Budget 2013: Corporation tax slashed to 20% and ALL firms to get 2,000 National Insurance cut to boost business and encourage small companies to hire staff Chancellor has already slashed the headline tax rate from 28% to 24%Due to fall to 23% next month, 21% in April 2014 and now 20% in 2015But some bosses believe it should be cut lower than the 12.5% in Ireland Employers' NI contributions will be reduced by 2,000 for every company /13″ class=”blkBorder” /> Going down: This graph from figures on the Institute for Fiscal Studies website shows how the standard rate of corporation tax has dropped from 34 per cent in 1990/91 to 24 per cent in 2012/13 Announcing the cut to 21 per cent in the Autumn Statement last December, Mr Osborne said it was ‘the lowest rate of any major western economy’. He added: ‘It is an advert for our country that says come here, invest here, create jobs here. Britain is open for business.’ Tax experts said a further cut could be on the way in the Budget
Middle class tax crackdown as prosecutors vow to take FIVE times more evaders to court Chief prosecutor Keir Starmer is aiming for a fivefold increase in tax evasion cases that go to court He will warn tax evasion is not a 'victimless crime' and costs every family 769-a-yearHM Revenue and Customs steps up investigations into global firmsLabour warns against taking eye of global firms costing Treasury billions By Becky Barrow PUBLISHED: 12:25 GMT, 21 January 2013 | UPDATED: 01:42 GMT, 22 January 2013 Middle earners who dodge tax will be targeted in a major crackdown by the Crown Prosecution Service. In a hard-hitting speech tonight, the Director of Public Prosecutions will condemn those who fail to pay their dues – from lawyers to plumbers.
BBC 'must release emails that helped stars avoid tax': MPs put pressure on corporation Corporation refuses request from MPs to see correspondence between BBC tax advisers and staffDecision not to publish is further damaging trust in BBC, politicians sayEmails are linked to stars paid via service companies, a set-up that could allow them to avoid tax and national insurance BBC Trust says auditors have looked at emails and found nothing suspicious By Paul Revoir PUBLISHED: 11:20 GMT, 2 January 2013 | UPDATED: 00:58 GMT, 3 January 2013 Under fire: BBC Trust finance chief Anthony Fry has rejected a request to hand the emails to MPs and has not read them himself The BBC is facing pressure from MPs to publish emails that could show the broadcaster gave the opportunity to two of its performers to avoid tax.
We have cheap alcohol, concrete beach resorts and experienced prostitutes': Bulgaria’s bizarre ‘advert’ to tax exile Gerard Depardieu Letter sent to French stars from Bulgarian policy centreClaims payment of taxes is 'optional' and there is 'possibility to drain as much as you wish from the tax system'Depardieu and Bernard Arnault are the latest in a flood of super-rich French fleeing President Francois Hollande's socialist tax rises | UPDATED: 18:36 GMT, 27 December 2012 Bulgaria has invited French tax exiles Gerard Depardieu and Bernard Arnault to become Bulgarian citizens with the promise of 'cheap alcohol, concrete beach resorts and experienced prostitutes'. The cheeky letter from Bulgaria's Demographic Policy Centre was sent to the famous film star and France's richest man as a protest against the mass emigration from the cash-strapped eastern European state. Depardieu, 64, and Arnault, 63, both recently announced they were fleeing to Belgium to dodge France's new massive tax hike on the rich of 75 per cent on all earnings over one million euros
Big business makes more money but pays less tax as small firms are hit harderCorporation tax payments by UK's largest firms have fallen by more than a fifth since 2000A report warned cash payments could cost families over 200 each yearInvestigation found profits of big businesses have risen by 65% to 329bn | UPDATED: 00:07 GMT, 28 December 2012 Strong criticism: Lord Oakeshott slammed the 'culture of collusion' between large companies and HMRC The full extent of tax avoidance by big business was laid bare yesterday on a ‘black day’ for taxpayers. Despite soaring profits, corporation tax payments by the UK’s largest firms have fallen by more than a fifth since 2000
Facebook accused of 'dodging tax' by using loophole to channel cash through Cayman Islands havenIt used Irish office to avoid UK tax liability on earnings from British businessLess than 240,000 was paid to the UK taxman Money was routed from Ireland into Cayman Islands subsidiary | UPDATED: 16:49 GMT, 23 December 2012 Facebook channelled profits through a series of tax havens in order to pay just 2.9m of corporation tax on more than 800m of overseas profits in 2011, it has been reported. Like Google and Apple the social networking site is said to have used its headquarters in Ireland to avoid tax liabilities in the UK before directing earnings to a subsidiary in the Cayman Islands. British companies that buy advertising on Facebook must do so via Facebook Ireland Ltd which entitles the company to sidestep HM Revenue and Customs and authorities in other higher-tax jurisdictions, reported the Sunday Times today.
Taxpayer risks losing 1billion under Osborne plan to bribe workers into giving up their rights Employees urged to sacrifice rights in return for shares in their firmChancellor offered tax break on profits to encourage take upOffice for Budget Responsibility says it could cost 1billion by 2017-18Institute for Fiscal Studies condemns 'lollipop' at a time when ministers condemning other tax avoidance | UPDATED: 16:07 GMT, 11 December 2012 Giving workers shares in their companies in return for losing some employee rights could cost 1billion, it emerged today.
How Britain's high sales tax 'holds back economic recovery'British shoppers face one of the highest levels of sales tax in the worldAverage sales tax is 15.97%, higher than European average of 15.5%Among Western nations, only Netherlands had higher sales tax at 18.18% | UPDATED: 01:00 GMT, 11 December 2012 Shoppers in Britain face one of the highest levels of sales tax and duty in the world, a study has revealed.
Chancellor announces 77million fighting fund to crack down on companies that pay little or no taxGeorge Osborne claims move will raise another 2bn a year to cut deficit He told MPs he wants 'a tax system where the richest pay their fair share'Comes after multinational firms were accused of 'immoral' tax avoidanceMain rate of corporation tax to be cut by a further 1% to 21% for April 2014 | UPDATED: 18:11 GMT, 5 December 2012 The Chancellor pledged a crackdown on firms who get out of paying their fair share in corporation tax. George Osborne acted following growing fury over multinational companies like Google, Amazon and Starbucks who paid nothing or very little despite huge sales
Osborne bashes benefits: Increases capped at just ONE PER CENT for three years after full toll of 'worst economic shock since WW2' is revealed Chancellor uses Autumn Statement to say working age benefits will no longer sie in line with inflation, with 60% of families affected Austerity to last until 2018 with economy forecast to SHRINK this year 2008 economic crash was worse the worst since World War TwoFuel duty rise of 3p planned for 2013 abandonedWealthy see tax break on pensions cut to raise 1billionPerformance-related pay for teachers as 1billion is found for new schoolsTaxman to hit corporations which avoid paying their way50p tax rate meant half of millionaires 'disappeared'But 1million more people are dragged into 40p tax rate in two years Lucrative incentives for fracking industry to come to Britain5billion building bonanza including HS2 extended beyond Birmingham Workers on minimum wage have tax bill 'cut in half' by rise in tax allowance | UPDATED: 18:52 GMT, 5 December 2012 ‘ George Osborne today squeezed the welfare bill, insisting benefits could no longer rise faster that average wages. In a politically-charged Autumn Statement designed to target 'strivers', the Chancellor announced all benefits will rise by just 1 per cent for the next three years, which will mean a real terms cut.