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....”. The investor said that the tariffs were a “tiny penalty to pay” compared to other taxes such as corporation tax. ... [Read full article on Guardian ]
Monday 27th of March 2017 05:00:00 AM
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....Caton also defended the tax Mondelēz pays. The company paid no corporation tax in the UK in 2015 and 2014, the last years for which figures are available. ... [Read full article on Guardian ]
Friday 24th of March 2017 01:56:19 PM
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Latest Finance News related to Corporation Tax

Cadbury says chocolate could get smaller after Brexit image
Source : Guardian [Read Article] Friday 24th of March 2017 01:56:19 PM
....Caton also defended the tax Mondelēz pays. The company paid no corporation tax in the UK in 2015 and 2014, the last years for which figures are available. ...
Why becoming a tax haven would be bad news for Britain image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:30:42 PM
.... In Ireland, 12. 5% (its corporation tax rate, compared to 20% in the UK) might as well be the symbol of the state, so universal is cross-party allegiance to it. ...
Thames Water hit with record £20m fine for huge sewage leaks image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 11:49:38 AM
.... The company apologised unreservedly, as it had when fined £200,000 in 2013 for similar offences. Water companies have been frequently criticised for making huge profits and awarding large shareholder dividends while paying little or no corporation tax. ...
Lord King: Scotland 'could be independent' image
Source : BBC [Read Article] Monday 20th of March 2017 09:34:16 PM
.... . And he added: "There's no reason why the rate of corporation tax in Northern Ireland has to be the same as in the rest of the UK, once we have the freedom to do that. ...
Hard Brexit 'could increase cost of making a car in UK by £2,400' image
Source : Guardian [Read Article] Monday 20th of March 2017 06:34:46 PM
....Lawrence added: “Both the EU and the UK would benefit from keeping free trade and supply chains unaffected because any tariffs would be damaging for both sides based on today’s complex supply chain arrangements. “Carmakers will have to review their manufacturing and supply chain network and investment decisions and plan for scenarios based on extra tariffs and charges/incentives on corporation tax. ...
Jones Bootmaker is on the brink – but it's not all gloom on the high street image
....Profits for bricks-and-mortar shops are being squeezed by the rise of online shopping, an increase in staff costs brought on by the introduction of the national living wage, and fierce discounting of the price of their products, which is designed to attract shoppers but hurts profit margins. On top of this is business rates – a tax that takes no account of falling profit and is now more costly than corporation tax for many shops. ...
Striver? Tory architect of austerity George Osborne banks £1m fortune image
....Osborne last year earned £44,647 in dividends from Osborne & Little, the wallpaper firm co-founded by his father, Sir Peter Osborne, through direct ownership of shares and as a life tenant of a family trust whose assets include shares in that company. Osborne received the windfall dividend payment despite the family firm having paid no corporation tax since 2008 because it has rolled over losses from previous years. ...
Landlord tax: How to beat new buy-to-let charges coming in NEXT month  image
Source : Daily Express [Read Article] Friday 10th of March 2017 04:44:00 PM
....Buy-to-let returns are set to be eroded as mortgage interest tax relief is reduced to the basic rate of income tax over the next four years. Now rental property investors are increasingly using commercial loans and setting up companies to buy investment property and instead pay corporation tax at 20 per cent, according to the National Landlords Association (NLA). ...
The shameless Tories have betrayed the self-employed – and themselves | John Harris image
.... Whatever, as automation eats away at conventional employment and technology allows companies to base their hiring decisions on hour-by-hour calculations, this model will only gain ground. So, who will the government help? For the platform giants, Hammond and the Tories go weak-kneed: corporation tax is due to fall to 17% by 2020. ...
'This is grossly unfair': self-employed readers react to NICs increase image
Source : Guardian [Read Article] Thursday 9th of March 2017 02:21:03 PM
....I don’t think that self-employment is good for society, it just temporarily postpones the problem with pensions and social care by almost getting people out of the system. So if you support that kind of work as a government, the stance should be to give us sick leave and maternity leave paid by the state and an increase in taxation, but mostly by corporation tax or a financial transaction tax. ...
