FinTech revolution was borne out of 2008 crash, Rishi Sunak must nurture a post-crisis environment for innovation March 1, 2021 It was from the devastation of the global financial crisis the FinTech revolution emerged. The pandemic will spur a new era of innovation too, and it has the potential to be bigger and even more explosive than the past decade – if we get it right. Who knew that while we all watched on as [...]
20 taxes to scrap: Britain’s growth needs a simpler tax system March 1, 2021 This week, Chancellor Rishi Sunak will present possibly the most consequential Budget in half a century. UK PLC is simultaneously struggling to cope with both the ongoing catastrophic impact of the Covid pandemic and the unanswered questions of what post-Brexit Britain will look like. According to the OBR, this year’s expected budget deficit will likely [...]
Rishi Sunak should axe 20 UK taxes in Budget, says think tank March 1, 2021 The UK should axe inheritance tax, stamp duty, the TV licence fee and 18 other taxes to simplify the UK’s taxation regime post-Covid, according to a free market think tank. The Institute for Economic Affairs’ (IEA) pre-Budget release has called for Rishi Sunak to “simplify the tax system, reduce the overall burden of taxation, and [...]
Budget 2021: Rishi Sunak hints at tax rises next week February 28, 2021 Rishi Sunak has hinted that he will raise taxes in the Budget on Wednesday, saying that he wanted to “level” with people about the fiscal challenges to come. He also suggested that he would extend Covid support schemes in his Budget, as expected, saying “we went big, we went early and there’s more to come”. [...]
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, City A.M. 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 [...]
A catch-up strategy? How Government can give young Brits a boost in Budget 2021 February 26, 2021 A catch-up strategy? How Government can give young Brits a boost in Budget 2021
Sunak’s Budget set to be a mix of tax rises and Covid cash giveaways February 25, 2021 Rishi Sunak’s Budget next week will reportedly be characterised by a mixture of Covid support extensions and tax rises, with few extra funds for day-to-day departmental spending. This is set to include a £30bn package to extend current Covid support schemes – including the furlough scheme, VAT cut for retail and hospitality, stamp duty exemption [...]
Easy does it for travel and leisure as they underpin the FTSE 100 today February 23, 2021 After a promising start European markets struggled to maintain their early market optimism today. However, some decent gains continue in the likes of travel and leisure stocks, with multi-month highs in a lot of cases. Over the last three days this renewed buoyancy has been evident in anticipation of a possible reopening, and with a [...]
Bitcoin’s market cap crosses $1 trillion as ETFs start trading February 22, 2021 A look at what's moving Bitcoin as the market cap crosses $1 trillion and ETFs start trading.