In a rare move, HMRC is refunding some parents who were liable for the child benefit charge – here’s what you need to know November 8, 2018 It is unusual for HMRC to admit that it has been too heavy-handed, so last week came as a welcome surprise to many parents who have been hit with fines in relation to child benefits. If you are responsible for bringing up a child under 16 (or under 20 if they are in education), you [...]
London house prices set to slide as caution lingers in the UK property market November 8, 2018 Fears of flat activity in London’s housing market were underlined by a new closely-followed survey this morning, which suggested property prices will continue to sink as buyer caution looms over the capital. According to data released today from the Royal Institution of Chartered Surveyors, 41 per cent more respondents have predicted a further fall rather [...]
Royal Mail shakes up management after series of setbacks as senior executive departs November 7, 2018 One of Royal Mail's top executives has agreed to step down from her role as the postal service shakes up its senior management following a series of knocks to its share price. Sue Whalley, head of the UK post and parcels division, will depart in March next year, and has left the board with immediate [...]
Good news – the evidence is in from across the Atlantic, and tax cuts benefit everyone November 7, 2018 From discussions on how the UK should reform its tax and regulatory landscape to make the most of post-Brexit opportunities, to the rallies midterm election candidates have been holding across the US championing or lambasting the President’s tax cuts, the debate is still raging about how changes to taxes impact economies. But if you need [...]
Hammond’s digital tax is an illogical game of whack-a-mole November 7, 2018 The introduction of a new digital services tax was the most depressingly inevitable part of Philip Hammond’s Budget speech last week. Years of pressure from a pincer movement of corporate tax moralists and traditional retailers have paid off. Starting in April 2020, profitable digital businesses with £500m in global revenues would face a two per cent [...]
EU leaders split on plans for a European digital tax November 6, 2018 EU member states have failed to reach a consensus on imposing an EU-wide digital services tax, which affects firms such as Facebook and Alphabet, over fears of potential US retaliation. The plan, which requires approval from all 28 EU member states, is opposed by many. The levy would see a three per cent tax placed [...]
Boohoo shares soar as sales nearly double after “exceptional performance” from PrettyLittleThing November 6, 2018 There may be ongoing high street pain for a number of retailers, but online troubles are few and far between for fashion chain Boohoo. It hailed "an exceptional performance" from PrettyLittleThing, which it has been integrating into the Boohoo group, while its acquisition of US fashion label Nasty Gal exceeded estimates in its first year. [...]
Jeweller Pandora slashes forecasts as lower sales take the shine off growth November 6, 2018 Bereft of a chief executive and wounded by tough trading conditions, Danish jeweller Pandora painted a bleak picture this morning after slashing its sales outlook for the second quarter running. Missing its profit and sales expectations in the third quarter of 2018, the jewellery maker today revised down its full-year revenue growth guidance for the [...]
This Living Wage Week, step up to make sure work always pays November 6, 2018 This week marks the anniversary of the campaign for a Living Wage – a cross-party movement of independent businesses, organisations, and people who believe in making work pay. I had the pleasure of speaking at the Living Wage Foundation’s parliamentary reception last week, which celebrated the extraordinary work that has been done so far and [...]
Which way for markets? It’s all about the midterms November 6, 2018 Americans will cast their vote in the US midterm elections today, and the results will set the tone for stock markets around the world. All 435 seats in the House of Representatives are up for grabs, while 35 of the 100 Senate seats will be on offer too. The big picture result will centre around [...]