Budget tax rise image
Source : BBC [Read Article] Thursday 9th of March 2017 01:40:23 PM
....He says that only the self-employed with profits over £16,250 will have to pay more as a result of these changes - at an average cost of £31 a year to those affected. Alettia Elwin, who is self-employed and teaches music to children, says that Mr Hammond should have targeted large businesses, who are seeing a cut in corporation tax, rather than the self-employed. ...
Hammond seems to be expecting business rates storm to just blow over image
Source : Guardian [Read Article] Wednesday 8th of March 2017 07:42:51 PM
....Simple alternatives are not easy, of course. We already have VAT and corporation tax applies to profit. ...
Budget 2017: NHS, families, cars - your questions answered image
Source : BBC [Read Article] Wednesday 8th of March 2017 05:14:18 PM
....Meanwhile the government's Red Book lists these other changes:. Doug asks: "How much will the reduction in corporation tax cost this country from 2010 to 2020?". ...
Business wish list image
Source : BBC [Read Article] Sunday 5th of March 2017 01:37:19 AM
....The IoD also wants to see an increase in the Annual Investment Allowance cap to £1m to boost investment by small and medium-sized businesses. The government should reiterate its manifesto pledge for the UK to have the lowest corporation tax rate in the G7 countries. ...
Buy-to-let landlords face huge tax increase from new law image
Source : Daily Express [Read Article] Sunday 5th of March 2017 12:01:00 AM
....Growing numbers of landlords are now setting up limited companies to sidestep the new rules. “Not only will they get full tax relief on their financing, they will pay corporation tax at just 19 per cent, which falls to 17 per cent in 2020,” Andrews adds. ...
London loses out in business rates revamp image
Source : BBC [Read Article] Saturday 4th of March 2017 12:07:28 AM
.... . In the 2004-5 tax year London's taxes - including income tax, corporation tax and stamp duty - accounted for 25% of Britain's overall tax revenue. ...
Dyson shrugs off Brexit fears with massive UK expansion plan image
Source : Guardian [Read Article] Tuesday 28th of February 2017 07:19:58 PM
.... The world outside Europe is expanding faster than Europe, and that is the same for Dyson,” he said. The tycoon said that Britain is a “great place to do business” due to the low rate of corporation tax, the skills of engineers and scientists, and the decline in the value of the pound against the dollar and euro. ...
Business rates: this toxic row will return unless we find a fairer alternative | Nils Pratley image
....There are, of course, no easy alternatives to a tax that raises £28bn a year for councils and the government. We already have a sales tax called VAT and corporation tax applies to profit. ...
Baby boomers don’t deserve to be punished | Letters image
Source : Guardian [Read Article] Sunday 19th of February 2017 06:31:16 PM
.... The firm my husband worked for paid for a staff trip every year – usually to Blackpool for the day. In addition, the company paid 52% corporation tax, and the chairman said he was happy to pay that tax. ...
Small shops recoil in the face of business rates that will more than double image
Source : Guardian [Read Article] Saturday 18th of February 2017 04:00:05 PM
....A report three years ago led by John Rogers, now the boss of Argos, and accountancy firm EY outlined four alternatives. These include measuring energy usage rather than property values; offering discounts for employing workers; linking business rates to corporation tax; and tweaking the existing system by introducing more frequent revaluations. ...
UK business rates battle hots up as firms challenge government image
Source : Guardian [Read Article] Friday 17th of February 2017 11:52:58 AM
.... But appeals are less likely to be successful now and the outcome appears to be unfair, which will no doubt deter many businesses from trying. “Business rates are a significant cost, raising approximately half as much as corporation tax. ...
A stock market crash is a way off, but this boom will turn to bust | Larry Elliott image
....Wall Street is also salivating at the prospect of nice fat tax cuts from Trump. The White House will announce details of its plans shortly but they are certain to involve a hefty cut in corporation tax. ...
