Corporation Tax

ROUNDUP: Business rates holiday announced by chancellor Sunak

In his maiden budget, the new chancellor, Rishi Sunak, has announced a £30bn fiscal stimulus package to help combat the impact of coronavirus on the British economy including a one-year total suspension of business rates for small retail, leisure and hospitality businesses. Headline measures include: A £12bn plan to provide…

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Ted Baker hanging by a thread amid £58m balance sheet black hole

If you have shares in Ted Baker, you are probably not having a good morning. The price has tanked by almost 7% after news broke that the fashion brand has found a £58m black hole in its accounts. There’s being a few hundred thousand or a few million short, but when…

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Finally, a government addressing the business rates fiasco

Regardless of your political colours, small businesses up and down the land will be pleased to hear of at least one policy which looks set to survive the transition from manifesto wish lists to actual policy and legislation, and that is a business rates overhaul. The prime minister, Boris Johnson, yesterday…

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The election is over – time for the Tories to deliver for small businesses

It now looks as though political stasis and all the damage that does to business will be lifted in 2020. Boris Johnson’s victory in the election is the Tories’ strongest since the Thatcher era, and gives him great scope to implement bold policies. At this juncture it’s worth taking a look…

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Businesses are sitting on £115bn and waiting to splurge

Goldman Sachs thinks money will pour into UK stocks and shares after this election, but it’s at least partly because they suspect a Tory victory. Regardless of which side of the Brexit divide you are on, there is one thing that’s for certain: business has been extremely cautious about the…

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UK Treasury rejects retailers’ business rates reform calls

The UK Treasury has today rejected calls from retailers who say business rates should be reformed to create a level playing field with online retailers. During a meeting of parliament’s Treasury Select Committee, chancellor Philip Hammond said reforming international corporation tax was a higher priority for the government, adding that…

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The Budget: At a glance guide

On March 16, George Osborne revealed his eighth budget as Chancellor. Pet Gazette brings you an at-a-glance guide to the highlights for businesses: Growth estimates for the year have been revised from 2.4 to 2.2 percent Inflation of 0.7 percent is expected for 2016 The headline rate of corporation tax…

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‘Lethal combination’ for UK retailers, says Tesco boss

Story by Michael Northcott The chief executive of Tesco, Dave Lewis, has warned that the UK retail sector is facing a “lethal cocktail” of rising costs. Speaking at the CBI’s annual conference, Lewis said rising business rates and the National Living Wage (introduced by George Osborne earlier this year) mean…

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Introducing the new National Living Wage

On July 8, the Government unveiled the first purely Conservative Budget for 19 years. Chancellor George Osborne’s “new contract” for the country introduced a National Living Wage for all working people over the age of 25. Minimum wage will reach £7.20 per hour next April, rising to £9 by 2020.…

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Starbucks pays up but business rates will still rise

Starbucks’ acceptance to pay increased corporation tax has done little to soften the news that business rates will not be frozen next year, as announced by the chancellor. George Osborne’s Autumn Statement dealt another blow to retailers and small businesses as he overlooked pleas to freeze business rates, despite much…

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