News

UK could see a £30Bn drop in tax revenue due to slow economic growth

Just before the release of the much anticipated UK Autumn Statement 2016, several research projects show that tax income could fall below £30Bn below the predictions as a result of lower than expected growth throughout the year. With some studies showing that the UK could have to loan over £20Bn if there are no amendments to the current policy.


Hong Kong confirms tax agreements are in place with the UK & Japan

Hong Kong has confirmed the signing of agreements with the UK and Japan in order to start automatic exchange of financial information for all tax matters coming into effect by 2018.


The 2016 Small Business Conferences were held in London & Nottingham last week, and a small snippet of highlights regarding SMEs have been released by the AIA. The outcome of the 2016 SME highlights have shown very little changes from 2016 even though the UK Government announced a number of SME-friendly…


Stamp Duty Land Tax "barrier to property business growth"

Both residential & commercial property valuations in the UK are set to stay constant or drop over the next 6 months, in spite of the relatively long-term situation of demand surpassing supply, a UK Finance Minister has reported. Out of the 84 surveyed property businesses, 55% felt that Stamp Duty Land…


Plans for budget surplus in 2020 abandoned

Philip Hammond, the new Chancellor of the Exchequer has stated that the fiscal policies in the UK that were outlined by George Osborne were correct for that time in the UK. However, they had to be changed as there will no longer have a surplus target at the end of this parliamentary period.


The HMRC has started sending personalised Post-it notes to tax evaders

HMRC in the UK has started sticking Post-it notes written by hand on letters sent to tax evaders in a new attempt to encourage payment, and has recorded a high response rate, as they expand their use of a range of psychological strategies to inspire greater compliance.


UK SMEs paid a record 33B British Pounds in corporate tax in 2015

SME’s in the UK paid a record £33B in corporation tax in the financial year 2015-2016.This figure excludes income from financial services providers & oil & gas companies.