'The UK is a tax haven' – Bermuda attacks plan to end financial secrecy image
....While Bermudian companies did not feature heavily in the Panama Papers, they have played a role in other financial scandals including Bernie Madoff’s notorious Ponzi scheme and more recently in fraudulent public offerings on the Singapore stock exchange. The mid-Atlantic nation is a major centre of tax avoidance, with Google and other multinationals attracted by a zero corporation tax rate. ...
Jeanette Winterson to close London shop due to business rates surge image
Source : Guardian [Read Article] Monday 23rd of January 2017 07:01:42 PM
....8bn – the tax has been condemned by some retailers who claim it fails to take into account financial performance and is based solely on the value of commercial property and the annual rate of inflation. Most high street retailers pay more in business rates than they do in corporation tax, leading to criticism that the levy hands an unfair advantage to online-only retailers such as Amazon because they control less property. ...
Formula One pulled a fast one on the US taxman – and it's all perfectly legal image
....Delta Topco’s revenue comes from four main sources – fees from race organizers, broadcasters and sponsors as well as the sale of corporate hospitality tickets. The vast majority of this is received by the company’s subsidiaries in Britain where corporation tax comes to 20%. ...
Davos without Donald Trump is like Hamlet without the prince image
Source : Guardian [Read Article] Tuesday 17th of January 2017 10:29:43 AM
....It would be wrong, however, to imagine that business is terrified at the prospect of a Trump presidency. Boardrooms rather like the idea of a big cut in US corporation tax. ...
Malta accused of being tax haven as it takes EU presidency image
Source : Guardian [Read Article] Wednesday 11th of January 2017 08:00:14 AM
....”. On paper, Malta has the highest corporation tax in the EU – 35%. ...
Basic shop disciplines deliver Morrisons a merrier Christmas image
Source : Guardian [Read Article] Tuesday 10th of January 2017 03:13:19 PM
.... Corbyn should set out his proposed rates – it’s the detail that matters. Fourth, Corbyn said companies that don’t pay anyone more than a certain multiple of the pay of the lowest earner could enjoy a lower rate of corporation tax. ...
Jeremy Corbyn suggests maximum earnings limit image
Source : BBC [Read Article] Tuesday 10th of January 2017 09:32:25 AM
....On Europe, Mr Corbyn attacked the government's lack of clarity over its negotiating objectives and said while there was no doubt that Brexit would happen, the UK must continue to have a close trading relationship with the EU after its exit. "What we don't want to do is turn Britain into a bargain basement economy on the shores of Europe where we continuously reduce corporation taxation, encourage a low-wage economy," he said. ...
Chancellor failing to cancel ‘tax giveaway’ to banks, says Labour image
Source : Guardian [Read Article] Monday 2nd of January 2017 02:18:10 PM
....Big banks, including HSBC and Standard Chartered, which felt penalised by the levy, told him that they could move their headquarters outside the UK. Osborne announced phased cuts in the levy over the parliament and made up the shortfall in revenue by imposing an 8% surcharge on banks’ corporation tax, which falls on all lenders, not just the largest. ...
Dozens of UK banks and financial firms 'looking at moving to Ireland' image
Source : Guardian [Read Article] Sunday 25th of December 2016 09:00:09 AM
....Shanahan told the Guardian that Ireland’s low 12. 5% corporation tax remained sacrosanct as one of the Irish Republic’s key fiscal policies. ...
Ireland may not get Apple's €13bn back taxes in full, EU says image
Source : Guardian [Read Article] Monday 19th of December 2016 11:56:26 AM
....Only national tax authorities can decide whether they wish to pursue Apple for taxes on profits booked in Ireland. While Brussels is confident it will win its case, the Irish government accused the commission of riding roughshod over Ireland’s sovereignty, by trying to rewrite the country’s corporation tax rules. ...
Bermuda is world's worst corporate tax haven, says Oxfam image
Source : Guardian [Read Article] Monday 12th of December 2016 12:01:40 AM
....”. UK corporation tax is due to fall to 17% by 2020 from its current level of 20%, and the prime minister has suggested there could be further cuts to attract businesses. ...
