Britain needs to grow up – and have real conversations about the economy February 26, 2024 The UK’s economic problems clearly run deep, and tax cuts alone will not fix them, argues Julian Jessop
Porvair profit falls as molten metal arm sags July 1, 2024 London-listed Porvair missed expectations in the firm's annual results, with adjusted profit before tax falling three per cent.
Spring Budget 2024: Hunt confirms fuel duty freeze in boost for UK motorists March 6, 2024 The government will spend £5bn on freezing fuel duty as part of the Spring Budget, in a major tax break for UK motorists
Travel chief warns online sales tax may hit tour operators and agencies hard May 23, 2022 The UK Government’s proposed tax on online sales could have a significant impact on travel businesses, according to accounting company RSM. The proposal, whose first consultation ended on Friday, is expected to level the playing field between physical and online retailers, as well as bringing down the cost of rentals. According to RSM UK’s head [...]
Santander pre-tax profit surges, as bank keeps watchful eye on soaring inflation April 26, 2022 Santander’s pre-tax profit has surged this quarter, despite the bank having to keep a watchful eye on soaring inflation. Profit from continuing operations before tax climbed more than 180 per cent to £495m in the three months to 31 March. However, with the looming risks of higher inflation, credit impairment charges came in at £52m, [...]
HMRC uses unprecedented amounts of data and ‘nudge’ letters in crackdown on foreign tax evaders April 23, 2022 The number of overseas investors confessing to tax evasion in the UK has more than quadrupled to 338 this year from 78 in the previous year, according to new data shared with City A.M. today. Many of these disclosures are from overseas investors in buy-to-let property who are coming clean about unpaid tax on their [...]
A Russian billionaire, the Dyson family, Gym Shark founder and Sting are among 100 of the richest Brits who paid nearly £5.2bn in tax during 2022 January 27, 2023 A Moscow-born billionaire is the UK’s top tax payer, paying more than £487m in just 12 months, according to the Sunday Times’ annual tax list. Alex Gerko, boosted the Treasury’s coffers by more than £1.3m a day or £55,639 an hour during 2023. Gerko, who became a British citizen and renounced his Russian citizenship late last [...]
McDonald’s to cough up more than €1bn to settle French tax dodging case June 16, 2022 Fast food titan McDonald’s is set to cough up more than €1bn to tie up a spat with French authorities over tax dodging. An agreement between McDonald’s fiscal authorities was given the greenlight in a tribunal in Paris on Thursday. The US giant will pay back €737m in unpaid taxes and a €508m fine, a [...]
Marks & Spencer’s CFO urges Chancellor Rishi Sunak to firmly reject online sales tax May 19, 2022 Marks and Spencer has reportedly warned the Government that an online sales tax would do more harm than good for the high street. In February, the Government launched a consultation into possibilities for an online sales tax to ease the business rates burden on high street stores. In a letter to Chancellor Rishi Sunak, reportedly [...]
The City View: Tory party rift over windfall tax, and stock market sell-off May 19, 2022 Today Andy Silvester talks to City A.M. reporters Jack Barnett and Nicholas Earl. Jack unpicks the continuing stock market sell-off, one of the worst in recent memory; and Nicholas takes us through the rift in the Conservative party over the potential implementation of a windfall tax on energy companies, and assesses the viability of the [...]