Politics

Tax / Conservatives will not cut corporation tax rate to 17%

Boris Johnson has told the CBI Conference that the Conservatives will not cut the current corporation tax rate from 19% as set out in the Budget

Tax / MEPs plan clampdown on online platforms to close €5bn VAT gap

European lawmakers are set to tighten rules for large online platforms such as Amazon and eBay to recover billions in lost VAT from sales through their sites

Tax / Are businesses ready for the tax implications of a change of government?

With a December election approaching, James Ross, tax partner at McDermott Will & Emery, examines the financial and tax components of the party platforms and the impact and costs for businesses and individuals investing in the UK

Tax / UK voters want hike in tax for top earners

Both Labour and Conservative voters expect taxes to rise, and the majority feel that higher earners should make up the deficit

Tax / Pros and cons of four-day week

Labour party plans for a four-day week have been criticised by a think tank which claims the impact on productivity would cost up to £17bn a year, but there are advantages of offering a more flexible work environment to employees 

Tax / Budget push-back delays Finance Bill

The announcement of a general election on 12 December 2019 means the Finance Bill 2019-20 will not be passed in the current parliamentary session

Tax / OBR to release financial forecasts despite Budget cancellation

The Office for Budget Responsibility (OBR) is to press ahead with publishing revised public finance forecasts as planned, rather than risk failing to meet its statutory duties, despite the Chancellor’s decision to cancel the Budget

Tax / 6 November Budget day cancelled

The Budget has been cancelled due to the ongoing Brexit discussions and delays, and the PM’s wish to hold a general election by 14 December

Tax / EU push for public country-by-country reporting by multinationals

Members of the European parliament have adopted a resolution urging member states to agree to new rules obliging multinationals to disclose publicly what taxes they pay in each country

Tax / Mel Stride to chair Treasury Committee

Former financial secretary to the Treasury and Conservative MP Mel Stride has been appointed as chair of the influential Treasury Committee

Tax / Mel Stride in running for chair of Treasury Committee

Four Conservative MPs have been nominated for the position of chair of the Treasury Committee, to replace Nicky Morgan, including ex Treasury minister Mel Stride 

Tax / Climate change protesters spray red paint at Treasury

Activists from Extinction Rebellion have splattered the Treasury with red dye as they lost control of a fire engine hose during a demonstration in Whitehall today

Tax / Chancellor plans £10.50 national living wage

The Chancellor has announced plans to increase the national living wage to £10.50 within five years and will reduce the age eligibility for the higher rate

Tax / Tax updates: October 2019

In this month’s tax updates, three BBC presenters lose IR35 case, Apple tax demand ‘defies reality’, Glencore wins £51m transfer pricing appeal, HMRC does not understand small business, 120,000 miss MTD deadline, double NIC Brexit warning, and NHS pension tax consultation

Tax / Ex NAO chief to lead independent review of loan charge

The former head of the National Audit Office (NAO), Sir Amyas Morse, will head up the independent review into the controversial loan charge, which has seen HMRC pitted against taxpayers who used disguised remuneration schemes over the last decade, and is set to report by mid November
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