McDonald's to scrap Luxembourg tax structure image
Source : Guardian [Read Article] Thursday 8th of December 2016 05:11:31 PM
.... In October last year, G20 leaders agreed a radical overhaul of international tax rules designed to stamp out such loopholes. The Organisation for Economic Co-operation and Development, a thinktank for developed economies responsible for drawing up the revisions, has estimated that, even on conservative assumptions, large global businesses were shifting profits and eroding the tax receipts of economies around the world at a cost of $100bn-$240bn (£65bn-160bn) a year – equivalent to between 4% and 10% of global corporation tax revenues. ...
McDonald's to move non-US tax base to UK image
Source : BBC [Read Article] Thursday 8th of December 2016 02:38:31 PM
....Kamal Ahmed: Theresa May's post-Brexit economy test. A McDonald's spokesman said the shift in the tax domicile for its non-US operations was not to do with obtaining a better rate of corporation tax, but was more to do with making its operations more efficient. ...
Heard the latest Christmas story? It’s about how UK banks pay all their taxes | Prem Sikka image
.... Newspapers sympathetic to the finance industry have latched on to the headline figures, but the fine print of the report tells another story. The report says that it uses “the PwC Total Tax Contribution methodology, which looks at all the different taxes that companies pay and administer, including corporation tax, employment taxes, VAT, and other taxes”. ...
Landlords scramble to avoid higher buy-to-let taxes, report finds image
Source : Guardian [Read Article] Friday 2nd of December 2016 12:01:00 AM
.... “You cannot just transfer a property into a company – you have to sell it to the company and that could trigger other costs,” he said. “While corporation tax is low, you do have to think about things like how you will get your income out of the company. ...
Ikea considers bamboo and new materials to keep prices low image
Source : Guardian [Read Article] Tuesday 29th of November 2016 12:01:33 AM
....Drakeford also defended Ikea’s tax policy after claims by the Green/EFA group in the European parliament that it may have underpaid taxes by €1bn (£853m) between 2009 and 2014 due to aggressive strategies. She said Ikea had paid £97m of corporation tax in the UK since 2012 and had not received any requests from the European commission for information about its tax payments. ...
Philip Hammond defends 'doom and gloom' Brexit forecast image
Source : Guardian [Read Article] Thursday 24th of November 2016 09:38:25 AM
....Speaking earlier on the programme, the shadow chancellor, John McDonnell, said Hammond had some wrong economic priorities given the uncertain economic climate. “They have given tax giveaways on capital gains tax, corporation tax, inheritance tax to the wealthy in our community and corporation, cutting universal credit to people they call Jams – just about managing – people going into work, looking after their families, doing everything they ask for,” he said. ...
Brexit will blow £59bn hole in public finances, admits Hammond image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 08:39:09 PM
....”. While Hammond unravelled some of Osborne’s policies, including his strict tax and spending rules, he reaffirmed several of his predecessor’s key pledges, including raising the tax-free personal allowance to £12,500 a year by the end of this parliament, and cutting corporation tax to 17%. ...
The chancellor has failed to provide a clear direction on Brexit | Alistair Darling image
.... I know from experience that announcing new roads is the easy bit – it will take years to get them built. Reducing corporation tax as planned will be welcome, but many businesses would prefer some certainty on the government’s post-Brexit migration policy. ...
McDonnell: Chancellor's spending plans 'offer no hope' image
Source : BBC [Read Article] Wednesday 23rd of November 2016 02:43:04 PM
....He described the scrapping of tenant and letting fees as "a victory for Labour campaigning", but said home ownership was still "a dream" for the under 25s because fewer houses had been built under the Conservatives since the 1920s. He said the chancellor was "continuing a race to the bottom" on corporation tax, while continuing to cut public services and cut taxes for big businesses. ...
Government borrowing falls on record October tax take image
Source : BBC [Read Article] Tuesday 22nd of November 2016 10:38:31 AM
....Overall tax income in October was the highest since records began, driven in part by a 23. 6% jump in corporation tax receipts. ...
