Tory leadership: Tax row kicks off battle in earnest as Javid and Hunt hit back at Sunak July 10, 2022 THE BATTLE to become Prime Minister began in earnest this weekend with a row over whether Britain should cut taxes. There are now nine declared candidates to become Boris Johnson’s successors – with a tenth, foreign secretary Liz Truss, expected to join them later today or tomorrow. Yesterday saw a host of pledges to cut [...]
Amid ‘hostile takeover’ bid M&C Saatchi reports 52 per cent profit increase before tax September 7, 2022 Advertising giant M&C Saatchi reported a near 10 per cent increase in revenue and 52 per cent rise in profit before tax from last year, despite the ongoing drama of its hostile takeover. The London-listed creative company increased its headline operating profit margin by 14 per cent. M&C Saatchi had almost £40m in net cash, [...]
PM declares end of high tax and spend as he says govt will ‘get out of the way’ June 9, 2022 Boris Johnson has indicated a major reset in the direction of his government, with the Prime Minister declaring the end of Covid-era “corporate welfare” and that now is the time to “stop spending and start cutting taxes and cutting regulation”. Johnson said “the overall burden of taxation is now very high”, after himself increasing the [...]
Sunak launches fresh attack on Truss’s tax cut plans warning Brits will face higher mortgage payments August 4, 2022 Ahead of the Tory leadership hopefuls next debate in their quest to become prime minister, Rishi Sunak launched a fresh attack on Liz Truss’s plans for tax cuts. The former chancellor said his Foreign Secretary rival in the Tory leadership race would further drive up interest rates, raising mortgage payments, with her plans. His warning [...]
Sunak considered resigning over his wife’s non-domicile tax status April 10, 2022 Rishi Sunak considered resigning as chancellor last week amid a torrent of stories about his wife having non-domicile tax status in the UK, it has been revealed. It was reported by The Independent last week that Sunak’s wife Akshata Murthy, who is worth around £700m personally and is the heiress to a £3.5bn fortune, was [...]
London suburb of Harrow emerges as unexpected hotspot for tax avoidance February 7, 2022 The London suburb of Harrow has been revealed as the unexpected centre of tax avoidance in the UK with 346 taxpayers coming forward to admit tax avoidance last year, placing it first out of 120 areas of the UK. In fact, The number of people admitting to tax avoidance in Harrow has jumped 280 per [...]
The City’s Purple Pay called out by HMRC for promoting tax avoidance April 7, 2022 The City’s Purple Pay has been named and shamed by HM Revenue and Customs (HMRC) for promoting tax avoidance schemes. The taxman has revealed the names of companies which have promoted schemes to avoid paying tax for the first time today, warning users that they could face “large tax bills” unless they withdraw from them. [...]
Tax disadvantage affecting Scottish partnerships to be removed December 8, 2021 In 2020 ICAS called for a tax disadvantage affecting Scottish partnerships to be removed, so we were pleased to see the recent government announcement that the relevant legislation will be amended. What’s the problem? The UK capital gains tax regime allows a roll-over style relief for CGT where joint owners of land exchange their interests [...]
Tax Spotlight: How the jump in national insurance will affect you and your household April 6, 2022 As Brits try to juggle surging living costs on a shrunken wage packet, experts have warned the pain of the rise in national insurance will be felt by people on their next payday, Here is a look at why the increase is happening and why “awful April” is seen as just the start of a [...]
Next: High street bellwether beats market expectations yet again May 1, 2024 Next said that it has projected post-tax earnings per share growth of 4.8 per cent for the year.