From stamp duty to the triple lock, Andy Haldane says bold Burnham leadership can usher ‘vibe change’ for UK economy
Almost a quarter of freelancers believe they are overpaying their taxes, with much of the confusion arising from not understanding what can be deducted as an expense January 26, 2016 While Google has found itself in the spotlight recently for striking a deal with HM Revenue & Customs (HMRC) to fork over £130m in unpaid corporation tax, many self-employed people are facing almost the opposite problem. According to a survey from PeoplePerHour, nearly a quarter (22 per cent) of freelancers think they have been regularly [...]
Google tax deal: Taxing companies is after all just a stealthy way to tax people January 26, 2016 Another day, another deluge of headlines about a multinational’s tax affairs. It seems that Google’s £130m payment is motivated, in part at least, by concerns over George Osborne’s “diverted profits tax.” He claims it’s a great success, others describe the amount is “derisory .” Both miss the point spectacularly. We shouldn't be taxing companies in [...]
Top Tories demand simpler tax system as they step up to defend internet giant Google January 26, 2016 Leading Conservative MPs lined up to defend Google yesterday as the technology giant’s corporation tax bill came under fresh political scrutiny. “A corporation’s duty to shareholders will be to minimise its tax liability. It should be the duty of those making tax policy to find better ways to limit the elasticity,” Treasury Committee chair Andrew [...]
Downing Street rows back on support for £130m Google corporation tax deal January 25, 2016 Downing Street has distanced itself from Treasury ministers' reactions to the news that Google had agreed to had over £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax. The Prime Minister's official spokeswoman said the deal was a "step forward" but declined to endorse chancellor George Osborne's comments over the weekend that the tax [...]
Tax code needs radical simplification in light of Google’s £130m deal with HMRC, says TaxPayers’ Alliance January 25, 2016 Following the news that Google will pay £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax, the TaxPayers' Alliance (TPA) has called for the "radical simplification" of the tax code. "Yet again we have a case that demonstrates why we need radical simplification of our hugely complex tax system," said Jonathan Isaby, chief executive [...]
Tax experts pour cold water on heated debate over Google’s £130m corporation tax agreement January 25, 2016 Tax experts have poured cold water on a heated debate over Google’s agreement to hand over £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax, dismissing suggestions that the deal was unfair. Tighter rules surrounding corporation tax will result in a string of companies striking deals with HMRC, accountants say. “There will be lots of businesses that [...]
With just one week left until self-assessment tax return deadline day, people confess they’d rather undergo a trip to the dentist’s chair than fill out their tax forms January 24, 2016 Unbelievably, there is something people dread more than a trip to the dentist's office, and you don't even get a sticker and a lollipop for good behaviour afterwards. According to a survey by Which?, 38 per cent of people loathe completing their tax return more than they do going to the dentist. Other tasks people would [...]
Google agrees to pay £130m in back taxes in deal with HMRC January 23, 2016 Google has agreed a deal with HMRC in which it will pay £130m in back taxes after an "open audit" of its accounts by the UK tax authorities. The £130m covers corporation tax owed since 2005, and senior figures at Google have said it would follow rules which will result in it paying more tax [...]
Respite and financial boost for debt-ridden Bolton in FA Cup third round replay against fifth-tier Eastleigh January 19, 2016 ENGLISH football’s crisis club Bolton were granted a modicum of respite and a much-needed financial boost by a 3-2 FA Cup third-round replay victory over fifth-tier Eastleigh. Wanderers are rock bottom of the Championship and saddled with £172.9m worth of debt, while on Monday they avoided a High Court winding up order after their case [...]
UK pensions: Should you switch from a gold-plated defined benefit plan into a DC scheme? There’s a growing trend as retirees hope to take more cash out of their pots January 19, 2016 Pension savers now have more options at retirement – whether that’s taking a lump sum, buying an annuity, or dipping into it regularly. The flexibility now offered to people on regular defined contribution schemes seems attractive to people on “gold plated” defined benefit pensions, many of whom have considered switching from their secure scheme to the [...]