May just about manages to hold CBI's attention - thanks to a moth image
Source : Guardian [Read Article] Monday 21st of November 2016 07:09:05 PM
.... In fact far less than they had imagined as May went on say that they needn’t worry about putting workers’ representatives on their boards after all. The European head honchos of Facebook and Google, who were lined up to speak after Theresa, were less impressed when she told them she was also planning on lowering corporation tax further. ...
Theresa May bids to reassure business on Brexit 'cliff-edge' image
Source : BBC [Read Article] Monday 21st of November 2016 04:24:39 AM
.... . £2bn of new money for research and development was welcomed and business leaders seemed to accept the essential premise of the grand bargain she is offering - the government invests to boost productivity and cut corporation tax in exchange for help in tackling the worst excesses of capitalism. ...
'Just about managing' families to be £2,500 a year worse off by 2020 – study image
....The prime minister will also announce tax breaks and an annual £2bn investment fund for research and development to big businesses on Monday – an offer likely to be criticised for failing to address welfare cuts. She will further woo big business by slashing corporation tax to the lowest level out of the world’s top 20 economies, according to reports. ...
Business rate hike may force UK's shops to raise prices image
Source : Guardian [Read Article] Sunday 20th of November 2016 06:03:24 PM
.... The tax is based on the value of commercial property and the annual rate of inflation, but retailers claim it takes no account of financial performance and they are overly burdened by the levy because they rely so heavily on property. Most high street retailers pay more in business rates than they do in corporation tax and claim it hands an unfair advantage to online-only retailers such as Amazon, because they control far less property. ...
The Observer view on the autumn statement | Observer editorial image
Source : Guardian [Read Article] Sunday 20th of November 2016 12:05:22 AM
.... If he continues with Osborne’s promised tax cuts, Tory chancellors will have cut taxes to the value of £40bn a year since 2010. Increases in the personal allowance, disproportionately benefiting higher earners, will have cost £21bn a year by 2020; cutting corporation tax to Osborne’s planned 17% rate in 2020 will have cost £12bn. ...
Ireland must plan for possible EU breakup, says economic adviser image
Source : Guardian [Read Article] Tuesday 15th of November 2016 02:39:07 PM
....Dublin needs to become one of France’s strongest EU allies as the union comes under more strain, Barrett said. Barrett, a former member of the Seanad, Ireland’s second parliamentary chamber, predicted that the US corporation tax rate would fall under Donald Trump. ...
Trumpism could be a solution to the crisis of neoliberalism image
Source : Guardian [Read Article] Tuesday 15th of November 2016 08:17:32 AM
.... But what would a feasible form of protectionism look like? The challenge will be to achieve stricter controls without beggaring the world economy or inflaming national rivalries and racist sentiment. Trump has also promised an $800bn-$1tn programme of infrastructure investment, to be financed by bonds, as well as a massive corporation tax cut, both aimed at creating 25m new jobs and boosting growth. ...
Former BHS owner Chappell arrested for 'unpaid tax bill' image
Source : BBC [Read Article] Sunday 13th of November 2016 10:08:17 PM
....6m by BHS following his controversial purchase of BHS from Sir Philip Green. The Guardian reported that Swiss Rock owed £365,000 in VAT and £196,306 in corporation tax. ...
BHS scandal: Dominic Chappell arrested amid tax investigation image
Source : Guardian [Read Article] Sunday 13th of November 2016 11:08:49 AM
....HM Revenue & Customs (HMRC) officers are understood to have arrested Chappell, 49, in a dawn raid at his home near Blandford Forum, in Dorset, south-west England. Chappell’s personal company, Swiss Rock Ltd, owes more than £500,000 in tax, including £365,000 in VAT and £196,306 in corporation tax. ...
Small businesses may end up paying the price for digital tax system image
Source : Guardian [Read Article] Thursday 10th of November 2016 12:00:32 PM
.... He is also chair of the tax panel at UK200Group. “Digital tax accounts will provide an overview of income tax or corporation tax, VAT and national insurance contributions, as well as income and expenses each quarter,” he adds. ...
