Most businesses would accept tax rise in exchange for simpler rules March 2, 2020 Two thirds of UK businesses would accept a tax rise in exchange for a simpler tax system, a survey from accountancy firm BDO has found. The survey comes ahead of the 11 March Budget, when new chancellor Rishi Sunak is expected to increase spending and cut entrepreneurs’ tax relief, a tax rise equivalent to £2.7bn [...]
Businesses and government in entrepreneurs’ relief row March 2, 2020 A row has broken out between the government and businesses over plans to scrap the entrepreneurs’ relief tax scheme, which small firms have warned will “destroy retirements”. Separately, a report has found that the use of the scheme is growing more than twice as fast in the north of the country than in London, questioning [...]
Numis Securities remains City’s most popular stockbroker March 2, 2020 Numis Securities remains the City’s most popular stockbroker despite its first large decline in client numbers for over a decade. The stockbroker has lost net six clients since last quarter but retains its top position 221 clients, according to figures from Adviser Rankings. Despite Numis’ popularity, Morgan Stanley has moved into the lead by aggregate [...]
Government launches campaign to promote UK ad industry after Brexit March 2, 2020 The government has teamed up with industry bodies to launch a new campaign aimed at promoting the UK’s advertising industry after Brexit. The UK Advertising Export Group (UKAEG) will look to boost the profile of the British ad sector and generate more deals in key territories such as China, Japan, South Korea, North America and [...]
Exclusive: Distillers demand cut to spirits duty in March budget March 2, 2020 A coalition of British distillers have written to Rishi Sunak to urge him to stick to his party’s election manifesto and cut spirits duty in this month’s budget. The letter – drawn up by the UK Spirits Alliance and signed by 40 of its members – asks the chancellor to “reduce the excise duty burden” to [...]
US trade deal objectives outlined by the Department for International Trade March 2, 2020 The government will today publish its objectives for a UK-US trade deal, with negotiators aiming for an “ambitious and comprehensive” agreement. The Department for International Trade has advised that official talks will begin this week, with new analysis revealing the trade deal is expected to increase transatlantic trade flows by £15.3 billion. The department believes [...]
Pete Buttigieg drops out of 2020 race for US Democratic presidential candidacy March 1, 2020 Pete Buttigieg, the first openly gay major US presidential candidate and a former small-town mayor in Indiana, has tonight dropped out of the race to be the Democratic candidate in the 2020 election. The decision followed a significant loss at a primary in South Carolina over the weekend, at which Buttigieg came in fourth place. [...]
Metro Bank to revoke private jet access for new chair after year of turmoil March 1, 2020 Metro Bank will not allow its new leadership to take private jet flights, as it takes its reshuffle at the top as an opportunity to reduce costs. The previous arrangement for founder Vernon Hill to expense private jet flights to the company was “specific to him” and unlikely to be repeated, the Telegraph first reported. [...]
No sign of post-election bounce as private sector activity continues to flatline March 1, 2020 Activity in the private sector fell again in the quarter to February, new figures have shown. Research by the CBI published today demonstrated the 16th consecutive quarter of falling business volumes in the UK. However, it pointed to variation across different sectors and some cause for business optimism. The report, based on a survey of [...]
German car industry facing difficult times ahead March 1, 2020 The German car industry will face significant challenges over the coming months, according to a new report. The IFO Business Climate survey saw the demand index fall to minus 11.8 for February, down from minus 2.1 in January. The survey revealed a difficult picture across the industry with export expectations falling minus 15.4 in February [...]