Finance Bill 2016 passes through parliament

The Finance Bill 2016 passed through parliament in December 2015. This bill puts into law many of the measures announced by the Chancellor in his Budget and Autumn Statement speeches. Important areas which were clarified: the annual investment allowance is £200,000 from 1 January 2016 tougher rules tackling offshore tax evasion will be introduced large[…]

Consumer confidence rises despite uncertainty over economy

People feel more confident about their personal finances but still have concerns about the state of the economy. According to GFK’s consumer confidence index, most people report a rise in confidence in the past year with forecasts predicting further growth in the next 12 months. However, expectations for the economy have decreased over the last[…]

Higher stamp duty rates for buy-to-let property

Stamp duty land tax (SDLT) on additional properties such as buy-to-let investments and second homes will be 3 percentage points higher than current SDLT from April 2016. Corporate properties and properties in Scotland (which are subject to land and building transaction tax) are not affected by the new rules. The new rates will not apply[…]

Stress-related absences increase

Stress-related absences from work are increasing, a survey by the CIPD has found.  Of the 600 employers surveyed, 41% reported an increase in stress-related absence. This figure rises to 51% in the public sector. The most common causes of stress in the workplace are: high or difficult workload management style relationships with colleagues non-work and[…]

UK R&D spending lowest in the G8

The government spends around 0.49% of GDP on funding research and development (R&D), prompting business groups to call for an increase to help increase growth. The Confederation of British Industry (CBI) is calling on the government to increase total R&D spending to 3% of GDP as research shows that the current level of spending is[…]

Government publishes productivity strategy

A plan to improve the productivity of UK businesses has been published by the Treasury. The policy document identifies 2 key areas to stimulating productivity in the UK: long-term investment and a dynamic economy. Among the measures included in the strategy are: the government aims to increase business investment by lowering personal and business taxes,[…]