An extra 1.3 million people will have to start paying income tax – and a further million will be pushed into higher rate taxation – over the next five years, according to the Office for Budget Responsibility.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Amazon could be a big winner of Rishi Sunak’s investment tax break
Amazon could “entirely wipe out” the tax bill of its main UK service company by taking advantage of the chancellor’s £25bn “super-deduction” tax break, according to analysis by a tax fairness campaign group.
Jay-Z sells majority stake in Tidal music streaming service to Jack Dorsey’s Square
Square, the mobile payments firm run by Jack Dorsey, Twitter’s co-founder, has acquired a majority stake in Jay-Z’s Tidal audio and video music streaming service in a $297m deal.
Manchester United borrow £60m as debt rises amid Covid-19 pandemic
Manchester United have confirmed they accessed a £60m draw-down of their available £200m credit line in order to cover a soaring net debt of £455.5m as a result of the coronavirus pandemic.
Frasers Group warns of store closures after ‘near worthless’ budget support
Frasers Group, the retailer controlled by the Sports Direct founder Mike Ashley, has said it will be forced to close stores and cut jobs after a “near worthless” support package on business rates in the budget.
Companies ‘will quit UK’ over Sunak’s corporation tax rise
Companies will leave Britain to avoid Rishi Sunak’s corporation tax rise, experts have warned.
Marks & Spencer axes all 29 in-store bank branches and tells customers it is shutting their current accounts
Marks & Spencer is set to terminate its current accounts later this year and shut its 29-in store bank branches with its banking customers told to either switch to another lender or close their accounts altogether.
Apple investigated in UK over ‘unfair’ App Store claims
The UK’s Competition and Markets Authority has launched an investigation into whether Apple’s terms for app developers are anti-competitive.
US suspends tariffs on Scotch whisky and Stilton cheese
The US has today announced it will suspend a series of tariffs on a range of British goods, including Scotch whisky and Stilton cheese, for four months in a de-escalation of a long-running trade conflict.
Deliveroo sets out plan for $7bn listing in London
Deliveroo pressed the start button today on a $7 billion-plus listing on the London Stock Exchange less than a year after it had warned the Competition and Markets Authority that it would go bust without a $500 million investment from Amazon.
Sainsbury’s puts 1,150 jobs at risk as supermarket group closes online warehouse
Another 1,150 jobs are at risk at J Sainsbury as the supermarket group makes head office cuts and shuts its online grocery warehouse to save money and invest in improving its food ranges.
Despite good feedback there are still groups of people left struggling
Whilst the Budget 2021 has given a largely ‘hopeful vision’ for many, other excluded groups have been left struggling.
What more do we have to do? Calls from an industry fighting for survival
Hospitality has been hit immeasurably hard during the Coronavirus pandemic. Yet what measures are in place for the B-2-B sector, left fighting for survival?
Michelle Ovens CBE shares her thoughts on Budget 2021
We spoke to Michelle Ovens CBE to find out her thoughts on Chancellor Rishi Sunak’s Budget 2021 to see if it was what she had hoped for.
A positive response from the property industry to Budget 2021. Do you agree?
Despite the increase on Capital Gains Tax, word from the property sector has generally been positive. Especially with the opportunity to claim the ‘Super Deduction’ rate of 130% .
