AS2013: ‘Britain on track’, claims Osborne
A round-up of the Autumn Statement's key points
A round-up of the Autumn Statement's key points
BRITAIN is still on track to wipe out its deficit, George Osborne claimed in his Autumn Statement today.
Chief among his pledges in his 50-minute speech were the abolition of basic rate employer’s national insurance contributions for people under 21 and the imposition of capital gains tax on non-residents selling UK property.
New measures against tax avoidance including compelling people in avoidance schemes already deemed to not work to pay up before tribunals conclude. Promoters of high-risk schemes are to be named and shamed, too, while changes will be made to the taxation of partnerships.
In all, it is expected the anti-avoidance measures will protect £9bn for the Treasury.
For businesses, he promised a cap on business rates rises 2% and a £1,000 reduction for small retailers.
Reeves tax partner Geraint Jones backed the national insurance break for businesses employing young people.
He said: “This is a good idea. Anything encouraging the employment of school leavers is a positive move. How this will impact people’s employment once they reach the age of 21 or exceed the limit will be interesting to see.”
MHA McIntyre Hudson tax partner Tom Byng added: “The business rates caps and reliefs are very welcome. They should encourage investment and help regenerate the UK’s high streets.”
More about:
The numbers you crunch tell a story. Your expertis...
10yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleAccountancy Age speaks to Mel Stride, the new Financial Secretary to the Treasury, about Making Tax Digital, what to expect from the Summer Finance Bi...
View articleThe Treasury is consulting on how businesses remunerate their staff to assess whether companies are artificially using benefits in kind to avoid tax R...
View articleBritain will continue to attract investment by reducing corporation tax by 5%, Osborne reveals Read More...
View articlePanama Papers anonymous whistleblower 'John Doe' reaches out to government authorities, and has called on global powers to 'end financial secrecy' Rea...
View articleUK-led beneficial ownership plans adopted in over 20 jurisdictions, including Gibraltar, Isle of Man and Montserrat Read More...
View articleNations that defy international tax agreements should be listed and punished accordingly, Osborne suggests Read More...
View articleOsborne delivers ‘another hammer blow’ to offshore tax evasion by announcing data partnership with biggest European economies Read More...
View articlePrime minister set to make announcement on companies which encourage tax evasion, while he launches joint taskforce with HMRC to deal with Panama Pape...
View article