Export scheme to double to £50bn December 5, 2013 BRITAIN’S government-backed export finance limit was doubled to £50bn yesterday, as part of the chancellor’s attempts to boost UK firms’ sales overseas. Chancellor George Osborne said yesterday he wants to foster corporate links with countries further afield than Britain’s traditional trade partners in Europe and North America, as exports are not “growing as fast as [...]
Taxes trimmed for firms that fill empty stores December 5, 2013 IN RESPONSE to the significant rate of vacancies on British high streets, the chancellor yesterday also promised a 50 per cent discount on business rates to firms that move into previously unoccupied retail properties. The reduction will last for 18 months, and only applies to properties that have been vacant for a year or longer. George [...]
Foreign buyers and buy-to-let hit by tax plans December 5, 2013 OVERSEAS residents will be made to pay capital gains tax (CGT) when they sell their homes in the UK under changes announced by the chancellor yesterday, in a move expected to raise up to £345m by 2018. The Treasury will also raise money by halving the tax-free period for homeowners letting a property in which [...]
Other housing measures announced in yesterday’s statement December 5, 2013 ■ The government will create a £1bn, six-year programme to unblock large housing developments on sites in Manchester and Leeds and across the country. This will be used to tackle specific local problems that are hampering housebuilding – such as the lack of an access road to a development site. ■ The Housing Revenue Account [...]
Pilot planning scheme to offer households a share of proceeds from nearby developments December 5, 2013 HOUSEHOLDS could be paid a share of the proceeds when new developments are built in their area, under a pilot scheme announced yesterday. George Osborne said the government would work with industry and local authorities to make sure that households benefit from development in their local area by sharing in the proceeds. The move builds [...]
Key universal credit deadline to be missed December 5, 2013 WORK and pensions secretary Iain Duncan Smith has conceded that his flagship reforms to welfare will not be in place by the existing deadline, as the chancellor reveals new government welfare policies. As news surrounding the chancellor’s Autumn Statement dominated yesterday morning, the former Conservative party leader told the BBC that not all claimants would [...]
More cash for apprenticeships and cap on university places is lifted December 5, 2013 A RAFT of measures on education were announced as part of the Autumn Statement yesterday. The chancellor focused on policies to encourage more apprenticeships and additional university places to cater for increased demand. On apprenticeships, Osborne announced that money will now go direct to providers from HMRC. An extra £40m will be invested over two [...]
Tax crackdown on partnerships aims for £7bn December 5, 2013 A PACKAGE of measures to curb tax avoidance were included in yesterday’s Autumn Statement, in a move the chancellor says will raise nearly £7bn. Osborne outlined a two-pronged crackdown on company partnerships used to reduces taxes for hedge fund managers’ salaries and disguise company employees as self-employed partners to avoid income tax. “Most wealthy people [...]
Another hike for state pension from Osborne December 5, 2013 FROM April next year, the state pension will be hiked by £2.95 per week, an annual increase of £153.40 for each retiree. The chancellor also announced that the state pension, like unemployment benefits, would not be included in a new cap on total welfare spending. And the Treasury confirmed that the age of qualification for [...]
£100m Libor cash for military charities December 5, 2013 IN A CROWD pleasing move, George Osborne pledged to make £100m worth of Libor fines available to military and blue light charities yesterday. The chancellor said he was “immeasurably proud of the work of Britain’s armed forces,” adding that he would make the money available to military charities and causes close to the police, fire [...]
