up their efforts to highlight last year’s sweeping tax cuts and turn them into political capital.Eric Swalwell officially resigned from Congress amid the threat of an expulsion vote and other misconduct allegations he has denied. A special election to fill his vacant seat will be held 18 August. At a Los Angeles press conference this morning, Lonna Drewes accused Swalwell of drugging and raping her in 2018, telling reporters she “did not consent to any sexual activity.”The House still needs to pass a bill to fund several Department of Homeland Security (DHS) subagencies, like the Transportation Security Administration (TSA) and the Coast Guard, amid a record-breaking partial government shutdown. The Senate advanced measure that remedies this funding lapse, but doesn’t include money for Immigration and Customs Enforcement (ICE) and border patrol, has stalled in the lower chamber.Meanwhile, House Democrats on Tuesday proposed creating a commission that would work with JD Vance to remove Donald Trump from office under the 25th amendment, should they determine he is no longer fit to serve. The measure, introduced by Jamie Raskin, the top Democrat on the House judiciary committee, follows a series of statements from Trump, including his recent warning that Iran’s “whole civilization will die” if it did not capitulate to his demands, and a social media post that depicted him as Jesus Christ.Donald Trump has said that talks with Iran could resume in Pakistan over next two days, according to an interview with the New York Post. “You should stay there, really, because something could be happening over the next two days, and we’re more inclined to go there,” Trump was quoted as saying.The US state department said Tuesday that Israel and Lebanon have agreed to launch direct negotiations at a mutually agreed-upon time and place. The state department “expressed hope” that the meeting between Israel and Lebanon would “lead to peace agreement”.The Senate will hold its confirmation hearing for Kevin Warsh, the president’s pick to fill the vacant seat of Federal Reserve chair, next week, on 21 April. Both Republicans and Democrats on the Senate Banking Committee are expected to probe Warsh about his wealth and ties to convicted sex offender Jeffrey Epstein, as well as his views on the Fed’s independence.The justice department has asked a federal appeals court to throw out the seditious conspiracy convictions of several leaders of the Proud Boys and Oath Keepers, who were involved in the January 6 attack on the US Capitol. In a court filing today, the department asked the US Court of Appeals for the District of Columbia Circuit to vacate the convictions – a step further than moves Donald Trump made to commute the leaders’ prison sentences last January when he granted clemency to all defendants charged in the attack. Continue reading...
Former Treasury secretary says a tax rate was ‘socially optimal’ in submission to a new parliamentary inquiryFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe former Treasury secretary Ken Henry says “self-serving” claims from gas giants about the risks of a windfall profits and export taxes should be ignored by the Albanese government as it weighs up the intervention ahead of next month’s federal budget.In a submission to a new parliamentary inquiry examining the gas taxation regime, Henry made the case for a 100% windfall profit tax as he rejected the assertion that any changes would heighten perceptions of Australia as a sovereign risk and freeze investment in new projects. Continue reading...
Labor is under pressure to impose a new 25% export tax amid soaring prices from the global fuel shockGet our breaking news email, free app or daily news podcastThe bosses of resources giants including Santos, Woodside, Chevron and Shell could be compelled to face an inquiry into export tax settings, as the Greens ramp up pressure on Labor ahead of the budget.The chief executives of the companies, along with the bosses of gas exporters Inpex and ConocoPhillips, have been requested to give evidence to a Greens-led inquiry sitting in Canberra and Perth later this month. Under Senate rules, they could be compelled to attend if they choose not to give evidence voluntarily. Continue reading...
Report says company did not pay tens of thousands in tax on dividends given to Reform UK deputy leader and trustRichard Tice’s company has been accused of breaking the law by allegedly failing to pay tens of thousands of pounds in tax on dividends that were paid to him and his offshore trust.Reform UK’s multimillionaire deputy leader is alleged to have received at least £91,000 in excess payments as a result, the Sunday Times reported. Dan Neidle of Tax Policy Associates – whose analysis was cited by the newspaper – said that further analysis suggested that the total in tax that should have been paid by Tice’s company was about £120,000. Continue reading...
Exclusive: US state is targeting corporate heavyweights in the UK with subsidies and incentives Y’all Street: Bullish Dallas aims to steal New York’s crownThe US state of Texas is putting UK businesses in its crosshairs with the launch this month of a dedicated London office to lure jobs and investment to the low-tax Lone Star State.Texas recently secured approval for the new site, adding to a growing list of international offices from which it can try to draw corporate heavyweights across its borders. Continue reading...
