Taxation
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Investment companies have called on the chancellor to ditch budget plans to apply inheritance tax on undrawn pensions. A letter penned by the chief executives of AJ Bell, Hargreaves Lansdown, Interactive Investor and Quilter, which collectively manage £430bn of investments for UK customers, says there is “concern” about the proposals put forward by Rachel Reeves.…
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HM Revenue and Customs has been accused of “degrading its own services” and damaging trust in the tax system by parliament’s spending watchdog. A report from the Public Accounts Committee raised concerns about the tax agency, claiming it had worsened its telephone service “as a matter of policy” to drive users to digital channels. HMRC…
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Chancellor Rachel Reeves has been speaking at a fringe event at the World Economic Forum in Davos. Asked about the 10,800 millionaires who left the UK last year, Ms Reeves revealed the government will be tabling an amendment to the Finance Bill, which will see the October budget’s taxation plans become law. “We have been…
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Businesses are more concerned about tax than at any other time since 2017, a survey has found. The quarterly survey by the British Chamber of Commerce, a corporate lobby group, found 63% of business cited tax as a worry in the final quarter of last year – up from 48% in the previous three months. The levels in certain…
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The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing banks to implement a controversial 0.5% cybersecurity levy on electronic transactions. The decision of the apex bank to withdraw the circular followed the public outrage that trailed the announcement of the policy two weeks ago and the suspension of the levy by the…
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Tapping Emergency Reserves This is, almost without exception, a big, fat, NO. Raiding your emergency fund simply to maintain the posh lifestyle to which you have become accustomed is an abysmal strategy. Keeping Showtime Anytime may be important, but it’s not likely to meet the definition of a crisis. Remember Steklov’s warning: Nobody picks the day their car engine…
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Finance ministers from wealthy G7 nations on Saturday endorsed a global minimum corporate tax of at least 15 percent, rallying behind a U.S.-backed plan targeting tech giants and other multinationals accused of not paying enough. The G7 deal for a minimum global corporate tax of at least 15 percent is a “historic step” in the…
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In response to Cristiano Ronaldo’s rant that Real Madrid have always “erroneously” placed him second to Don Alfredo di Stefano, who is considered a legend at the Santiago Bernabue, the club says both are recognized for their immeasurable contributions but will never match each other for some reasons explained below. Let me tell you…
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