UK could pull out of international corporation tax deal under Truss Conservative leadership frontrunner Liz Truss could pull the UK out of a deal to set global corporation tax rates at 15%, with two of her most prominent supporters criticising the international agreement. Brexit Opportunities Minister Jacob Rees-Mogg believes the UK should withdraw from the international agreement because it “works against British interests.” He argues that […] By Lisa Brownlow, 17 August 2022
Read Now
HMRC expresses concern over Premier League footballers’ contracts New analysis from Pinsent Masons shows HMRC believes a “significant number” of Premier League football clubs and players are underpaying tax. Nearly two-thirds (64%) of Premier League footballers’ contracts now take a form which HMRC says is open to abuse, the law firm says. “HMRC believes a significant number of Premier League football clubs and […] By Lisa Brownlow, 15 August 2022
Read Now
Truss’s tax and spend plans could cost £50bn a year Liz Truss claims her promised tax cuts and defence spending would cost £30bn but economists say the bill could go as high as £50bn. The foreign secretary has pledged to cancel the national insurance rise and scrap a planned increase in corporation tax, along with removing green levies and increasing the married tax allowance. The […] By Lisa Brownlow, 10 August 2022
Read Now
Rees-Mogg: Sunak’s tax plan a ‘fantasy’ Senior minister Jacob Rees-Mogg has criticised Conservative leadership candidate Rishi Sunak’s plans to cut the basic rate of income tax from 20p to 16p before the end of the next parliament. He told Sky News said: “If you’re going to talk about fairy-tale economics, I think suggesting there will be income tax cuts many, many […] By Lisa Brownlow, 9 August 2022
Read Now
Number of UK non-doms down by 11% The number of super-rich people who live in the UK but pay no tax on their offshore income has fallen by 11%, according to HMRC data. UK-based people holding nondomicile tax status in the 2020/21 financial year totalled 68,300, a fall of 8,200 on the previous year. HMRC pointed to travel restrictions caused by lockdowns […] By Lisa Brownlow, 4 August 2022
Read Now
Sunak promises to cut basic rate of tax to 16% Former Chancellor Rishi Sunak has promised the biggest income tax cut in 30 years, saying he will reduce the basic rate from 20% to 16% by the end of the next parliament if he becomes Prime Minister. The proposed move, funded from additional tax receipts generated by forecast economic growth, builds on his previously-announced 1p […] By Lisa Brownlow, 3 August 2022
Read Now

See How Acer Accounts can
support your business

Phone us on Tel. 0117 287 2438 to see how we can help set up your business with accounting software and provide a range of accountancy services

Book a call Get a quote
↑