Tax
-
Feb- 2021 -8 February
Sunak mulls ‘Amazon Tax’ to help with UK debts
Chancellor Rishi Sunak is allegedly considering a double tax raid on online retailers such as Amazon who profited during the pandemic. According to The Sunday Times, leaked emails show that Treasury officials have already called for tech firms and retailers to meet this month ahead of the March budget to…
Read More » -
4 FebruaryProperty
Retail landlords charged nearly £1bn in rates on empty shops
Retail landlords have handed over almost £1bn to English Councils in business rates since the onset of the pandemic despite the current holiday, research from the Altus Group has found. The government, which has invested more than £280bn in business support during the last year, gave premises in those sectors…
Read More » -
Jan- 2021 -19 JanuaryGovernment
Sunak looks to raise corporation tax in March budget
Chancellor Rishi Sunak is reportedly looking to raise corporation tax in the upcoming March budget to pay off the estimated £400bn borrowed by the UK throughout the pandemic. According to The Financial Times, the alleged move has sparked uproar among business owners who claim they are still struggling with the…
Read More » -
Mar- 2020 -13 MarchEconomy
Government to introduce 2% digital services tax
The UK Government has confirmed plans to introduce a new 2% tax on the revenues of online marketplaces which “derive value from UK users”, starting 1 April 2020. The new tax also applies to search engines and social media services, and these businesses will be liable to the tax when…
Read More » -
Feb- 2020 -10 FebruaryGovernment
HMRC yields £16 from small businesses for every £1 spent on staff
HMRC’s investigations into individuals and small businesses produced a yield of approximately £16 for every £1 spent on staff last year, according to research by international law firm Pinsent Masons. The firm said the “huge” return on investment in staff outweighs returns seen by other private sector businesses. Whilst HMRC’s…
Read More » -
Jan- 2020 -30 January
Frasers Group settles Belgian tax dispute
Frasers Group has announced it is in the clear with Belgian authorities over an outstanding tax bill that equated to £571m. Belgian authorities had been looking into a number of matters with the group, including ‘Matter 1’, which accounted for 73% of the total £571m owed. In its latest update,…
Read More » -
Jul- 2019 -22 JulyHigh Street
Philip Day places bid for Jack Wills
Edinburgh Woollen Mill owner Philip Day has put in an initial bid to acquire fashion retailer Jack Wills. It has also been reported that the company’s owner BlueGem is considering bids from other groups, including Marquee Brands – owner of Ben Sherman, Sports Direct and Johan Eliasch, owner of sportswear…
Read More » -
Jun- 2019 -17 JuneEconomy
20,000 shops gone from high street since 2010
Since 2010 more than 20,000 shops have “disappeared” from high streets and the communities that they once served, according to the real estate advisor, Altus Group. Analysis of official government data by Altus Group revealed that between 2010 and 2019, 20,143 shops in England and Wales – liable for business…
Read More » -
13 JuneGovernment
Businesses rates to better reflect property value under new law
Business rates payers in England will have bills that more accurately reflect current property values under new legislation introduced by ministers yesterday (12 June 2019). Property revaluations will increase to every three years, from the current five years, and the next revaluation will be brought forward a year from 2022…
Read More » -
May- 2019 -17 MayComment
How Making Tax Digital is going to help the retail sector
Shop closures are an all too familiar scene. A recent study by The Guardian found that English and Welsh town centres have lost 8% of their shops on average since 2013 (equating to 40 shops per town centre). While the sector is riding the waves of a storm, the digitisation…
Read More »
