Tax hike fears sent consumer confidence down sharply in December, according
A study by the building society observed a five-point drop due to worries
about National Insurance rises announced in the pre-Budget report and the VAT
rate returning to 17.5%.
“The five point fall in confidence in December suggests that an element of
caution may have begun to creep back into the minds of consumers over the
Christmas period,” said Martin Gahbauer, Nationwide chief economist.
“This comes at the end of a positive year for the index, which gained some
upwards momentum in 2009 to help claw its way up from the record low seen in
“However, the looming VAT hike and other tax changes announced in the
pre-Budget report may have impacted on confidence in December, forcing people to
review their expectations for the future.”
A thorough government review into the efficiency of HMRC is badly needed, the president of the ATT has claimed
The authentication service citizens will need to access before entering their digital tax account is close to going live
HMRC is under fire for allegedly obtaining warrants unlawfully for the detainment of four former KPMG partners
Report by the work and pensions select committee fears taxpayers losing retirement savings because of ‘unstable master trusts’