The UK’s tax system should be overhauled to bring rates on wealth and assets into line with those on income, according to a report from the Institute for Public Policy Research (IPPR). The report claims that bringing taxation for assets into line with income tax rates could raise over £90 billion over the next five… Read more »
Blog
Friday 20th of September 2019
Former NAO chief to lead independent review of loan charge
Sir Amyas Morse, the former Chief Executive of the National Audit Office (NAO), will head up an independent review into the controversial loan charge, which will be published by the middle of November. The review, which was commissioned on 11 September by Chancellor Sajid Javid, will consider whether the policy is an ‘appropriate way of… Read more »
Friday 20th of September 2019
ICAEW calls for delay to off-payroll working changes
The extension of off-payroll working rules to the private sector should be delayed by a year, according to the Institute of Chartered Accountants in England and Wales (ICAEW). The ICAEW says the start date should be pushed back to 6 April 2021 to give all stakeholders – including HMRC – time to prepare. From April… Read more »
Friday 13th of September 2019
Tax on sugary snacks ‘could be more effective than Soft Drinks Industry Levy’
Experts have suggested that a tax on sugary snacks could be ‘more effective’ than the Soft Drinks Industry Levy. Researchers compiling evidence for the British Medical Journal (BMJ) have suggested that a 20% ‘snack tax’ would have a ‘huge impact’ on obesity levels in the UK. According to the BMJ, taxing high sugar snacks such… Read more »
Thursday 12th of September 2019
FSB calls on government to tackle ‘business crime crisis’
The Federation of Small Businesses (FSB) has called on the government to make tackling business crime a priority. The business group has urged the government to hire ‘thousands more police officers’ in order to help combat business crime. Research carried out by the FSB revealed that almost half of small businesses in England and Wales… Read more »
Wednesday 11th of September 2019
Chancellor claims ‘austerity is over’ as he unveils Spending Review
In his Spending Review, Chancellor Sajid Javid said that ‘austerity is over’ as he announced significant increases in spending across most government departments. As he unveiled the one-year Spending Review, the Chancellor said the increases showed that although cuts over the past decade had been tough, they had ‘paid off’. The Chancellor said: ‘No department… Read more »
Friday 6th of September 2019
‘Bank of Mum and Dad’ now one of the UK’s biggest mortgage lenders
Gifts and loans from parents helping their children to get on the property ladder have made the ‘Bank of Mum and Dad’ one of the UK’s biggest mortgage lenders, according to research. According to Legal & General, the average parental contribution for homebuyers this year is £24,100, up by more than £6,000 compared to last… Read more »
Thursday 5th of September 2019
£10 million ‘Brexit readiness fund’ launched for UK businesses
The UK government has unveiled a £10 million grant scheme to help businesses prepare for Brexit. The Business Readiness Fund is open to businesses, organisations and trade associations throughout the UK. The fund can be used to support events, training and the production of advice packs to assist businesses in making sure they are fully… Read more »
Wednesday 4th of September 2019
HMRC states around 3.5 million individuals ‘yet to benefit from Help to Save’
Data published by HMRC has revealed that around 3.5 million individuals are ‘yet to benefit’ from its Help to Save scheme. The Help to Save scheme allows individuals to build up a ‘rainy day’ fund, and helps to encourage a long-term savings habit. Account holders can save between £1 and £50 each calendar month, and… Read more »
Monday 2nd of September 2019
UK manufacturing output ‘stabilised in three months to August’, CBI finds
Manufacturing output in the UK stabilised in the three months to August, according to data published by the Confederation of British Industry (CBI). The CBI’s monthly Industrial Trends Survey revealed that 15% of UK manufacturers reported total order books to be above normal. However, 28% stated that they were below normal. This leaves a balance… Read more »