Shadow Chancellor’s Tax Priorities Action Plan Short on Detail

Ed Balls, the Shadow Chancellor of the Exchequer, recently gave a speech to the Labour Party Conference in Manchester about how a Labour government would tackle the economy.

As part of his tax priorities, some of the actions he talked about included:

• Establishing a British investment bank

• Cutting business rates

• Dealing with tax avoidance

• Raising the minimum wage

However, Micha… Continue Reading

New Tesco CFO Joins Early

With a financial crisis looming at Tesco following the news that they overstated their half-year profits by £250million the new chief financial officer (CFO), Alan Stewart, has started in his role early to deal with the situation. He had been due to start on 1^st December but his previous employer, Marks & Spencer, allowed him to cut short his notice period with them. There has b… Continue Reading

Alternatives to online VAT filing

As of July 2014 certain circumstances may make individuals exempt from online VAT Return submission and electronic payment of VAT following an amendment of the VAT regulations. Compulsory online VAT filing was introduced in two tranches in 2010 and 2012 and became effective for all businesses in April 2012. The amendment came about following appeals in a test case against the ma… Continue Reading

How the American FATCA Legislation is Affecting Britons.

In 2010 new legislation was passed in the US designed to prevent tax avoidance by American citizens working overseas, particularly in Europe. However, as of July this year the “Foreign Account Tax Compliant Act” (or FATCA) also applies in the United Kingdom and could affect British citizens and British companies. The total cost to British companies and individuals has been esti… Continue Reading