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.... The company paid £1. 67m in UK corporation tax. ... [Read full article on Guardian ]
Friday 14th of July 2017 10:09:41 AM
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....But, if Ashley truly wants to herald a new era, he should let Hellawell go and avoid another showdown in September. The corporate boast about the £420m in corporation tax that has been paid in 10 years as a public company is fair. ... [Read full article on Guardian ]
Thursday 20th of July 2017 06:48:36 PM
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Latest Finance News related to Corporation Tax

The promise of a new era at Sports Direct must also mean new personnel image
Source : Guardian [Read Article] Thursday 20th of July 2017 06:48:36 PM
....But, if Ashley truly wants to herald a new era, he should let Hellawell go and avoid another showdown in September. The corporate boast about the £420m in corporation tax that has been paid in 10 years as a public company is fair. ...
Mark Zuckerberg’s got some cheek, advocating a universal basic income | Sonia Sodha image
.... Zuckerberg has no right to pronounce on what the welfare state should look like while Facebook takes aggressive measures to minimise its tax burden. Here in the UK, Facebook paid just £4,327 in corporation tax in 2014, despite paying its UK staff bonuses of £35m. ...
Ending austerity means increasing taxes or deficit, warns thinktank image
Source : Guardian [Read Article] Saturday 8th of July 2017 07:00:02 AM
.... If we want a serious discussion on ending austerity, we need to get serious about prioritising what spending we really want to see rise and how we want to pay for it – and that means tax rises for most of us. “The chancellor can start by cancelling unneeded corporation tax cuts. ...
France steps up effort to woo London banks planning Brexit move image
Source : Guardian [Read Article] Friday 7th of July 2017 02:05:15 PM
.... It’s understandable that European competitors will try to lure firms into moving jobs away from London. “However, we are confident that plans to lower corporation tax to 17% by 2020, a commitment to boost national infrastructure and developing trading relationships with new international partners in the coming years will ensure that London remains a world-leading financial hub. ...
Jeremy Corbyn: UK firms must pay more tax to fund better education image
Source : Guardian [Read Article] Thursday 6th of July 2017 11:20:27 AM
....”. Asked if he could understand the worry that some businesses might relocate to France if, as mooted, Emmanuel Macron, the president, lowers corporation tax, Corbyn said the UK should resist following suit. ...
Theresa May defends public sector pay cap under pressure from Labour image
Source : Guardian [Read Article] Wednesday 5th of July 2017 07:23:29 PM
....Philip Hammond, who has admitted that he would have liked the economy to play a more central role in the election campaign, has resisted pressure to ease up on austerity, warning his cabinet colleagues that money to fund extra spending pledges would have to come from cuts elsewhere or tax increases. One suggestion is that the Treasury could cancel planned tax cuts, including to the rate of corporation tax, as the Labour manifesto mooted. ...
Pain without gain: the truth about austerity | Phillip Inman image
Source : Guardian [Read Article] Sunday 18th of June 2017 04:54:09 PM
....The combination of all these trends allows employers to keep wage rises at about 2%. These are the same employers who, despite enjoying a cut in corporation tax from 28% since 2010 to 19% today under the Conservatives and the promise of 17% by 2020, are hoarding profits and investing very little to increase output. ...
Philip Hammond under pressure to spend to lure voters back to Tories image
Source : Guardian [Read Article] Saturday 17th of June 2017 03:00:41 PM
....But Torsten Bell, director of the Resolution Foundation, said it was clear that Hammond took a different view and was unreceptive to the idea of permitting a big increase in the deficit. Bell said one way to pay for spending increases would be to delay some of the more expensive proposed tax cuts – raising the personal allowance, increasing the upper rate threshold and reducing corporation tax – that the government has lined up for the current parliament. ...
Bosses under fire for telling staff to vote Tory or risk losing jobs image
Source : Guardian [Read Article] Monday 12th of June 2017 04:05:44 PM
....He said Theresa May was not the perfect PM but was a far better option than Jeremy Corbyn, who he said would be a nightmare. Brooker said Corbyn “resents those making good money, wants to hike corporation tax up by 7% immediately, hike higher rate tax payers by another 5%, bring far more people into the 40% tax bracket [and there are a lot of you here at Storm] borrow billions which at some point has to be paid back and will generally send us backwards. ...
How will the City react to a Tory or Labour general election victory? image
Source : Guardian [Read Article] Thursday 8th of June 2017 09:10:38 AM
....Pledges in the Labour manifesto that energy companies will be taken back into public ownership, the privatisation of Royal Mail will be reversed and a consultation will take place on breaking up Royal Bank of Scotland may rattle the stock market. Labour also wants to increase corporation tax to 26% in 2020 from 19%, which could also knock sentiment on the stock market. ...