US voters chose candidate with a more radical approach to economy image
Source : Guardian [Read Article] Wednesday 9th of November 2016 07:53:12 PM
....The plan is also to cut taxes for both individuals and companies. America’s corporation tax is one of the highest in the developed world at 35%. ...
Treasury tries to thwart EU plans for tax haven blacklist image
Source : Guardian [Read Article] Monday 7th of November 2016 07:07:19 PM
....The UK government is fighting a rearguard action to prevent Guernsey, Jersey and British overseas territories from going on an EU blacklist of tax havens. At a meeting of EU finance ministers on Tuesday in Brussels, David Gauke, chief secretary to the Treasury, will tell his counterparts that the UK opposes attempts to put territories with a zero rate of corporation tax on an EU list of “non-cooperative” jurisdictions. ...
UK government borrowing falls in August image
Source : BBC [Read Article] Wednesday 21st of September 2016 08:58:40 AM
....However, he has dampened down talk that he might reveal an increase in public spending when he reveals his Autumn Statement in November. The ONS said receipts from income and corporation taxes rose strongly compared with a year ago, but VAT receipts rose at their slowest annual pace since March 2015. ...
Apple tax ruling 'must not stand' says Enda Kenny image
Source : BBC [Read Article] Wednesday 7th of September 2016 08:32:46 AM
....However, Sinn Féin leader Gerry Adams said there had to be fairness in taxation. "There can't be one set of rules for some and different rules for others, with small and medium sized enterprises - the backbone of our economy - weighed down by government tax policies, while one very large company pays less than 1% corporation tax. ...
Apple tax case: Ireland's other taxing issue image
Source : BBC [Read Article] Tuesday 6th of September 2016 06:01:10 PM
....Reaching those profit targets has been helped enormously by a loophole in Irish tax law. No matter how big their portfolios, these funds are legally paying almost no corporation tax. ...
Amazon and Starbucks pay less tax than sausage stall, says Austria image
Source : BBC [Read Article] Friday 2nd of September 2016 09:55:20 PM
....Mr Kern, who heads Austria's Social Democrats and the country's coalition government, also said Facebook and Google had sales of more than 100m euros each in Austria. "They massively suck up the advertising volume that comes out of the economy but pay neither corporation tax nor advertising duty in Austria," he added. ...
Irish Cabinet meeting about Apple tax ruling adjourned until Friday image
Source : BBC [Read Article] Wednesday 31st of August 2016 07:23:55 AM
...."This decision has no effect on the 12. 5% rate of corporation tax and is not about Ireland's wider corporation tax regime. ...

Forget QE. Theresa May should cut taxes if she wants to drive growth
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Source : Telegraph [Read Article] Thursday 11th of August 2016 06:33:22 PM
....Brexit was always going to bring economic turbulence, as companies worry about Britain’s new trading relationship with Europe. To assuage them, corporation tax can be cut to 15 per cent – as, to his credit, Mr Osborne suggested shortly before his defenestration. ...

Donald Trump promises tax-free childcare to jump-start US economy
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Source : Telegraph [Read Article] Monday 8th of August 2016 10:54:54 PM
....However, Mr Trump was interrupted by protesters, mostly women, around a dozen separate times during his speech. The Republican presidential nominee said he would make the US a "magnet for investment" by cutting corporation tax from 35 per cent to 15 per cent, and "remove bureaucrats who only know how to kill jobs. ...

To save us all time and money, we should walk away from the EU now
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Source : Telegraph [Read Article] Thursday 4th of August 2016 06:12:17 PM
....There should be no need for Philip Hammond to deviate from fiscal prudence in the autumn. If he can afford cuts in tax such as corporation tax, good. ...

Government undermining efforts to put an end to tax avoidance from behind the scenes, warn MPs
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....The all All-Party Parliamentary Group on Responsible Tax has said the government should force multinational companies such as Google to publish information on their activities in every country where they operate. Their report suggested Britain had been two faced in its approach to tackling tax avoidance, by defending schemes such as patent box relief, which allows businesses to cut the amount of corporation tax they pay on profits generated by UK-owned intellectual property. ...

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