Venture Capital Trust fundraising at third highest ever amid 18 per cent drop April 8, 2024 Venture Capital Trusts raised £882m this tax year, data from the AIC revealed, an 18 per cent drop from last year.
Treasury presses ahead with online sales tax October 18, 2021 The Chancellor is reportedly amping up plans for an ‘Amazon tax’ that would help bricks-and-mortar high street stores. It comes after businesses were left bitterly disappointed by reports that Rishi Sunak has delayed a radical overhaul of the business rates system. Treasury officials have sped up work on a new online sales tax in the [...]
HMRC receives record high £157bn from VAT bills after tax holiday ends May 6, 2022 HMRC collected a record £157.2bn from VAT bills in 2021/22, a 55 per cent increase on the £101bn collected the year before.
Etsy accused of not paying enough UK tax, forking out £128,000 after pocketing £160m in sales June 20, 2022 Online marketplace Etsy has become the latest US retailer to be accused of not paying enough tax in the UK, having forked out just £128,000 as it pocketed £160m in sales. Etsy would have been liable to pay some £7m in corporation tax, had it booked all sales made in the UK at its [...]
Today: City hold its breath as Rishi Sunak is expected to confirm windfall tax on soaring energy profits May 26, 2022 Energy giants across the UK and investors in the City are awaiting what will come out of Westminster today as Chancellor Rishi Sunak is expected to cave in to pressure to impose a windfall tax on the soaring profits of oil and gas firms. Treasury sources did not deny reports he would use his announcement [...]
Opinion-in-brief: Labour’s call for a windfall tax reminds of Blairite times January 12, 2022 Emboldened by improved polling results and a government embroiled in scandals, Labour has proposed a £1.2bn windfall tax on offshore North Sea oil and gas companies – which it thinks could help shave £200 off average energy bills. UK households are potentially facing a £700 hike bills when the consumer price cap is updated in [...]
Bottoms up: Central London set for a new rooftop bar as Maven Leisure raises £2m April 25, 2024 Maven plans to raise the money via the private equity investment firm Growthdeck, which offers “tax-efficient investment opportunities in UK growth businesses”.
Cryptio bridging the gap between audit and tax reporting November 16, 2021 Accounting software provider Cryptio has launched Ionic – an enterprise grade update to its platform that will allow businesses and institutions to merge complex on-chain activity with their general ledger.
Send poorest Brits a cheque and don’t hike corporation tax, George Osborne tells Rishi Sunak May 23, 2022 Former Chancellor of the Exchequer George Osborne is convinced a windfall tax is coming, despite the squabbling between Numbers 10 and 11, while also saying he would put a cheque in the post to the poorest families in the UK. Moreover, he disagrees with present Chancellor Rishi Sunak over the proposed rise in corporation tax. [...]
UBS tax evasion penalty cut by French appeals court December 13, 2021 A fine on Swiss lender UBS for allegedly helping wealthy customers in France evade taxes was today slashed to £1.5bn. A Paris appeals court reduced the original penalty from over £3.8bn. However, the court upheld the original judgement that the Swiss lender was guilty of promoting illegal banking services and money laundering. UBS is intending [...]