Taxes
FeedCredit Suisse does U-turn on bonuses
Adrian Holliday
Sep 1st 2010
Filed under: Company, Economy, Taxes
When is a bonus not a bonus? Answer: when it's a discretionary leadership award. That's at least how Credit Suisse appear to be nipping around ex-chancellor Alistair Darling's bankers' bonus tax. Around 400 Credit Suisse bankers are likely to benefit from the new windfall payments made today.Entrepreneurs face tax swoops
Guy Clapperton
Aug 25th 2010
Filed under: Taxes
Are you an entrepreneur? If so beware the tax man - they're stepping up their vigilance to cut down on tax evasion by the mega-wealthy. It's possible to insure against a sudden tax inspection because of the time it takes away from a business, and claims were up by 82% in June this year compared to July last, says Abbey Tax Protection.More UK corporates threaten to quit UK
Adrian Holliday
Aug 25th 2010
UK business red tape is increasing as are tax burdens - and up to 20% of UK big companies are considering quitting the UK as a consequence. The results are from an Inland Revenue-commissioned report by public policy researchers TNS-BMRB, originally ordered under the Brown Labour government.Councils sting business parking charge
Guy Clapperton
Aug 24th 2010
Councils around the UK are considering plans to start charging employers who use parking spaces. Nottingham City Council will be the first to introduce the workplace parking levy, which could cost either employers or employees up to £250 per year. Sorry, did I suggest there might be a choice? Of course employers will pass this on to employees, why wouldn't they?Us and Philip Green, all in it together
Martin Cloake
Aug 20th 2010
Filed under: Economy, News , Taxes
Arrogance? Stupidity? Or simply a sign that the new politics is in fact much the same as the old? The appointment of Philip Green to advise the Government on how to make cuts in public spending and the row it has sparked has certainly prompted some jaw-dropping moments.Borrowing drops and taxes rise in July
Chris Wheal
Aug 19th 2010
Filed under: Economy, Financial Crisis, Taxes
Government borrowing slowed in July to £3.8bn, a cut of nearly 40% on the same time last year, although net debt continued to grow. But the official figures from the Office of National Statistics show that not only is borrowing slowing, tax income is rising.Cuts bring real pain for middle classes
Sarah Coles
Aug 18th 2010
Filed under: Personal Finance, Pensions, Taxes
Leaked plans for spending cuts are not looking good for the middle classes. Benefits that have come to parents or pensioners, no matter what their income bracket, are to be suddenly and dramatically cut.So what do we know so far, and how much is it going to hurt?
July inflation slips lower to 3.1%
Adrian Holliday
Aug 17th 2010
Filed under: Economy, Taxes, Retail, US
Inflation measured by the Consumer Prices Index in July was snipped from 3.2% to 3.1%. Some relief for the government but substantially above the government's long-term 2% target. The Retail Price Index - considered by many as the more accurate price barometer - slipped to 4.8% from 5%. Good news, then?Blair memoir could cut tax bill by £2.3m
Adrian Holliday
Aug 17th 2010
Filed under: Debt, Personal Finance, News , Taxes
Tony Blair's decision to give away his £4.6m book advance for autobiography A Journey is a generous move. It's an absolute huge sum of money by any standards. Many seriously injured armed services personnel will benefit. But is it also a tax dodge?How benefit reform will cost us billions
Helen Fowler
Aug 17th 2010
Filed under: Economy, Job Focus, News , Taxes, Public Services, Election 2010
Getting people off benefits and back to work will cost the rest of us. Not just the odd million here and there. Enough to fund a small war.The Treasury is so annoyed at the cost involved it has issued an ultimatum to Iain Duncan Smith (right), saying he must recoup the money, according to the Financial Times. A case of red boxes at dawn?
School leavers struggle for work
Helen Fowler
Aug 16th 2010
Filed under: Debt, Economy, Job Focus, News , Taxes, Public Services
Youth unemployment is running at its highest levels since the early 1990s. Over the past three years unemployment among the UK's 18-24 year olds has climbed by five percentage points to 17.5%. Amid a shortage of work, growing numbers of school leavers are applying directly to companies for jobs. Fears of student debt, lack of places and talk of graduate taxes are deterring them from university.
Topshop boss Green advises on spending
Adrian Holliday
Aug 13th 2010
Filed under: Economy, Budget 2010, Taxes, Public Services
Topshop supremo Philip Green is to lead a savings drive with the government's £700bn spending budget. He hasn't got long to come up with ideas. David Cameron wants a report back in September.Green is proud of his approach to nailing costs down. "I am prepared to go and micromanage stores down to the clothes hangers," he has told the Sunday Telegraph.
Brussels plans new flight taxes on UK
Adrian Holliday
Aug 10th 2010
Filed under: Debt, Economy, Financial Crisis, Taxes
Brussels wants a brace of new taxes on European and UK consumers, including taxes on flights and and financial transactions. Brussels budget commissioner Janusz Lewandowski (pictured) says direct taxation from Brussels would offer a quid pro quo in return - a reduced contribution to the EU's €140bn annual budget. But the idea has been booted out by the UK coalition government. Treasury minister Lord Sassoon says that the UK is sticking to determining local taxation at a national level.
Why BBC licence fee is great value
Chris Wheal
Aug 2nd 2010
Filed under: Taxes, Media, Creative industries
Right-wing free-market think tank the Adam Smith Foundation has convinced a former BBC producer, David Graham, to demand the end of the BBC's licence fee and a switch to subscription services.This is like the worst TV repeats - how many other reports have urged the end of the licence fee? But it also comes at a time when Rupert Murdoch's Times' subscription service is struggling and Sky TV's income has been hit by OfCom interference.
Treasury accused over spending cuts
Press Association
Aug 1st 2010
Filed under: Economy, News , Taxes
The Treasury has been accused of taking a "blunderbuss" approach to public spending cuts by a think-tank whose founder and patron is Work and Pensions Secretary Iain Duncan Smith.The Centre for Social Justice said the spending review process instituted by Chancellor George Osborne needs "drastic changes" if it is to deliver genuine value for money.
