Britain’s nineteenth century tax system is breaking under twenty-first century strains April 15, 2016 Politicians have noticed (perhaps belatedly) that they have been fiddling with a nineteenth century tax system while taxpayers have been operating in the twenty-first century. The existing tax system is a result of years of tinkering, reflecting the influence of political views and special interest lobbying. This has created vast complexity. We could look to [...]
British businesses are hiring 25 per cent more apprentices as firms record a slowdown in graduate recruitment March 10, 2016 British businesses are offering 25 per cent more apprenticeships this year compared to last year, but graduate vacancies are up by just two per cent over the same period, according to a new report out today from the Association of Graduate Recruiters (AGR). According to AGR, the figures mark a significant slowdown for graduate programmes compared to last [...]
UK Budget 2016: IFS warns that stock market volatility could lead to more than £2bn in losses for UK Treasury February 8, 2016 Plummeting equity prices could cost the Treasury billions of pounds, making it more difficult for chancellor George Osborne to meet his target of achieving a fiscal surplus by the end of the decade, a leading think tank has warned. In its annual Green Budget publication out today, the Institute for Fiscal Studies (IFS) said that equity prices [...]
Budget 2016: It’s time for the Treasury and George Osborne to find elusive cuts, not introduce stealth taxes March 14, 2016 A guaranteed way of keeping someone on your side is to print a bigger number at the bottom of their monthly pay slip – a fact recognised by employers and politicians alike. George Osborne is expected to lift the personal allowance again during Wednesday’s Budget (a commendable continuation of the Liberal Democrats’ longstanding policy) and [...]
Law firm Slater and Gordon in talks over debt restructuring, calling in FTI Consulting to help boost the firm’s financial health January 31, 2016 One of the most prominent personal injury law firms has brought in management consultants in a bid to fix its financial health. Slater and Gordon, which is listed on the stock exchange in Australia, is in discussions with consultants from FTI Consulting over debt restructuring. The move comes less than a week after the law firm revealed [...]
Budget 2016: Chancellor George Osborne considering raising 40p threshold and slashing top rate from 45p to 40p March 6, 2016 Chancellor George Osborne could hand middle and higher income earners a big tax break next week by increasing the threshold for paying the higher rate of tax. Osborne is reportedly considering increasing the amount people have to earn before they start paying the higher 40p tax rate to £43,000 from the current threshold of £42,385 [...]
EU referendum: Savills posts record results but warns uncertainty surrounding Brexit vote could slow UK housing market March 10, 2016 Estate agency Savills posted a strong start to the year but warned that it expects the UK property markets to cool this year due to stamp duty reforms and uncertainty ahead of the EU referendum. The company beat analyst forecasts by posting a 21 per cent rise in pre-tax profit to £121.4m last year, fuelled by its expansion in the [...]
Treasury Select Committee raises red flags after emails reveal Treasury meddling with Office for Budget Responsibility (OBR) February 22, 2016 An influential group of MPs have today raised red flags over the independence of the government’s statistics watchdog, after multiple emails revealed that Treasury officials requested changes to descriptive text accompanying official forecasts. The Treasury Select Committee said in a new report out today that the emails “raise concerns about the terms of engagement” between the Office [...]
Mortgage approvals dip in November – but are still 25 per cent higher than the same period last year December 24, 2015 It may be hours before the great Christmas getaway begins, but the British Bankers' Association (BBA) hasn't let that get in the way of bringing you Serious News. This morning the organisation said the number of loans dished out to homebuyers has dipped, falling to 44,960 in November, down from 45,463 in October. No festive frivolities there… The [...]
Budget 2016 might have done no favours for house buyers – now it’s time to look again at property funds March 17, 2016 The British have a long-standing love affair with residential property. This extends beyond owning their own homes to a faith in bricks and mortar as a solid investment. However, while investing in residential has meant owning one or more buy-to-let properties, the impending crackdown on buy to let by the chancellor means they should consider an alternative [...]