According to George Osborne’s Autumn Statement and Spending Review, we all look set to face a galvanised HMRC, with an increased war chest for tackling tax evasion and avoidance. The Chancellor believes £5bn of additional revenue is expected to be raised by his new range of initiatives. Measures are planned to introduce new penalties for the General Anti-Abuse Rule (GAAR) and disguised remuneration schemes.
Just over four months ago, George Osborne delivered his second Budget of 2015, following the Conservative Party’s outright victory in the May general election. At that moment, the view from 11, Downing Street must have looked remarkably pleasant. Osborne’s handling of the economy was widely credited with playing a large – if not pivotal – part in the election victory. Boris Johnson and Theresa May, the Chancellor’s two main rivals in the race to succeed David Cameron, were both listing badly – albeit they hadn’t quite run aground.
Before your children are off to primary school, they may be with you for much of your weekday life, and go with you wherever you go. So when you go shopping, to the bank or cash machine, they may well be there with you but are probably a bit young to be learning much about handling money, savings and being careful with their cash.
The UK is set to have a referendum by the end of 2017 which will determine whether or not we will remain a member of the European Union. In this referendum everyone of voting age will take part, answering “Yes” or “No” to the question of whether they wish to remain a part of the EU. There’s no doubt that leaving the European Union would bring about quite a few changes in the UK, but how would this decision affect Small and Medium sized Enterprises?
An analysis of the Chancellor’s Summer Budget recently published by ‘This is Money’ presents the outcomes for individuals and families in relation to broad categories of ‘Winners’ and ‘Losers’. One category labelled as winners are Taxpayers.
Those who listened to the Summer Budget on 8th July for news affecting small businesses will no doubt have been glad to see corporation tax slashed and the employment allowance increased, but an article recently published by KPMG asked, did the Summer Budget go far enough in announcing measures to help small businesses grow?