So much for Singapore on Thames: UK corporation tax will be higher than France and Germany March 4, 2021 Yesterday, it was announced that corporation tax will rise from 19 per cent to 25 per cent by 2023 for UK companies with annual profits of £250,000 or higher. Although a new “super deduction” will see companies wipe out their tax bills by investing in property, plant and equipment for the next two years, the [...]
Budget 2021: Main points in Rishi Sunak’s announcement March 4, 2021 The chancellor unveiled the contents of his Budget in the Commons this afternoon, announcing a raft of new support measures alongside plans to shore up Britain’s finances in the wake of the coronavirus pandemic. Rishi Sunak doubled down on his commitment to do “whatever it takes” to protect lives and livelihoods as he set out [...]
Online sales tax would ‘kneecap’ small retailers, startups warn March 2, 2021 The introduction of a new online sales tax would “kneecap” retailers and have a disproportionate impact on smaller businesses, UK startups have warned. In his Budget tomorrow, chancellor Rishi Sunak is expected to launch a consultation on new levies targeting online retailers such as Amazon and Asos that have seen their profits soar during the [...]
Chancellor urged to keep London economy competitive through tax measures in Budget March 1, 2021 Chancellor urged to keep London economy competitive through tax measures in budget
Boris Johnson rules out meat and carbon taxes ahead of COP26 climate pledges March 1, 2021 Prime Minister Boris Johnson has categorically ruled out introducing new levies on meat or carbon despite his net zero targets
Elizabeth Warren’s proposed billionaire’s wealth tax would rake in ‘$78bn from just 100 people’ March 1, 2021 US Wealth tax bill aims to reverse economic downturn caused by Covid-19
Rishi Sunak’s choices: The taxes that may define this year’s Budget March 1, 2021 It is becoming increasingly clear tax hikes are firmly on the Chancellor’s agenda this week, as Rishi Sunak has hinted that he will raise some in the Budget on Wednesday. He is reportedly keen to “level” with people about the fiscal challenges to come. The Chancellor’s primary objective will continue for to be supporting the [...]
Taxes will dominate next week’s Budget, but which ones will Rishi Sunak raise? February 26, 2021 With all eyes on Rishi Sunak following the announcement of the recent government’s roadmap out of lockdown, it becomes increasingly clear taxes are firmly on the chancellor’s radar. To zoom in on the challenges Sunak is facing, Morning Wire caught up with, Tom Stevenson, investment director for personal investing at investment manager Fidelity International. “In recent weeks [...]
British family sells $10m Van Gogh to avoid rise in capital gains tax February 26, 2021 A British family are selling a Vincent Van Gogh drawing for a record breaking $10m (£7.1m) to avoid a potential rise in capital gains tax in next Wednesday’s budget. Thomas Gibson, a London art dealer, and his three sons have decided to sell the Van Gogh alongside seven other works, including art by Lucian Freud [...]
Chancellor Rishi Sunak ‘planning stealth tax rise’ on wealthy pensioners in next week’s Budget February 26, 2021 Chancellor Rishi Sunak 'planning stealth tax increase' on wealthy pensioners in next week's Budget