Brown ruled out 1980s-style enterprise zones, which used a bricks-and-mortar approach, claiming it would merely tempt businesses to move from one area to another with no net development gain.
Homestyle, the UK furniture retailer, was left reeling after it learned that it might have to pay an extra £23m in sales taxes. Customs & Excise had called into question the amount it paid on product guarantees sold between December 1999 and April 2001. Homestyle had been paying just 5% on the portion of bills that it claimed covered the guarantee, but Customs officials argued it was due the full 17.5% rate. Homestyle chief executive Michael Rosenblatt said he would challenge the demand.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states