Politics

Tax / President Trump ‘paid no income tax’ for 11 years

Donald Trump paid just $750 (£581) in federal income tax the year he became US president, and made no payments in 11 other earlier years, according to US news media reports

Tax / Government extends furlough end date to 30 June at £50bn cost

The three-week lockdown announced yesterday has now been accompanied by a government confirmation that the Coronavirus Job Retention Scheme furlough rules or 80/20 rules, will be extended to 30 June with a potential price tag of £50bn, reports Sara White

Tax / Labour names Anneliese Dodds as shadow Chancellor

The Labour Party’s new leader, Sir Keir Starmer, has named Anneliese Dodds as the first woman shadow chancellor, replacing John McDonnell who resigned from the shadow cabinet following the party’s defeat in the December election

Tax / Tax tribunals cancelled until further notice, select committees running

All tax tribunals at the First Tier Tribunal (FTT) and Upper Tribunal level have been postponed unless proceedings can be held online while parliamentary committees are reviewing their operational procedures, reports Zak Jakubowski

Tax / Chancellor sets out radical employment support package to protect jobs

The Chancellor Rishi Sunak has set out a multibillion pound package to protect jobs with a government commitment to pay 80% of salaries for private sector employees who are furloughed during the coronavirus crisis, a three-month deferral of VAT payments until the end of June and self employed will be eligible for statutory sick pay (SSP). Sara White reports

Tax / Chancellor convenes emergency meeting with business groups and unions

Representatives of business groups and the unions attended an emergency roundtable on coronavirus this afternoon hosted by the Chancellor, Rishi Sunak

Tax / Bank of England cuts base rate to 0.1%

The Bank of England has cut the base rate 0.1% and increased its holdings of UK government and corporate bonds by £200bn

Tax / Chancellor tells MPs business loans effective 'beginning of next week'

Chancellor Rishi Sunak told MPs at a Treasury committee hearing the justifications for the government's decision to provide loans not grants for businesses and stressed that detailed guidance would be available from the start of next week, reports Zak Jakubowski

Tax / £330bn ‘unprecedented’ coronavirus emergency fund

The government has announced a £330bn package of measures to support businesses through the coronavirus crisis from extensive loans and guarantees to business rates relief

Tax / Covid-19 measures pose ‘catastrophic’ challenge for leisure industry

There are warnings the pub and brewing industry, along with the travel, retail and other leisure sectors face ‘an existential crisis’ in the wake of new government restrictions to combat the spread of covid-19

Tax / BBC delays over-75s TV licence charge to August

The government has confirmed that over 75s will not be charged for a TV licence until August, a timely move as that age category faces the possibility of self-isolation in the fight against covid-19

Tax / Accountants activate covid-19 contingency plans

Accountancy firms are putting contingency plans in place to ensure remote working is viable but the majority of practices plan to remain open and fully operational from their office locations until they are told otherwise by the government, reports Sara White

Tax / Budget 2020: Chancellor confirms second autumn Budget

During his first Budget speech, the Chancellor Rishi Sunak confirmed that there would be a second Budget this autumn

Tax / Call for Chancellor to reform tax policy approach

A group of tax experts is calling on the Chancellor to take a more considered approach to making tax policy in line with international practice and reduce the compliance burden

Tax / IR35 implementation review commits to April 2020 start date

With weeks to go until the IR35 rules come into force, the government has released the findings of its off-payroll review, with no backtracking on initial plans
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