http://www.diigo.com/user/Tonycurzonprice/iref Mon, 09 Jun 2008 07:57:42 -0000 Mon, 09 Jun 2008 07:57:42 -0000 http://www.ft.com/cms/s/0/f5a04ef6-358d-11dd-998d-0000779fd2ac.html <p></p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content"><div class="ft-story-header"><h2>UK companies pay more tax than Europeans</h2><p>By John Willman in London</p><p>Published: June 8 2008 23:34 | Last updated: June 8 2008 23:34</p></div><div class="ft-story-body"><script language="javascript" type="text/javascript"> function floatContent(){var paraNum = "3" paraNum = paraNum - 1;var tb = document.getElementById('floating-con');var nl = document.getElementById('floating-target');if(tb.getElementsByTagName("div").length> 0){if (nl.getElementsByTagName("p").length>= paraNum){nl.insertBefore(tb,nl.getElementsByTagName("p")[paraNum]);}else {if (nl.getElementsByTagName("p").length == 3){nl.insertBefore(tb,nl.getElementsByTagName("p")[2]);}else {nl.insertBefore(tb,nl.getElementsByTagName("p")[0]);}}}}</script><div class="clearfix" id="floating-target"><p>Large British companies pay more in corporate taxes on the wealth they create than their competitors in Germany, France and Switzerland, a UK government study has found.</p><p>The annual value-added scoreboard, published Monday, shows the 185 top wealth-creating companies in the UK handed over 12 per cent of the added value they created in taxation last year.</p></div></div></div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Mon, 09 Jun 2008 07:57:42 -0000 http://financialadvice.co.uk/news/12/ukeconomy/6875/OECD-Slash-Forecasts-For-UK-Economy.html <p></p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content">The renowned Organisation for Economic Co-operation and Development (OECD) has attacked the UK government for an ‘excessively loose’ fiscal policy over the last 10 years and slashed forecast for the UK economy.</div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Fri, 06 Jun 2008 09:29:21 -0000 http://thescotsman.scotsman.com/latestnews/Holyrood-and-Westminster-at-war.4135513.jp <p></p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content">Holyrood and Westminster at war over oil and taxes</div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Fri, 30 May 2008 08:59:45 -0000 http://www.ft.com/cms/s/0/aca66b16-2c2f-11dd-9861-000077b07658.html <p></p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content">Ministers indicate U-turn on road taxes</div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Wed, 28 May 2008 08:10:39 -0000 http://www.independent.co.uk/news/uk/politics/dont-be-yellow-gordon-be-green-835185.html <p></p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content">Environmentalists urge the Prime Minister to stand firm on fuel taxes despite protests of lorry drivers</div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Wed, 28 May 2008 08:08:47 -0000 http://www.ft.com/cms/s/0/785fbdf0-16e3-11dd-bbfc-0000779fd2ac.html <p></p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content">When public finances are under pressure, increasing business taxes can seem like costless revenue-raising. After all, companies cannot vote. But now some British groups are voting with their feet, deciding to relocate headquarters to lower-tax regimes. The Treasury’s review of corporate tax is therefore a welcome move.</div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Wed, 30 Apr 2008 21:55:57 -0000 http://www.tax-news.com/asp/story/IFS_Papers_Examine_Impact_Of_Taxes_On_Corporate_HQ_Location_xxxx30731.html <p></p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content">IFS Papers Examine Impact Of Taxes On Corporate HQ Location</div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Thu, 24 Apr 2008 18:21:44 -0000 http://news.bbc.co.uk/1/hi/business/7329006.stm <p>The new tax year, which starts on 6 April, brings in an unusually large number of changes to both personal and business taxes.<br /><br />Many of the changes were first announced in 2007, in either that year's budget or in the later pre-budget report.</p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Sun, 06 Apr 2008 12:56:35 -0000 http://news.bbc.co.uk/1/hi/uk_politics/7332917.stm <p>UK Tax - scrapping of lowest rate makes it less progressive. Have the worst-off benefited under labour?</p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content"><p class="first"><b>Business Secretary John Hutton has ruled out a rethink on the decision to scrap the lowest tax band, amid claims Labour has abandoned low-paid workers.</b> </p><p> He said he did not think it possible to go back on a decision to scrap the 10p rate, despite Labour MPs' unhappiness.