Autumn Statement 2014: George Osborne tells Labour – anything you can do, I can do better December 3, 2014 Picture the scene. A room full of Treasury policy experts, a month or so before the Autumn Statement. The mood is tense, everyone knows the numbers aren’t as good as the chancellor hoped and the election looms menacingly on the political horizon. Pacing up and down, a pensive look on his newly-slim face, George Osborne addresses [...]
Autumn Statement 2014: The big stamp duty shake-up December 3, 2014 Stamp duty will be cut for millions of house buyers but hiked on the most expensive properties as part of a radical shake-up of the system announced by George Osborne. The chancellor claimed some 98 per cent of buyers will see a cut in their stamp duty bill as a result of the move, seen [...]
Autumn Statement 2014: Isa reforms bring welcome tax relief for savers December 3, 2014 Britain’s thrifty received a welcome boost yesterday after new a number of reforms were applied to the country’s Individual Savings Accounts (ISA) and pensions policies. In the Autumn statement, George Osborne announced that from 2015 the ISA allowance will rise to £15,240, and the changes to the starting rate of savings tax will mean that [...]
Autumn Statement 2014: Extra charges for non-doms to keep tax privileges December 3, 2014 Wealthy UK residents who are not domiciled in the country will be forced to pay higher charges if they want to keep their tax privileges, the government announced yesterday. Non-doms can choose to be taxed on a “remittance basis”, which means that they are only takes on overseas income and gains that they bring to [...]
Autumn Statement 2014: There’s only one thing on George Osborne’s mind – Editor’s Letter December 3, 2014 George Osborne is the consummate tactician. With 153 days to go to the election, there’s only one thing on his mind, and that’s how to breeze past opposition parties on the journey back to Downing Street. And who can blame him? After all, he’s the one who has kept the economy on the road and [...]
Autumn Statement 2014: Northern Ireland to control own corporation tax if talks go well December 3, 2014 Northern Ireland will be permitted to set its own corporation tax rate as long as the nation proves it can manage the financial implications of the change, the chancellor announced yesterday. Following weeks of intense talks, George Osborne signalled that if talks go well, Northern Ireland will be free to cut its corporation tax level [...]
Autumn Statement 2014: Google Tax set to raise £1bn from companies shifting profits overseas December 3, 2014 Starbucks, Apple and Google will pay higher UK taxes under a new tax that looks to stem the tide of multinational companies shifting profits to overseas tax havens. The Diverted Profits Tax, already dubbed the Google Tax, is set to raise over £1bn over the next five years by applying a 25 per cent tax [...]
Autumn Statement 2014: Reactions to George Osborne’s announcement – from the City economist to the property expert December 3, 2014 THE BUSINESS GROUP Confederation of British Industry director general John Cridland Growing firms will benefit from business rates reform. We welcome continued commitment to deficit reduction. “These major changes on stamp duty and business rates will be a shot in the arm for families and growing firms as they look towards 2015. [...]
Autumn Statement 2014: What does George Osborne’s budget mean for you? From single parents to entrepreneurs December 3, 2014 THE SINGLE PARENT Catherine Gannon, 51 Managing partner of law firm Gannons Gannons Commercial Law continues to perform extremely well as profits and earnings increase on last year. Catherine is commercially savvy and has recently restructured the business from an LLP to a Limited Company due to the new Legislation covering LLPs. This illustrates that [...]
Autumn Statement 2014: George Osborne’s wizard wheezes don’t mask his total failure to eliminate the deficit December 3, 2014 I said that I would eliminate the budget deficit in this Parliament. I have failed to do so. It’s actually going to take me about 10 years rather than five. So, I’d be most grateful if you could re-elect me next May to let me finish the job at the snail’s pace I have now [...]