General Election result is make or break for investors image
Source : Daily Express [Read Article] Wednesday 7th of June 2017 12:01:00 AM
....She says a Corbyn win or Labour-led coalition would trigger a short, sharp decline in share prices and sterling. Shadow Chancellor John McDonnell’s proposed hike in corporation tax to 26 per cent would hit profits and markets, while tighter regulations could knock bank sector profitability. ...
The Guardian view on the economy: invest for growth | Editorial image
Source : Guardian [Read Article] Tuesday 6th of June 2017 07:08:11 PM
.... Corporate profits will be returned to 2010 levels to fund it. The Conservatives expect lower corporation tax rates to finally trigger an increase in investment, and economic growth strong enough to offset the party’s painful austerity agenda. ...
Shrinking tax base suggests personal allowance is generous enough image
Source : Guardian [Read Article] Thursday 1st of June 2017 07:03:03 PM
....The threat that professionals, from doctors and accountants to management consultants and bankers, will take their money offshore has some foundation to it. But, more importantly, working for a PAYE employer will be considered a mug’s game compared with running a small company and paying 19% corporation tax. ...
Paradise in the Med image
Source : BBC [Read Article] Thursday 25th of May 2017 09:54:43 PM
.... . While local businesses must pay 35% on profits, international corporations profit from a corporation tax rate of as little as 5%, thanks to a complex system where shareholders can receive a tax refund of up to six-sevenths of their tax paid in Malta. ...
Labour gambles on tax and spend – but will the public back it? | Larry Elliott image
.... The gamble is that on tax, if not welfare or immigration, Britain has moved to the left over the past decade, with bubbling public anger at “fat cat” pay and the widening gap between rich and poor. Almost half of Labour’s proposed tax increases come from corporation tax (£19. ...
Labour manifesto: Extra £48.6bn in tax revenue to fund pledges image
....It also includes the nationalisation of England's water companies and scrapping university tuition fees. Labour said all the pledges were costed, with other fundraising measures including corporation tax rises, a crackdown on tax avoidance and an "excessive pay levy" on salaries above £330,000. ...
Labour reveals 'fat cat' tax pledge aimed at reining in excessive pay image
.... Those proposals, which were not included in last week’s leaked draft manifesto, will be published in a separate document. Money for a series of giveaways will come from reversing corporation tax and inheritance tax cuts and a proposal to hit City transactions with a “Robin Hood tax”. ...
General election 2017: Labour 'plans water industry nationalisation' image
.... . They have been clear that they will increase income tax for the wealthiest 5% of taxpayers earning more than £80,000 a year and increase corporation tax by 19% to 26%. ...
Is Labour's manifesto living in fantasy land? Quite the opposite | Larry Elliott image
....That said, though, there are plenty of good things in the manifesto. The employers who whinge constantly about the poor quality of school leavers and graduates will be asked to contribute more to the education budget through higher corporation tax. ...
The left must take a lesson from the right and come together to win | Will Hutton image
.... Addressing the housing crisis with more and better homes is hard to fault. Funding this by reversing some of the recent cuts in taxation, for example returning corporation tax rates to 2012 levels, is hardly the stuff of revolution. ...
May to appeal to low-paid voters with new social housing pledge image
Source : Guardian [Read Article] Saturday 13th of May 2017 09:00:05 PM
....It marks the next phase of the party’s decision to ask businesses to pay more towards funding the state. John McDonnell, the shadow chancellor, has already announced plans to increase corporation tax from the current rate of 19% to 26% by the end of the decade. ...
Can corporation tax pay for Labour's education pledge? image
Source : BBC [Read Article] Thursday 11th of May 2017 05:09:52 AM
Corbyn needs to find £10bn a year to make good on tuition fee pledge | Phillip Inman image
....The shadow education secretary, Angela Rayner, has not ruled out Labour making good on the pledge – although the party has yet to spell out how it would be funded. It is unlikely that it could be paid for by raising corporation tax to 26%, since much of that revenue is already earmarked, including £8bn for schools, educational maintenance grants and free school meals for all primary school pupils. ...
Labour corporation tax hike could help schools but dent economy, says IFS image
. Labour’s plan to fund higher school spending through increases in corporation tax could boost educational performance but would risk damaging the economy’s long-term growth prospects, the Institute for Fiscal Studies has said. ...
Macronomics image
Source : BBC [Read Article] Monday 8th of May 2017 07:46:22 AM
Fangs: the lightning rise of Facebook, Amazon, Netflix and Google image
Source : Guardian [Read Article] Saturday 29th of April 2017 08:00:25 AM
....What lies behind the astronomical increase in value of the Fangs? To a certain extent, they’ve been buoyed by the same tide that raised US shares to record highs this year, the election of Donald Trump. The new president may threaten trade wars and real wars, and prompt unheard-of levels of domestic unrest, but to Wall Street investors, all that pales in comparison to a couple of policy proposals that have been on the cards since the day he won the Republican nomination - lower corporation taxes and a tax holiday on repatriated cash. ...
