UK could rake in £14.7bn annually from Biden’s tax plan, think tank says June 1, 2021 The UK could rake in an extra £14.7bn every year by adopting US president Joe Biden’s ambitious tax proposal, according to the Institute for Public Policy Research today. Biden’s proposal for a new global minimum corporation tax rate of 21 per cent could bolster the UK’s recovery finances post-pandemic and Brexit, the Institute for Public [...]
Watches of Switzerland hails ‘tremendous’ growth as profits hit £126m July 7, 2022 Boss of luxury goods retailer Watches of Switzerland said it had been a “tremendous” year for the firm today as it reported a 98 per cent jump in pre-tax profits for the full year.
A wealth tax could raise as much as £55bn – but is it really the answer? February 22, 2021 Our friends at Tortoise are hosting an all-day summit on the Future of Money this coming Thursday. They’ve opened up the exclusive event to a small number of City A.M. readers, who can register here with the code GUESTOFCITYAM. Here, Tortoise’s Kim Darrah and Giles Whittell look at what a mooted wealth tax could mean [...]
Calorie counting gimmicks and sugar taxes won’t solve obesity crisis March 17, 2021 In the early days of the pandemic obesity was identified as a key factor behind hospitalisation rates and deaths from Covid. The Prime Minister knew this personally, from his own brush with mortality last April. This is on top of the already well-established links between obesity and other life-threatening conditions such as Type 2 diabetes, [...]
Government raised £40.8bn in green taxes in 2020, just six per cent of total May 10, 2021 The government raised £40.8bn through ‘green taxes’ last year, just six per cent of the £633bn raised through taxes overall, according to law firm Pinsent Masons. Over the last decade, the money raked in by green taxes has only risen 19 per cent which has clashed with the 53 per cent surge in taxes as [...]
Sir James Dyson has moved back to UK, docs show, as tax row continues April 21, 2021 Sir James Dyson has moved back to the UK, Companies House documents show, amid a row over texts the billionaire vacuum cleaner maker exchanged with Boris Johnson over tax problems during the pandemic. The documents, which were first reported by the Telegraph, show that Dyson’s new residence is in the UK. He had moved to [...]
UK says any global tax deal must tackle Big Tech ahead of G7 meeting May 27, 2021 UK says any global tax deal must tackle Big Tech ahead of G7 meeting
Controversial tax changes will pile burden onto businesses and leave contractors worse off March 31, 2021 Next Tuesday, long-delayed changes to a controversial tax rule will come into force and pile on an additional burden on companies already reeling from the effects of the pandemic. The rule, known as IR35, was originally designed to limit tax avoidance but it has caused dismay for employers and contractors alike. Before now, it has [...]
Boris Johnson signals willingness for new UK online tax on internet giants March 10, 2021 Boris Johnson has today signalled he could be open to a new online tax on tech giants like Amazon, while highlighting the taxation “discrepancy” between digital and bricks and mortar businesses. Johnson said during Prime Minister’s Questions (PMQs) today that chancellor Rishi Sunak has “tried to address” the discrepancy “in an equitable way”. Sunak has [...]
AssetCo boss says ‘still much to do’ as firm posts first half loss June 15, 2022 The boss of AssetCo said today there was “still much to do” as the newly expanded asset manager posted pre-tax losses of £2.6m for the first half of the year.