Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 24th March , 2023

A third of high earners risk slipping into 45% tax band One in three high earners including many in the motorsport sector unknowingly faces paying the top 45% tax rate next month. As of April, the 45% tax threshold will [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 23rd March , 2023

Tax increase to cost households extra £4,200 by 2025 Analysis suggests that the average household will pay £4,200 more in personal taxes over the course of the parliament. The Resolution Foundation has calcul[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 22nd March , 2023

Inheritance tax (IHT) receipts in February totalled £531m, bringing in a record for the year so far at £6.4bn Total tax receipts for the year April 2022 to February 2023 totalled £722.6bn, which [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 21st March , 2023

Tax system reform call John O’Connell, chief executive of the Taxpayers’ Alliance, has called for fundamental reform of the tax system, saying the tax code is “riddled with such complexity that few mer[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 20th March , 2023

Wage inflation pushes thousands over the higher threshold Data from HMRC reveals the total number of workers paying the 40p rate of income tax has risen to 4m with fiscal drag carrying about 100,000 workers into higher-r[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 17th March , 2023

IFS: Higher taxes are here to stay The Institute for Fiscal Studies has warned that an era of low taxes is coming to an end. Paul Johnson, the director of the economic think-tank, says that with neither ministers nor the[...] continue reading