Around 3.5 million people paid too much tax in the last financial year and are therefore due rebates averaging between £350 and £500, HM Revenue and Customs (HMRC) has confirmed. In its end of year reconciliation process for the 2012/13 financial...
The revelation that Amazon paid less in corporation tax than it received in government grants last year has led to widespread condemnation from MPs. In 2012-13 the internet giant paid £2.44 million in corporation tax, which is less than the £2.5...
Reforming the way that council tax is set would help to boost the economy, according to a new report by the London Finance Commission (LFC). It claims that freeing London boroughs from "paternalistic" government interference and allowing them to set...
Luxembourg is resisting mounting pressure to sign an EU directive that would result in the compulsory sharing of tax information between member states. The country's tough stance means that a swift deal is unlikely unless finance ministers from other...
Chancellor George Osborne has urged EU finance ministers to sign a new tax directive that would represent a major step towards creating a global standard on tax information. In a letter sent ahead of today's meeting of the 16 eurozone finance ministers in...
The only way that the UK Government would devolve corporation tax powers to Northern Ireland is if it benefited the Treasury to do so, Mayor of London Boris Johnson has claimed. According to Mr Johnson, chancellor George Osborne would need to be convinced...
Prime Minister David Cameron has set out a series of challenges to restore "strong and sustainable growth" to the world economy, including the introduction of tougher tax transparency rules. A week after it was revealed that 100 UK organisations...
The UK's housing and debt crisis could be solved by introducing a Land Value Tax, according to the think-tank Class. A new study published by the organisation suggests that the tax should be levied on all land, except where it lies under people's...
A global tax evasion investigation has been launched by HM Revenue and Customs (HMRC) after it was discovered that 100 of Britain's wealthiest people have been hiding billions of pounds in secret offshore havens. A joint investigation by the Guardian, the...
Prime Minister David Cameron has stressed that he remains opposed to the idea of a European financial transactions tax, which he feels could harm the UK's financial services sector. Mr Cameron says that such a tax, which would discourage speculative...
The Local Government Association's (LGA's) calls for councils to be given the "full and unconstrained ability" to vary council tax discounts has been criticised by MPs, who claim it will result in people being hit with "stealthy tax...
The Government needs to provide greater clarity regarding its policies on corporation tax, in order to prevent confusion among the nation's companies, according to the Confederation of British Industry (CBI). It has argued that Prime Minister David...
British businesses need to do more to boost the transparency and understanding of their tax affairs, according to the Confederation of British Industry (CBI). A new statement of principles published by the CBI outlines how companies should conduct their tax...
The results of local council elections are being affected by the lack of tax breaks for married couples, one body has claimed. According to Conservative Grassroots, a network of senior Tory party members, Prime Minister David Cameron's attempts to...
HM Revenue & Customs (HMRC) has not altered the way it deals with complaints made by businesses and members of the public, the organisation claims. According to HMRC, only a "fraction of a per cent" of the millions of customers it serves each...
Since the Real Time Information (RTI) system was launched on 6 April 2013, HM Revenue & Customs (HMRC) has reported more than one million submissions. RTI sees employers submit payment and tax information about their employees after each wage payment,...
All British Overseas Territories with significant financial centres have signed up to a global tax transparency scheme in order to tackle tax evasion, Chancellor of the Exchequer George Osborne has announced. The Treasury has called this a "turning...
Mayor of London Boris Johnson has announced £40 million worth of funding for small and medium sized enterprises (SMEs), technology, science and infrastructure in order to boost jobs and stimulate the economy. The announcement came following the...
The Trades Union Congress (TUC) has called for radical economic reforms as part of its campaign plan, which would see a jobs guarantee for young people, spreading the living wage across the public and private sectors and putting communities, not profits, at...
The UK will experience economic growth of 0.9% this year, a report from the National Institute of Economic and Social Research (NIESR) has said. NIESR suggested this growth could continue to rise in 2014 to 1.5%, despite predicting that the unemployment rate...
Share buy back rules are set to be changed in order to help increase direct employee ownership and the cutting of red tape, Employment Relations and Consumer Minister Jo Swinson has announced. This will mean that if an employee leaves a company, the employer...
Many UK businesses are concerned about cash flow in the next 12 months, a report from Santander Corporate & Commercial has found. The study of businesses across the UK found that 17% are "very" concerned about cash flow in the next year. At...
Introduced in 2009, the Primary Authority scheme is intended to support local economic growth, with consistent advice on trading standards and environmental health. It is set to be extended further, in order to allow thousands more firms to benefit...
300 financial leaders are expected to meet at the Global Investment Conference (GIC) in London on 9 May to discuss ways of encouraging economic growth and business investment. The GIC is also intended to promote the UK as an attractive place to do...
Some small and medium sized enterprises (SMEs) are failing to make plans for the departure or retirement of the main director, a report from Lloyds TSB Commercial Banking has found. In a survey of approximately 1,800 business across the...
