FSB: Tax hikes risk severing Conservatives’ ties to business – CityAM : CityAM October 1, 2021 The Conservative Party’s ties to British businesses are at risk of being severed by looming tax hikes. The lobby group for British small businesses has slammed the Tories’ plans to raise national insurance at a time when firms across the country are grappling with higher costs and shortages. Also Read: Shortages and spiralling costs deal [...]
Tax hike: National Insurance increase likely to trigger redundancies once furlough ends September 8, 2021 With the furlough scheme being withdrawn at the end of this month, the increase in National Insurance will make the cost of keeping jobs more expensive for employers, tax experts and accountants told City A.M. today. Yesterday, Brits were told they will be hit with £12bn-a-year tax rises to pay for increases in NHS and [...]
Boris Johnson refuses to rule out new tax rises before next election September 7, 2021 Boris Johnson has said he has an “emotional commitment” to not hiking tax again before the next election, but refused to rule it out just hours after increasing National Insurance and dividend tax. Johnson refused at today’s press conference on three occasions to promise he would not raise taxes again, commenting only that “I certainly [...]
Cairn Energy plans £500m shareholder bonanza following Indian tax windfall September 7, 2021 London-listed oil and gas firm Cairn Energy said this morning that a long-running tax dispute with India is nearing its conclusion, paving the way for a £506m handout to shareholders. Bosses said today they expect the country’s government to hand over close to £770m after officials seized a stake in its Indian operations as part [...]
More than half UK SMEs delay adopting IR35 tax reforms September 6, 2021 More than half of the UK’s small and medium-sized enterprises (SMEs) have not put in formal processes to adhere to changes to the IR35 rules, according to a new survey. A survey from advisory firm BDO found 55 per cent of SMEs using contract workers say they will worry about IR35 reforms when businesses return [...]
Business minister: Income tax rise and 3p on fuel needed to pay for Universal Credit September 23, 2021 A minister has said income tax would need to rise to keep the £20 weekly Universal Credit uplift. Business minister Paul Scully told Sky News this morning: “The Chancellor… will look at the whole aspect of public finances in the Budget and the Spending Review that is coming up.” He went on to say: “But [...]
National insurance hike completely unnecessary says Brexit veteran Lord Frost as Tory calls to drop £12bn tax increase swell January 25, 2022 Lord Frost has urged Boris Johnson and Rishi Sunak not to raise taxes in April as cost-of-living is set to increase for most Brits. The Prime Minister’s former Brexit chief joined the growing number of senior Conservatives to call for the planned national insurance hike to be scrapped. The former Brexit Minister – who resigned [...]
Food strategy review calls for £3bn sugar and salt tax July 15, 2021 The UK could introduce a new £3bn tax on sugar and salt as part of a string of reforms aimed at improving the health of the nation and helping to tackle climate change. A government review by Leon co-founder Henry Dimbleby published today said Covid had provided a “painful reality check” and warned that poor [...]
Cairn Energy in line for $1bn refund as India scraps tax law August 6, 2021 Cairn Energy could be in line for a $1bn refund after the Indian government decided to scrap a controversial retrospective tax law. The FTSE 250 company has been engage in a long-running tax dispute with India over the issue. In recent months, the independent oil and gas firm has taken steps to seize some of [...]
City minister pledges ‘competitive tax rates’ for UK financial services sector ahead of Budget September 20, 2021 John Glen has promised that the UK’s financial services sector will benefit from “competitive tax rates,” ahead of the next Budget on 27 October, according to reports. “To be competitive, we have to have competitive tax rates and that’s what’s on the chancellor’s mind at the moment,” the City minister told the Financial Times, which first reported the [...]