</p></div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Sun, 06 Apr 2008 12:55:47 -0000 http://www.theherald.co.uk/politics/news/display.var.2108718.0.Why_business_opposes_local_taxation.php <p>Bad arguments against fiscal devolution ...</p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content"><p>"The Federation believes that the introduction of any kind of service tax or local income tax in Scotland would be problem-atic and result in additional costs for employers who would be expected to provide local authorities with information on staff salaries."</p> <p>That argument still applies, said a spokesman, who pointed out the particular concern businesses had where employees could travel in to work from difference council areas all levying different LIT rates. "That bureaucracy would be time consuming and costly, so our members would prefer a flat rate across Scotland," he said.</p> <p>Iain McMillan of CBI Scotland said they had several concerns, including the whole perception of Scotland as a place with higher income tax, the fact that the 3p would apply not just to the basic rate but up through the bands, and the impact on organisations whose payrolls were on both sides of the border.</p></div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Tue, 25 Mar 2008 11:28:56 -0000 http://www.tax-news.com/asp/story/Private_Equity_Boss_Fires_Tax_Salvo_Across_UK_Governments_Bows_xxxx30368.html <p></p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content"><p><font face="Arial" size="2" color="#000033"><p> in a report published by the UK's Times newspaper, a Terra Firma spokesman was quoted as stating that "there is absolutely no plan to move our main operations".</p> <p>“This is about reviewing the expansion of our overseas operations in response to the tax changes," the spokesman told the Times.</p> <p>Since 1994, Terra Firma has invested approximately EUR11bn, mainly in Europe. The company has offices in London, Frankfurt and Guernsey, owns eight companies and claims to have paid GBP15.2mn in corporation tax last year.</p> </font></p> <p><font face="Arial" size="2" color="#000033"><font color="#009900"></font></font></p></div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/capital-gains' rel='tag'>capital-gains</a> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> <a href='http://www.diigo.com/user/tonycurzonprice/non-dom' rel='tag'>non-dom</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Sat, 22 Mar 2008 11:24:03 -0000 http://www.businessweekly.co.uk/2008031831609/accountancy-and-advisers/no-gold-star-for-chancellor%E2%80%99s-first-budget.html <p>The Chancellor took the opportunity to spend a great deal of time talking about the UK’s tax competitiveness but unfortunately, he failed to follow this up with any real action. Despite his comment that the UK has ‘the most competitive corporation tax regime in the G7’ and ‘a stable tax regime’, the fact is that since 2000, the UK’s corporate tax rate has fallen from the fourth most competitive in 2000 to around 20th in the enlarged EU - and has dropped from the eighth most competitive to 20th among OECD countries.</p><p><strong>Highlights and Sticky Notes:</strong><p><div class="content">The Chancellor took the opportunity to spend a great deal of time talking about the UK’s tax competitiveness but unfortunately, he failed to follow this up with any real action. Despite his comment that the UK has ‘the most competitive corporation tax regime in the G7’ and ‘a stable tax regime’, the fact is that since 2000, the UK’s corporate tax rate has fallen from the fourth most competitive in 2000 to around 20th in the enlarged EU - and has dropped from the eighth most competitive to 20th among OECD countries.</div></p><p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> <a href='http://www.diigo.com/user/tonycurzonprice/tax-competition' rel='tag'>tax-competition</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Wed, 19 Mar 2008 11:28:28 -0000 http://www.ft.com/cms/s/0/f574ce00-f52a-11dc-a21b-000077b07658.html <p>Guy Hands will on Wednesday warn he is reviewing whether to move at least part of Terra Firma, his UK-based buy-out firm, overseas in protest at the recent tax increases on capital gains and non-domiciled residents.<br /><br />“We are concerned by the recent changes to the UK tax laws,” says Mr Hands, the first buy-out boss to warn he may flee the country since the government started fiscally targeting rich private equity executives last year.