Happy new tax year?

National Insurance and Income Tax changes in 2022


The start of the new tax year brings with it one of Rishi Sunak’s major tax reforms: the rise in National Insurance, announced last September and linked to additional support for the NHS and social care. This spotlight explores what this rate rise – together with freezes in the Income Tax personal allowance, the newly-announced … Continued

Softening the blow

Looking ahead to Spring Statement 2022


Faced with the highest inflation in at least three decades, the upcoming Spring Statement is bound to provide more support for households. But the precise set of choices – which could include support via Fuel Duty, benefits or National Insurance – will play an important role in determining the force of the cost of living … Continued

Social care

A caring tax rise?

The impacts of a potential increase in National Insurance


The Government intends to increase social care spending and is considering its options, having delayed a decision until the Autumn. They are 100 per cent right to do so. One option under consideration is raising National Insurance to make that possible. They are 100 per cent wrong to do so – because the far superior … Continued

Unhealthy finances

How to support the economy today and repair the public finances tomorrow


This report provides analysis of the dual challenges faced by the government: ensuring that there is sufficient fiscal support through the crisis and recovery, and setting fiscal policy on a sustainable long-term path. Some argue it is unsustainable to provide the massive government support during the crisis, while others see little constraint on government borrowing … Continued

Passing on: options for reforming inheritance taxation


Inheritances are growing rapidly in importance at the same time as fiscal pressures mount. But the current inheritance tax system manages to raise relatively little while also being especially unpopular. This paper proposes a Lifetime Receipts Tax that would address Inheritance Tax’s problems while also raising more revenue and encouraging individuals to spread their wealth more widely.

The million dollar be-question: inheritances, gifts, and their implications for generational living standards


This report assesses the role that intergenerational family transfers – inheritances and gifts – play in Britain. It provides a detailed assessment of past gifts and inheritances, and estimates the timing and distribution of future intergenerational transfers of property wealth to the millennial generation.

Double take: workers with multiple jobs and reforms to National Insurance


The tax treatment of workers with multiple jobs may be reformed as part of proposals by the Office of Tax Simplification (OTS) to more closely align National Insurance (NI) and income tax. The current system of NI largely operates on a per job – rather than per person – basis, allowing a worker with two … Continued

Save it for another day: pension tax relief and options for reform


The Treasury has reportedly backed away from pension tax reforms, at least temporarily. Given the scale of existing tax relief, its particular benefits for higher income savers, and the potential wider impact of any change, this is perhaps understandable. But there remains a strong case for making the current system cheaper, fairer and better targeted. … Continued


2012 Personal Allowance Tax Changes


The income tax personal allowance is set to increase to £8,105 in April 2012, rather than the £7,900 it would have been if increased in line with September’s RPI. But small changes across tax credits mean losses for many low to middle income households. Read our analysis of the changes to the personal allowance and … Continued

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