Businesses in the UK are forking out up to £10bn in hidden costs a year and the country’s 2.25 million small and medium-sized enterprises (SMEs) are bearing the brunt of the tax burden, with each one paying up to £4,376 in tax compliance costs.
The tech scene in London recently saw its best-ever quarter, with a record-breaking $682m (£466.7m) funding raised in the first three months of the year, with one company alone bringing in $100m in February.
Ed Miliband has announced that the non-domicile tax rule, which was first introduced by William Pitt the Younger in the late 18th century, would be abolished under a Labour Government.
More than 100 business leaders have written an open letter to the Daily Telegraph declaring support for a Conservative-led Government, saying that the move to lower corporation tax to 20 per cent, which comes into effect this month, will boost the economy.
One in 11 people of working age in the UK is running or starting a business, with the number of active firms in the UK hitting a record high of over 3 million in December last year, up 3.7 per cent from June.
The Department for Education has published its response to the education committee’s report on academies and free schools.
Figures out today (March 24) show that UK inflation, as measured by the Consumer Prices Index (CPI), has fallen to zero for the first time since current records began in 1989, amid tumbling food and oil prices, moving the country even closer to deflation.
Business leaders had hoped that Chancellor George Osborne would use his Budget last week to create a new minister for entrepreneurship in a bid to spark a “golden age” for business start-ups but no such announcement was forthcoming.
As the day of the last Budget of this administration dawns, speculation is rife that there will be cuts in taxes for businesses, including a further decrease in the rate of corporation tax and a “radical” review of business rates.
The National Minimum Wage is set to rise by 20p an hour in October, taking it to £6.70, which is only a 3 per cent increase but the largest real-terms rise since 2008, according to Prime Minister David Cameron.