Taxation in the United Kingdom

Faced with a sharp decline in mergers and acquisitions, the government is providing more generous tax incentives to encourage them. It also wants to reward companies that invest heavily in research and development.

After a record tax haul in 2024, the Ministry of Finance is preparing for yet another all-time high, around €65-66 billion or even higher, in 2025.

The draft 2025 budget will predict tax receipts rising by at least €2 billion. And this time the extra haul will come from income taxes, not value-added tax or special consumption taxes.

An organized criminal group comprising Bulgarian citizens has been implicated in what authorities describe as the largest welfare fraud scheme in the legal history of Great Britain. The group, which operated between October 2016 and May 2021, has pleaded guilty and is set to stand trial in May for embezzling more than 50 million pounds, according to a report by Sky News.

The increase to be announced is at 6.5% – How 19 allowances are affected

Cyprus' Cabinet approved several important measures on Wednesday, including a bill on tax rebates for businesses for energy upgrades, an extension of the tax payment deadline and a suspension of the obligation to file tax returns for individuals with a taxable income below 19,500 euros.

With the pre-election race heating up in Greece, the three largest political parties are seeking to highlight their tax policies.

Frontrunner New Democracy wants an increase in the tax-exemption limit for families with children, the gradual abolition of the fee for practicing a profession ("telos epitidevmatos") and a reduction in documentation requirements.

The tax administration will target the expenditure declared by the self-employed and freelancers, with the aim of reducing tax evasion and increasing their taxable income.

According to Finance Ministry data, the self-employed have a gross income of 35-40 billion euros per year, while their taxable income is less than 10 times that as it does not exceed €4 billion.

The new cycle of subsidies for tourism investments has begun, only this time it excludes business plans on Mykonos and Santorini.

It includes tax subsidies and other incentives, and depending on the size of the business and the region where the business plan is developed, provides help from 25% to 75%.

The Finance Ministry and the tax administration are looking for solutions so that professionals stop hiding their actual incomes - i.e. taxable material - through fictitious expenses. 

The process of transferring real estate is being gradually simplified with the abolition of certificates and the gradual activation of the electronic system implemented by the Ministry of Digital Governance.

The tax administration has just abolished the certificate on nonpayment of inheritance tax on real estate purchases.