The economic backdrop to Chancellor George Osborne’s fifth Budget statement was decidedly more positive than it was when he moved into Number 11 in 2010. The economy grew by 1.8 per cent in 2013, three times more than the Office for Budget Responsibility predicted at the Budget in March 2013. The OBR has now upgraded […]
Corporation tax rates and bands As previously announced, the main rate of corporation tax will be reduced to 21 per cent from April 2014 and further reduced to 20 per cent from April 2015. The small profits rate remains unchanged at 20 per cent. Capital allowances: Annual Investment Allowance (AIA) From April 2014, the AIA […]
Income tax personal allowance The income tax personal allowance will increase from £9,440 to £10,000 in 2014/15, and further increase to £10,500 in 2015/16. The higher allowances for those born before 6 April 1948 will not be increased. The basic rate limit will reduce from £32,010 to £31,865 in 2014/15 and further reduce to £31,785 […]
Schemes covered by Disclosure of Tax Avoidance Scheme (DOTAS) rules or counteracted under the General Anti-Abuse Rule (GAAR). New rules were introduced to accelerate payments of tax associated with schemes covered by the DOTAS and the GAAR. The measure widens the circumstances where the disputed tax sits with the Exchequer during a dispute, putting all […]
Today George Osborne announced his penultimate budget before the general election in a year’s time, and with the economy gaining real momentum it was his final opportunity to truly shape this government’s fiscal priorities before political posturing commences. In his Autumn Statement, Osborne argued that the best way to help business is by lowering the burden […]
Remuneration packages can be fantastic for both employer and employee, being flexible and potentially tax efficient for both parties. Although factors such as minimum wage and paid holiday must at least equal the statutory minimum, many aspects of remuneration are at the discretion of employers. There are then a number of opportunities to structure packages […]
Pension providers will have to do more to help retirees turn their pension savings into a retirement income, under reforms announced by the Association of British Insurers (ABI). The pensions industry will introduce a minimum standard for customers to ensure that people understand their options at retirement and have the opportunity to shop around for […]
Retail sales fell one per cent last month when compared to February 2013, the British Retail Consortium (BRC) has announced. Total sales growth in February 2014 slowed to 0.7 per cent after a strong January which saw record numbers for sales growth. This is in contrast to the 4.4 per cent increase in February 2013. […]
Nearly half (46 per cent) of adults who bought goods online in the last two years experienced problems with their orders, according to Which? research. The most common problems were: Late deliveries (19 per cent) Faulty or damaged goods (13 per cent) Goods failing to arrive (12 per cent). The survey of over 2,000 UK […]
Written by: Roselyn Knight on: March 11th, 2014 When we have had a few drinks with our friends we may end up dreaming of what life would be like if we all resigned from our jobs and set up a business together. We then move on with ideas and the name of the business and who […]
Date: 7 April 2014 Time: 10am – 6pm Venue: Gannons 20-21 Jockey’s Fields, London WC1R 4BW [ Location map ] This is a free session enabling you to pick the brains of our experienced UK lawyers on any commercial matter ranging from employment law, commercial contracts, shareholders, IP and how to resolve disputes. You do not need to be an existing […]
Welcome to the March edition of our Inspire newsletter. It’s been a busy end to the winter for us this February, and we hope you’ve had an equally busy month. February’s Business Forum was a particular highlight, with over 100 local business people in attendance, and afantastic speaker in Rich Watts. He presented a very applicable and […]