We can’t tax our way out of the Covid-19 crisis — instead, the chancellor must drive growth July 24, 2020 There has never been a time to my knowledge when, in the run up to a Budget or other fiscal event, the Treasury has not highlighted the pressures on public finances which made the option for significant (or, indeed, any) net tax cuts unwise. Typically, projected shortfalls in the state’s annual budgets have been in [...]
Small companies slam plans for big Making Tax Digital extension July 21, 2020 Small businesses have slammed the government’s planned expansion of the Making Tax Digital programme, saying it means more cost and paperwork for companies at a time when they are under great pressure. The government today said it will extend its tax digitisation programme to 4.7m of the UK’s smallest companies and self-employed workers from April [...]
Julian Lewis calls Tory party sacking ‘strange’ after Grayling plot July 16, 2020 Sacked Conservative MP Julian Lewis has called his removal from the party “strange” and labelled Downing Street’s attempt to install its own candidate to the chair of the Intelligence and Security Committee (ISC) as “improper”. Former transport secretary Chris Grayling had been handpicked by Boris Johnson to take the reins of the powerful committee, however [...]
UK unveils plans for frictionless post-Brexit trade between UK nations July 15, 2020 The government will tomorrow outline plans to ensure post-Brexit regulatory alignment on trade across the four UK nations in a bid to ensure frictionless internal trade. The white paper will propose a principle of “mutual recognition” whereby regulations that are set by devolved governments are recognised across the country to allow for internal trade. It [...]
Chris Grayling loses committee chair vote in Tory rebellion July 15, 2020 Former cabinet secretary Chris Grayling has failed to win the chairmanship of the Intelligence and Security Committee, despite being handpicked by Boris Johnson for the role, with fellow Tory MP Julian Lewis instead elected. The ex-transport secretary was expected to be voted into the role, however some Conservative MPs on the committee rebelled and instead [...]
Rishi Sunak shoots down speculation he will raise capital gains tax July 15, 2020 Rishi Sunak has distanced himself from reports that he is looking at increasing capital gains tax to help pay for the government’s Covid-19 spending. The Treasury announced yesterday it was commissioning the Tax Simplification Office to conduct a study “asking for “evidence to seek views about capital gains tax”, prompting speculation from financial services firms [...]
Rishi Sunak orders review into UK capital gains tax July 14, 2020 Chancellor Rishi Sunak has commissioned a report into capital gains taxes, which could lead to the government increasing the tax burden to help pay for its coronavirus spending. Sunak has asked the Office of Tax Simplification to conduct the review, with the body launching a survey today asking for “evidence to seek views about capital [...]
Common mistakes founders make – a lawyers’ point of view July 14, 2020 There is a ton of noise on how to succeed in making fail-proof start-ups or nailing the elevator pitch. What doesn’t find much mention is mistakes founders make for lack of a legal budget. As a lawyer I will obviously say that there is just no substitute for proper legal advice, but I also recognise [...]
Magnitsky Act: Dominic Raab unveils first foreign citizens facing visa restrictions July 6, 2020 Foreign secretary Dominic Raab has unveiled the first 49 foreign citizens facing sanctions for alleged human rights abuses under the UK’s new Magnitsky Act. Speaking in the Commons today, the foreign secretary said the UK was taking action against the “thugs of despots and henchmen of dictators” and those trying to launder their “blood-stained ill-gotten [...]
DEBATE: Did Boris Johnson’s ‘Build, build, build’ speech succeed in rebooting his premiership? June 30, 2020 Did Boris Johnson’s speech succeed in rebooting his premiership? John Oxley, a Conservative commentator, says YES. Boris is back in business. He has mastered his own recovery from coronavirus and is now ready to tackle the nation’s. It is a challenge he would have never expected when he entered Downing Street, and an important evolution [...]