“HMRC must do more, faster”: Slow action on tax avoidance is losing UK money, report claims November 17, 2014 The government department tasked with chasing tax avoidance schemes and recovering the cash is too slow, resulting in millions being lost, a report out today claims. The Public Accounts Committee looked into the process HM Revenue and Customs follows to recover tax lost through avoidance schemes and found that up to £10m from one particular [...]
North can keep shale tax receipts December 3, 2014 COMMUNITIES in the north of England will hold on to tax receipts generated by shale gas exploration in their region, the chancellor announced yesterday. George Osborne announced a long-term investment fund for regions affected by shale work as part of his plans for a northern powerhouse, to ensure “the shale gas resources of the north [...]
Tobacco firms may pay through the nose for harm from smoking December 3, 2014 THE TOBACCO industry may be forced to pay millions of pounds more in tax if the government backs a new levy on manufacturers and importers. Chancellor George Osborne yesterday said the government will consult on how tobacco firms could repay the “costs on society” that smoking brings. “Smoking imposes costs on society, and the government [...]
Industrials call for overhaul of business rates November 16, 2014 A GROUP of industrial companies has called on the Chancellor George Osborne to overhaul the business rates tax or risk making the UK an unattractive destination for investment. In a letter to the Chancellor, signed by around 15 companies, including General Motors, Tata Steel, Siemens and chemical firm BASF, the current tax regime was described [...]
Driverless cars will be tested in four UK cities from January 2015: London, Bristol, Milton Keynes and Coventry December 3, 2014 Driverless cars could be coming to a road near you. Four UK cities have been chosen to test out driverless cars, according to an announcement by public body Innovate UK. Greenwich in South East London will have one project, as well as Bristol while Milton Keynes and Coventry will share one. The trials will last [...]
Everything revealed in the Autumn Statement December 5, 2013 New cringeworthy slogans "Responsible recovery" and "fixing the roof while the sun is shining" have become popular with chancellor George Osborne's speechwriters. "Hardworking families" also got a mention. OBR growth estimates are up 2013: 1.4 per cent, up from 0.6 per cent in March2014: 2.4 per cent, up from 1.8 per cent in March2015: 2.2 [...]
Boris Johnson welcomes £141m transformation of Queen Elizabeth Olympic Park into “Olympicopolis” December 2, 2014 Boris Johnson has welcomed the government's commitment to create a £141m education and culture hub on Queen Elizabeth Olympic Park. The transformation will include two new campuses for University College London (UCL) and University of the Arts, new locations for the Victoria and Albert Museum and Sadler's Wells. It will create 3,000 jobs, 1.5m additional visitors [...]
EasyJet boss Carolyn McCall took home £7.68m in 2014 December 5, 2014 EasyJet boss Carolyn McCall has pocketed a £7.68m for her work over the last year, a drop of £92,000 on her previous year's pay. The figure included a £677,000 base salary, a £1m bonus, £5.9m from the vesting of shares, and a £47,000 pension. McCall's million-pound pay packet was only slightly less than last year, however [...]
Car industry set to create 50,000 jobs as reshoring takes hold December 5, 2014 The automotive industry is set to create a 50,000 new jobs as it reshores, according to research from Lloyds bank. British manufacturers will bring jobs back to the UK over the next couple of years to make more of an impact in the green auto market. Companies are choosing Britain, according to Lloyds, to shorten [...]
Which London borough will pay most stamp duty under Osborne’s new rules? December 3, 2014 Buyers moving to Kensington and Chelsea will contribute more stamp duty than any other London borough under new plans revealed by George Osborne in his Autumn Statement today. More than 12,500 homes in the borough will be subject to a higher rate of stamp duty after the changes come into effect. New Westminster residents would [...]