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Finance Monthly > Archives

Is Tax avoidance a big problem in the UK?

14th June 2024
The political parties have stated their plans to clamp down on taxing the wealth and setting in place extra regulations to stop tax avoidance. But why does this need to happen, how common is tax avoidance in the UK?   Tax Avoidance and Evasion Statistics There is a £4.6 billion tax gap which is due […]
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The price Foo Fighters fans pay and the risk of resale!

14th June 2024
Foo Fighters are in full swing of their Everything Or Nothing At All 2024 tour to mark their 11th album and their first show since Taylor Hawkins, their drummer died in 2022. Their tickets sold out in minutes after their release with fans waiting in online queue for hours in hopes of a chance to […]
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Rishi Sunak is rich, but is Keir Starmer rich too?

13th June 2024
As the UK election passes the halfway point, much of the focus has been on tax cuts and the economy, aside from Rishi Sunak's notable decision to leave the D-Day remembrance services early. With both leading parties trying to make the election about policies rather than personalities, it's hard to overlook just how much money […]
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Labour manifesto means more promises with little evidence

13th June 2024
Labour are promising to grow the economy and pull the UK out of the crisis they argue the conservative led the country to. They will do this by prioritising funding into areas that need it, education, the NHS and working people.   They have pledged to end the tax exemptions for private school and start […]
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Key Policy Recommendations for the 2024 UK General Election

13th June 2024
Richard Otoo and Bhagirath Jain from the Tax and Accountancy Clinic based at the Royal Docks School of Business and Law at the University of East London outline key policy recommendations for the 2024 UK General Election, emphasising tax simplification, SME support, innovation funding, regulatory reforms, and green investments to drive economic growth and sustainability. Tax Simplification and […]
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Liberal Democrats promises for the economy

13th June 2024
NHS They have pledged to increase NHS funding by £9.4bn. This will be used to increase the number of GPs by 8000 full time, qualified members. Giving Pharmacists the right to prescribe some medication in order to free up GP time and speeding up appointment waiting times. They plan to bring down waiting times for […]
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Smart Tech Solutions for Savvy Seniors: A 2024 Guide

13th June 2024
Technology is a beautiful thing that can benefit humanity. It continues to reshape every aspect of our lives, including how senior citizens care for themselves and function in society. There is plenty of innovation in the active-aging field. The US active-aging industry, which includes smart living technologies, health care, safety devices, and wellness tech, is […]
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VAT on Private schools and what this could mean?

13th June 2024
As part of their promises Labour have included a VAT on Private schools and the end of their business rate relief. This would be a 20% VAT charge for all private schools which they currently do not pay. Labour expect this policy to raise £1.7bn in funds with which they plan to spend on state […]
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What is GDP?

13th June 2024
Trying to be informed about finances and the economy can become challenging when abbreviations are used and not explained.   GDP stands for Gross Domestic Product. This has become an abbreviation used to reference a point for the health of national and global economies. So, when GDP is growing this will mean workers and businesses […]
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Green party promises for the economy

12th June 2024
The Green Party Promises   Taxes Raise National insurance to 8% for people earning over £50,270, this would affect less than 5m people. Someone earning £55,000 will pay £5.46 more a week or £283.74 a year.   Introduce a 1% wealth tax on assets over £10m and 2% for those over £1bn.   The promised […]
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How much National debt does the UK have?

12th June 2024
How much debt does the UK have? In the year ending March 2024, the ONS reports that the government borrowed £121.4bn. The report showed that the government borrowed £7.3b more than the £114.1b forecast by ONS. Overall, National debt has reached levels of £22.7 trillion which has been built up over the years. ONS report […]
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What is Stamp Duty and how much do I pay?

12th June 2024
When you buy a residential property such as a new home you will have to pay stamp duty, a tax to transfer the ownership of the property. Stamp duty is another part of buying a house you need to be aware of and make sure you know how much you have to pay.   How […]
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