After weeks of speculation Hitachi has announced it is walking away from its £16bn Horizon project, being unable to find an economic rationale to continue. Work on Olbury-on-Severn in Gloucestershire will also cease.
Campaigners who were lobbying for the loan charge to be overturned secured a modest victory this week when MPs voted through a late amendment to the Finance Bill. This will require HMRC to report on the loan charge by 30 March 2019 – just before it is due to come into effect. ¬So what will this mean in practice?
HMRC has this week opened a new disclosure facility for multinationals that it believes may be under-declaring corporation tax or Diverted Profit Tax (DPT) liabilities. Affected companies should take note - this looks less like a fishing trip and more like a targeted intervention.
The 31 January 2019 deadline for submitting 2017/18 tax returns to HMRC is just around the corner. If you completed your self-assessment tax return in January last year, chances are you are doing it again this January. But this isn't a Groundhog Day moment. There have been important changes and you need to be aware of them.
It could be a new year of cheer for HMRC as they look forward to bumper tax receipts from Bitcoin investors this January; but what do Bitcoin entrepreneurs need to consider to figure out their forthcoming tax liabilities?
Mike Thornton, head of manufacturing at RSM, looks ahead to what 2019 has in store for the sector.
If HMRC could accelerate tax refunds by an average of two weeks, that would put an extra £1 billion into the UK economy. It would also help the government regain the high moral ground over businesses which cause hardship to their suppliers through slow payments.
At school Sarah gravitated towards the numerical / scientific subjects but also loved learning about businesses. Corporate finance brought those two interests together and added excitement in to the mix. Every day is different and she loves that.
Minor technical clauses buried away at the back of Finance Bill tend not to create much excitement – even among tax nerds. But suddenly one clause in the current Finance Bill, which is due to be debated tomorrow, has the potential to create real problems for the government on Brexit; but why is this?