Budget 2016: A tax on house purchase is a tax on house building too – which will not help the UK’s housing crisis March 16, 2016 A tax on house purchase is a tax on house building too and could perversely worsen the housing crisis in the long term. Raising taxes is a tried and tested way to discourage activity that the government thinks is bad for us and right now it seems the target is buy to let. Unfortunately the [...]
What George Osborne’s Budget means for you: Five case studies including an entrepreneur, an apprentice and a chief exec March 16, 2016 Accountants from BDO ran the numbers for City A.M. to see the effect George Osborne's 2016 Budget will have on people with a variety of different incomes, living situations and responsibilities. THE BUSINESS WOMAN Catherine Gannon, chief executive at Gannons Commercial Law Gannons Commercial Law continues to perform well as profits and earnings increase on last year. [...]
Budget 2016: FTSE 100 index rallies after chancellor George Osborne’s speech March 16, 2016 The FTSE 100 rallied after the chancellor delivered his budget. The UK's blue-chip index rose by close to 0.75 per cent after Osborne completed his speech. Housebuilders led the rally after investors were cheered government plans to encourage building of new homes on brownfield land. And oil and gas stocks also benefited after Osborne delivered tax relief to the [...]
Budget 2016: From savers to landlords and commuters, here are the winners and losers from George Osborne’s “sugar tax” Budget – and how it will affect you March 16, 2016 Today's big speech has already become known as the "sugar tax" Budget, after George Osborne announced a surprise levy on fizzy drinks. But sugar addicts weren't the only losers from today's Budget: landlords were also hit, after the chancellor decided not to apply a fall in capital gains tax to them – while children are faced [...]
Budget 2016: Private investors have plenty to cheer – but indirect investors might be hurt by some of George Osborne’s new proposals March 16, 2016 What was dubbed the "sugar tax Budget" might appear at first glance to be sweet for investors and entrepreneurs – but it contains a subtle swipe at indirect investors. Alongside a raft of political rhetoric and tax savings for small businesses, designed to soften the impact of the new dividend tax, there were impressive tax savings announced to [...]
Budget 2016: The lifetime Isa could be a real shot in the arm for savers and investors – but must not be bogged down in baggage like our pensions system March 16, 2016 There is plenty to mull from today's Budget, but one announcement in particular stood out. The saver's rabbit in the hat was the lifetime Isa, a scheme designed to help those under 40 get into the savings habit providing a bonus of up to £1,000 for every £4,000 saved per year, aimed at house purchase [...]
Budget 2016: Here are the reactions to Osborne’s announcements on sugar tax, corporation tax, Insurance Premium Tax, Isas, education and growth prospects March 16, 2016 George Osborne has just announced some Budget surprises – a sugar tax, longer school days – as well as an increase in sin taxes on tobacco, alterations to ISAs and savings, and corporation taxes. Here's what analysts are already saying about the chancellor's latest agenda on… Personal allowance David Kilshaw, private clients services partner, EY [...]
Budget 2016: George Osborne’s speech in full March 16, 2016 George Osborne has just revealed the Budget for 2016. There was good news for businesses with corporation tax being sliced and business rates being reformed – but bad news for smokers and students who hate maths. Mr Deputy Speaker, Today I report on an economy set to grow faster than any other major advanced economy in [...]
Budget 2016: Ouch. George Osborne cuts capital gains tax – but landlords and buy-to-let investors lose out March 16, 2016 George Osborne has cut capital gains tax during his Budget speech in parliament – but landlords will lose out. The chancellor said the higher rate of the tax, which applies to capital gains on most assets, will fall to 20 per cent, from 28 per cent now, while the basic rate falling to 10 per cent, from [...]
George Osborne cuts corporation tax – but OBR downgrades UK growth forecast as he warns “storm clouds are gathering” March 16, 2016 George Osborne has warned of "storm clouds gathering" in a wide-ranging Budget speech in which he cut growth expectations, but delivered a sop to the UK's firms by cutting corporation tax again. During his Budget speech in parliament today, he reduced corporation tax to 17 per cent, the second such cut in less than a year. "Britain is [...]