30 April 2014 and 15 July 2014: the fatal deadlines! Two fatal deadlines are coming up soon: 30 April 2014 for filing your Russian personal income tax declaration and 15 July 2014 for paying the tax. Being too late means paying penalties. Not every foreigner (or Russian) should file a declaration though. The conventional wisdom […]
Just like everyone else, foreigners in Russia should not break the law. The current law is very clear on the issue of leniency for foreign citizens with regard to violations: when you have committed two or more administrative violations within a year, you can be denied access. An amendment to that law is being proposed […]
The employment agreement may be considered by some as a too tight pre-fabricated arrangement. Originated in the nineteenth (in Europe) and twentieth (in Russia) century, the employment agreement granted some level of protection to the proletariat. This has resulted in a not-so-flexible labour law system: in Russia, it is not possible to conclude contracts for […]
The inheritance tax (IHT) threshold should be raised above its current £325,000 limit for individuals, Prime Minister David Cameron has said. Speaking at a meeting in East Sussex, the Prime Minister suggested that IHT should “only really be paid by the rich.” Although the IHT threshold usually rises in line with inflation, it has been […]
Women now hold more than a fifth of all board positions in FTSE100 companies, according to the latest figures. The annual progress report into women on boards, the third since Lord Davies’s 2011 review, found that 20.7 per cent of board positions in FTSE100 companies are held by women. This figure is up from 12.5 […]
Employers need to do more to take full advantage of ‘age diverse’ workforces, according to research from the Chartered Institute of Personnel and Development (CIPD). A study of almost 3,000 employees and more than 900 employers found that multi-generational workforces bring greater knowledge and innovation to businesses. However, the CIPD found that many firms are […]
74 per cent of consumers say they have not yet felt the benefits of the fledgling economic recovery, according to a survey by uSwitch.com. Despite economic growth of 1.8 per cent in 2013, the research found that 54 per cent of UK households feel their standard of living has declined in the last year, while […]
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 […]
AB Sagax (publ) (“Sagax”) issued on 11 Mach 2014 a senior unsecured floating rate bond with a nominal amount of up to EUR 150,000,000 series no 4 on the Swedish market. The bond has a 5-year maturity and a floating rate of EURIBOR (6 months) plus 3.2 per cent per annum. The bond loan proceeds […]