Rebel Tory MP Steve Baker to set up new campaign to push low-tax agenda November 28, 2021 Perennial rebel Tory MP Steve Baker is setting up a new Westminster campaign group to push Boris Johnson to adopt a low tax, small state position in the wake of a series of tax rises. Baker, who has a history of running successful parliamentary rebellions against Tory Prime Ministers, is planning to run a campaign [...]
Caymans link won’t stop Morrisons paying UK taxes, says Leahy October 14, 2021 MORRISONS will pay its taxes in the UK despite the incoming private equity owners using a Cayman Islands firm to operate the business, according to retail giant Sir Terry Leahy. MPs had questioned the arrangement behind the successful Clayton, Dubilier & Rice (CD&R) takeover of the supermarket, sealed in an auction recently, which will see [...]
Paying tax sooner – HMRC wants its money faster July 30, 2021 What are the challenges and advantages of paying tax closer to real-time? HMRC calls for evidence and ICAS responds. Nobody is likely to volunteer to pay tax sooner, unless it would earn interest at a competitive rate perhaps. But knowing what your tax liability is, and when you need to pay it, as close to [...]
Breakthrough week for historic corporate tax deal: 140 nations including Ireland are on board October 9, 2021 The international community is moving towards sweeping changes to how big multinational companies are taxed to prevent them from stashing profits in offshore havens where they pay little or no tax after 140 countries have agreed to sign the deal. Under the agreement, countries would enact a global minimum corporate tax of 15 per cent [...]
Rio Tinto ‘will dispute’ £190m fine from Australian tax watchdog September 16, 2021 Rio Tinto has been issued with a £186.36m fine from Australian authorities, according to a regulatory filing today, which the mining giant said it “will dispute”. The fine, dished out by the Australian Taxation Office, was for denying interest deductions on an isolated borrowing that was used to pay an internal dividend back in 2015. [...]
The piggybank: Giving your child a financial head start this tax year August 23, 2021 With eye-watering university fees and spiralling house prices to contend with, you might think you need to be a millionaire to give your child a financial head start in life. Yet investing relatively small amounts of money into a Junior ISA each month could put your child on the path to a more secure future. [...]
Loveholidays: How CEO Donat Rétif tripled profit by ‘democratising’ travel August 2, 2024 Donat Rétif has only been the CEO of Loveholidays since 2019, but under his leadership the vacation marketplace has experienced explosive growth across all major metrics, doubling its revenue, tripling its pre-tax profit and quadrupling its workforce.
The Bank of London Group handed HMRC winding-up order after chief steps down September 7, 2024 The Bank of London Group, a fintech unicorn boasting Peter Mandelson on its board, was handed a winding-up petition by the UK's tax authority just two days after saying its founder would step down as chief executive, City A.M. can reveal.
Tax-free savings accounts set to lose thousands as inflation keeps climbing September 17, 2021 The rise in inflation means cash ISAs are set to lose thousands in real terms over the next five years. The average interest rate on a cash ISA rate is currently 0.31 per cent, per the Bank of England on 31 July, while the rate of inflation is now 3.2 per cent. At these rates, [...]
Boris Johnson is gambling on the war-on-woke to keep rioting Tories at bay over taxes October 7, 2021 Boris Johnson is a man not used to picking up the tab. During his tenure at the Spectator, he infamously never repaid the interns who bought him coffees and in Downing Street he has tried to palm off the bill for everything from his curtains to Daylesford Organic ready meals. Before the pandemic, while crucial [...]