</p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> <a href='http://www.diigo.com/user/tonycurzonprice/tax-competition' rel='tag'>tax-competition</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Wed, 19 Mar 2008 06:56:59 -0000 http://www.ft.com/cms/s/0/0d1d0e48-e971-11dc-8365-0000779fd2ac.html <p>In his first interview in his role as chairman of the prime minister’s advisory business council, a week ahead of Alistair Darling’s first Budget, Mervyn Davies, the chairman of Standard Chartered, sounded the alarm about the long-term effect of the Treasury’s contentious changes to capital gains tax and the tax regime for wealthy non-domiciled foreigners.</p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> <a href='http://www.diigo.com/user/tonycurzonprice/tax-competition' rel='tag'>tax-competition</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Tue, 04 Mar 2008 07:55:12 -0000 http://www.taxresearch.org.uk/Blog <p>Richard Murphy on tax and corporate accountability</p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/accountability' rel='tag'>accountability</a> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> <a href='http://www.diigo.com/user/tonycurzonprice/tax' rel='tag'>tax</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Sat, 23 Feb 2008 15:59:58 -0000 http://blogs.ft.com/maverecon/2008/02/there-has-been.html <p>The main indirect effect of the proposed increase in taxes on the non-doms (if they were to leave and not spend as occasional or even regular visitors as much as they now spend as residents) is through their consumption of non-traded goods and services, including charitable giving – a form of conspicuous consumption unless it is double-blind. The demand for magnums of 1961 Petrus (at £18,000 a bottle) would suffer. So would a few luxury shops, restaurants and studs. Upper bracket property prices in London and the home counties would fall. With a bit of luck, the fall in property prices would spread more widely.</p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> <a href='http://www.diigo.com/user/tonycurzonprice/non-dom' rel='tag'>non-dom</a> <a href='http://www.diigo.com/user/tonycurzonprice/tax-competition' rel='tag'>tax-competition</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Thu, 14 Feb 2008 15:50:44 -0000 http://lloydslist.com/ll/news/viewArticle.htm?articleId=20017504916 <p>“Non-doms”, as they are known, currently pay UK income tax on British earnings, but not on money earned outside the country. Mr Darling remains firm in his desire to see a £30,000 annual levy charged for those wishing to retain non-dom standing after a seven-year grace period.<br /><br />Many likely to be affected enjoy sufficient wealth for such a charge not to be an insuperable issue, given the business and lifestyle advantages of life in London. But there are strong concerns at accompanying increased requirements for detailed information about their offshore holdings.<br /><br />In a letter to leading lawyers and tax specialists yesterday, the government accepted that the details of the idea have been poorly drafted, and stressed that it no intention of increasing the levy or of insisting on “any additional disclosures” regarding income or gains outside UK jurisdiction. Nor will there be any tax on money brought into Britain to pay the £30,000 charge. </p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> <a href='http://www.diigo.com/user/tonycurzonprice/tax-competition' rel='tag'>tax-competition</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Thu, 14 Feb 2008 11:08:19 -0000 http://www.ft.com/cms/s/0/d50af192-a441-11dc-a28d-0000779fd2ac.html <p>Wealthy foreigners set to quit UK over tax<br /><br />By Vanessa Houlder<br /><br />Published: December 6 2007 21:33 | Last updated: December 6 2007 21:33<br /><br />Some 3,000 wealthy foreigners will leave Britain as a result of the planned clampdown on their beneficial tax regime, the UK Treasury has admitted.<br /><br />Under plans announced in October, foreign citizens based in the UK who are exempt from tax on their offshore income, the so-called “non doms”, will face an annual charge of £30,000 (€41,600) once they have lived in Britain for at least seven years. The Treasury also intends to close the loophole under which they can escape capital gains tax.</p><p><strong>Tags:</strong> <a href='http://www.diigo.com/user/tonycurzonprice/iref' rel='tag'>iref</a> <a href='http://www.diigo.com/user/tonycurzonprice/taxation' rel='tag'>taxation</a> <a href='http://www.diigo.com/user/tonycurzonprice/uk' rel='tag'>uk</a> </p><p><strong>Posted by:</strong> <a href='http://www.diigo.com/user/tonycurzonprice'>tonycurzonprice</a></p> Fri, 07 Dec 2007 15:17:06 -0000 60