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King Charles’ £12.9m tax bill King Charles’ £12.9m tax bill: what it really tells us Who benefits from a £12bn VAT cut for hospitality? Who benefits from a £12bn VAT cut for hospitality? Venables prosecution The Venables prosecution – Tax Policy Associates Has Britain run out of “other people” to tax? Has Britain run out of “other people” to tax? Nigel Farage’s £5m gift Nigel Farage’s £5m gift: why tax is probably not due
redacted tax return
Jun 26, 2026 Analysis

The Palace’s fake tax transparency — and the Prince of Wales’ real tax problem

The Royal Household has, for the first time, disclosed how much voluntary “tax” the King pays: £12.9m for 2024/25, £11.7m for 2023/24, and a little over £5.4m for the six months of 2022/23 in which he was King. The documents also continue the practice of disclosing the Prince of Wales’ tax: £7.76m for 2024/25, £8.34m […]
CGT over time - the chart looks like someone having a heart attaack
Jun 18, 2026 Policy

The history of UK capital gains tax in five charts

This article looks at the history of UK capital gains tax, and how revenues have changed when the rate and rules changed. There’s a separate article on reforming CGT here. The chart at the top of this page shows what happens if you plot UK capital gains tax revenues as a % of GDP since […]
Who benefits from the VAT cut? Micro up to 9 employees Small £1,900m 10-49 employees £2,280m McDonald's £432m Mitchells & Butlers ee 248m aE Whitbread £238m Medium —— soo King 50-249 employees Ss Wetherspoon £1,470m Ps WS £194m Other larg 250+ employees £2,014m Compass KFC Stonegate Domino's Uber Eats fees Nando's Deliveroo fees Just Eat fees IHG hotels Greggs Marriott hotels Accor hotels @ Hilton hotels
Jun 12, 2026 Policy

The £12bn VAT cut for hospitality. Who really benefits?

The hospitality industry is lobbying for a VAT cut from 20% to 10%. The political case is simple and compelling: save pubs, restaurants, cafés and hotels; protect jobs; save high streets. The campaign says it’s self-funding and pro-growth. The reality is different. It’s a hugely expensive subsidy, likely costing more than £12bn a year. 45% […]
Telegraph headline: Chancellor’s stamp duty raid backfires as sales slump
Jun 9, 2026 Policy

Why do we still have stamp duty?

The Housing select committee has said stamp duty does economic damage and should be reformed. The Telegraph says the stamp duty increase last year “backfired”: transactions slumped, and receipts fell with them. I wish that was right, because there would then be an easy argument to reverse the increase, and even abolish the tax. But […]
A crowd of people
Jun 5, 2026 Policy

Has Britain run out of “other people” to tax?

British politics has spent a generation avoiding the same uncomfortable question: what if the government people want costs more than most voters are willing to pay? The answer, from Labour and the Conservatives alike, has been to tax “other people”. Higher earners. Banks. People with capital gains, second homes, large pensions, non-dom status, inherited wealth […]
Humble address
Jun 1, 2026 Analysis

Search the Mandelson Government documents

At 2.30pm today, the Government published a series of documents relating to the appointment of Peter Mandelson as His Majesty’s Ambassador to Washington. This is in the form of three PDF files, each with multiple messages, and about 1,500 pages in total. It’s not very easy to navigate through – we’ve created a simple search […]
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