In the last few days reports have emerged of individuals being denied indefinite leave to remain in the UK because of tax problem; but is the Home Office best-placed to analyse the tax position and make a crucial decision surrounding immigration status?
The Resolution Foundation has published the final report of the Intergenerational Commission “A New Generational Contract”. Recognising that most families are already doing whatever they can to care for their older people while supporting the younger ones, the report states categorically that “so far the state has failed to adapt”. Sadly, those families which have done most to adapt are the ones which are most likely to suffer under the new proposals.
Since April 2015, those who have reached retirement age have had more flexibility in how they use their pension pots, deciding when and how to use them rather than having to purchase an annuity. This led the then pensions minister to suggest that pensioners could now blow their money on supercars. So what do the latest numbers tell us about the trends to date?
On the 20th March, the RSM consumer markets team descended on the Northern Restaurant and Bar exhibition to experience all things in the Northern hospitality sector. This included meeting the 275 exhibiting suppliers, watching some of the 65 live demonstrations and listening to the various insight presentations and debates.
European Commission proposals to introduce an interim turnover tax on the digital multinationals were announced to great fanfare just weeks ago. However, the plans may have already hit the buffers amid fears of US reprisals.
The world of motor retail is changing rapidly but the conversations on electric vehicles, declining registrations, GDPR, online retailers and the FCA’s interest in PCP have been well documented. If motor retailers wish to be something more than simple order takers fulfilling a knock down deal brokered by an algorithm, they need to start appealing to modern customers.
During the financial crisis, it is arguable that British manufacturing became fashionable again. As banks were bailed out and the financial services sector endured a torrid time, there seemed to be a reassessment of the part that manufacturing played in the economy. But what about now?
The introduction of minimum pricing for alcohol this week is the latest step from the Scottish government to influence change and improve the health and well-being north of the border. Following the introduction of the ‘sugar tax’ in April across the whole of the UK, the minimum pricing for alcohol measures aims to end Scotland’s ‘unhealthy relationship with alcohol’. However, the move will mainly target ‘cheap’, ‘strong’ alcohol products. So, as of 1 May a bottle of strong cider which did cost £2.50 will now cost £7.50, as 50p is charged for every unit of alcohol.
Following a robust session at the Public Accounts Committee, HMRC has revealed that Brexit will postpone key elements of its digital transformation programme. Looking at the detail it’s clear that some of the digital progress made to date hasn’t delivered the promised rise in tax receipts.
The Office of Tax Simplification has now published its call for evidence in its review of inheritance tax. Simpler administrative arrangements are likely to be accompanied by a drastic restriction to business property relief. We hope that this once-in-a-lifetime review will restore a clear policy direction to IHT and will ensure that it operates in a fair, clear and certain manner. This is too good an opportunity to be missed