Ivan Rogers: Brussels negotiators thinking “what business can they suck out of London” October 25, 2017 The government will struggle to stop EU officials trying to break up the City after Brexit, the UK’s former ambassador to Brussels has warned. Ivan Rogers, who resigned earlier this year, told the Treasury Select Committee that many EU negotiators are unwilling to maintain close links between London’s financial sector and businesses across the rest [...]
Cuts to pension allowances boost venture capital trust (VCT) fundraising to highest level in more than a decade October 19, 2017 Investors over the last year ploughed the most money into venture capital trusts (VCTs) in more than a decade, according to new data from HM Revenue & Customs (HMRC). The listed private equity-style investment funds, which give their investors tax relief on any money committed and tax-free returns, have seen increased interest from wealthy individuals [...]
Transport for London (TfL) Tube repair work delayed due to exodus of agency workers after IR35 tax changes October 16, 2017 Work on a critical London Underground programme repairing Bakerloo Line trains has been delayed due to an exodus of agency workers in the wake of tax changes earlier this year. Transport for London (TfL) has admitted that “a significant number” of vital employees left TfL as a result of IR35 changes, revised tax legislation affecting [...]
New government hub to create centre of excellence for public services for 2,900 civil servants September 21, 2017 In July this year, the UK Government announced it had selected Edinburgh’s New Waverley as the centrepiece of a new HMRC HQ function, bringing 2,900 civil service jobs into the historic heart of the city’s Old Town. The new development, adjacent to Waverley Railway Station, will deliver grade-A offices to be occupied by civil servants [...]
UK house prices: Property transactions fell again last month September 21, 2017 The number of homes bought and sold in the UK fell again between July and August, providing further evidence the property market is beginning to stagnate. On a seasonally adjusted basis, property transactions fell 0.5 per cent between July and August to 103,490, figures by HM Revenues and Customs (HMRC) showed. Although the figure is [...]
Uncertainty is a large problem for small businesses September 14, 2017 Today’s economic and political environment creates a number of challenges for the UK’s 5.5m small businesses. One of the most prominent is uncertainty, and the impact this has on the cost of doing business; it affects the ability of businesses to access finance, invest, export, and ultimately, grow. Consequently, the provision of tailored guidance and [...]
Debt collector Arrow Global partners with US investment giant to take on UK mortgages | City A.M. August 31, 2017 Debt purchaser Arrow Global has announced a partnership with Oaktree Capital Management, a US investment firm with more than $99bn in assets under management, to buy portfolios of UK residential mortgages. Bringing Oaktree on board would “provide significant portfolio investment”, Arrow said. The news coincided with a second announcement that Arrow will acquire the UK [...]
Suspected tax underpayment by big businesses rises to £25bn as HMRC cracks down on tax avoidance August 30, 2017 The amount of tax which the government suspects big businesses have underpaid has risen to £24.8bn, up 13 per cent on last year’s figures. Analysis by law firm Pinsent Masons of the figures from Her Majesty’s Revenue and Customs (HMRC), the department responsible for collecting taxes, showed this was a 31 per cent jump on [...]
The number of homes being bought and sold has fallen to its lowest since October July 21, 2017 Here’s another sign the UK’s housing market is beginning to suffer: the numbers of homes bought and sold have fallen to their lowest since October last year. On a seasonally adjusted basis, just under 97,000 homes were sold in June this year, down from 100,270 in May, figures from HM Revenue and Customs (HMRC) showed [...]
The only question you need to ask yourself before investing in an ISA May 4, 2017 Nick Kirrage, author on The Value Perspective blog, questions whether savers are really making the most of ISAs… There is no doubt the individual savings account – or ‘ISA’ for short – has proved a huge hit among the UK’s savers and investors. In the 2015/16 tax year (the most recent for which official figures [...]