US growth rate hits three-year low image
Source : BBC [Read Article] Friday 28th of April 2017 12:40:39 PM
....It will be unwelcome news for President Donald Trump who, during his election campaign, made a pledge to raise growth to 4%. In a bid to fulfil that promise, on Wednesday the White House proposed slashing the rate of corporation tax. ...
Trump seeks tax windfall for business image
Source : BBC [Read Article] Wednesday 26th of April 2017 12:20:53 PM
Hard tackling image
Source : BBC [Read Article] Wednesday 26th of April 2017 11:25:54 AM
.... . The star would then pay corporation tax at a lesser rate than income tax. ...
Stock markets surge to new highs ahead of Trump's tax reform plan image
Source : Guardian [Read Article] Tuesday 25th of April 2017 05:35:25 PM
.... The index was boosted by technology giants such as Amazon, Apple, Microsoft, Google and Facebook, which will be among the main beneficiaries of any Trump tax reforms. The president’s long-awaited announcement is now expected on Wednesday, with suggestions of a cut in corporation tax from 35% to 15% and possible reductions in income tax rates, particularly for middle-income earners. ...
Labour plans to halt 'epidemic' of high street bank closures image
Source : Guardian [Read Article] Thursday 13th of April 2017 11:01:17 PM
....Responding to the announcement, the Conservative vice-chair and MP for Pudsey, Stuart Andrew, did not specifically comment on the plan, but criticised Labour’s wider policies. “Labour’s plan for our high streets would see corporation tax going back up to 28% and £500bn of extra debt – all under a Labour leader who said that we should not be afraid of debt or borrowing,” he said. ...
Starbucks blames UK profits plunge on Brexit and slowing growth image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:32:31 PM
....Starbucks became the poster child for corporate tax avoidance in 2012 after details of its meagre tax contribution emerged. The furore prompted a deal with HMRC to waive tax deductions and pay £20m in voluntary corporation tax over two years, including £11. ...
Firms dispute Jeremy Corbyn's claim they pay bills late image
Source : BBC [Read Article] Tuesday 11th of April 2017 12:11:53 PM
....And he repeated Labour's pledge to create regional investment banks to make it easier for businesses to access finance. He said he wanted to create a "level playing field" for entrepreneurs by increasing corporation tax on big business and cracking down on tax avoidance, with the cash raised to be spent on improving skills training. ...
Corbyn attacks M&S and other big firms over late supplier payments image
Source : Guardian [Read Article] Tuesday 11th of April 2017 11:13:04 AM
....Any company bidding for public-sector contracts with a future Labour government would have to pay its own suppliers within 30 days, Corbyn said on Tuesday, and Labour would consider creating a binding arbitration system, with fines for persistent late-payers. The Labour leader pledged not to increase the corporation tax rate for small businesses and to scrap quarterly reporting for businesses with turnover of less than £83,000, calling it “a burden, a distraction, that will hold entrepreneurs back”. ...
Landlord tax changes come into effect TODAY: 'Renting will be more expensive', say critics image
....“We call on Ministers to undertake a major review of the impact of this policy and if all the predictions about its impact are right, to abolish the changes in the autumn budget. ”Buy-to-let 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). ...
EU financial centres vie to poach tens of thousands of City jobs image
Source : Guardian [Read Article] Monday 3rd of April 2017 05:30:14 AM
....A wide-ranging review of reports, research papers and press releases showed that the French government had come under intense pressure to match London’s business-friendly environment. The socialist administration has been urged to cut its headline corporation tax rate from 33% to 25% to close the gap with the UK’s, where corporation tax falls to 19% this month. ...
Tory donor Lycamobile in £26m tax dispute image
Source : Guardian [Read Article] Monday 3rd of April 2017 05:30:14 AM
....Lycamobile gave nearly £1m to the Conservatives in 2015, while Subaskaran has previously been a guest at the Tories’ “black and white” election fundraiser at Grosvenor House hotel in Mayfair, an event for which guests paid up to £15,000 a table. His company’s support of the Conservative party has previously come under scrutiny after it emerged in 2012 that it had paid no corporation tax for three years. ...
Robbing Paula to pay Peter in the boardroom image
Source : Guardian [Read Article] Sunday 2nd of April 2017 05:59:46 AM
....As Suren Thiru, head of economics at the British Chambers of Commerce (BCC), puts it: “We enter a new tax year with a raft of changes adding to the upfront cost of doing business. While corporation tax is decreasing, companies are more concerned about the escalating burden of input costs, which hit firms before they even turn over a single pound. ...
Google reveals latest UK tax bill image
Source : BBC [Read Article] Friday 31st of March 2017 02:19:00 PM
....Google was charged £36. 4m in UK corporation tax last year, according to its latest accounts. ...
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%. ...

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