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18 March 2015

Encouraging further investment in the North Sea

Against a backdrop of maturing oil fields, high production costs, an extremely complex tax regime and low oil prices, the eyes of the oil and gas sector were firmly on the Chancellor to stimulate investment and halt decline.

Investment package a significant boost to the oil and gas industry

By: Alan McCrae Against a backdrop of maturing oil fields, high production costs, an extremely complex tax regime and low oil prices, the eyes of the oil and gas sector were firmly on the Chancellor to stimulate investment and halt decline. George Osborne has responded to the gauntlet thrown down...

Join our live webcast on Diverted Profits Tax - 9 April at 15:00

The UKs Diverted Profits Tax will take effect from 1 April 2015. This is a new tax levied at 25% and if you have sales to UK customers from foreign companies OR UK companies make payments to low tax entities then this new legislation could apply to you. To date...

Increases in National Minimum Wage welcomed

By: John Harding, partner The Government's acceptance of the Low Pay Commission's recommendations to increase the adult rate of the National Minimum Wage to £6.70 from October 2015 is to be welcomed, together with the increase in the Personal Allowance to £10,600 from April. Both of these changes will help...

A Budget for thrifty middle England

By: Iain McCluskey This was a Budget for thrifty middle England – supporting those who are fixing their roofs, saving for homes and getting on in work. For the lowest paid, and many part time workers, the sun still isn’t shining given the personal allowance increase won’t have any impact...

Chancellor ends austerity a year early, with majority of households gaining from Budget

By: John Hawksworth, chief economist The biggest change in the Budget is the Chancellor’s decision to end austerity a year earlier than planned in his Autumn Statement. The projected budget surplus levels out at £7 billion in 2019/20, which is still a healthy outcome but well below the £23 billion...

Cart and horse dilemma on business rates growth

By: Simon Tivey The widening of the business rates retention scheme in specific areas such as Manchester and Cambridge is targeted at helping local authorities support economic growth. The reward for councils and council tax payers in these areas is to keep all the extra business rates that stem from...

New initiatives to help address the housing shortage in the capital and beyond

By: Robert Walker The Chancellor's announcements of new Help to Buy ISAs and housing investment show he wasn't joking about 'fixing the roof' as the sun starts to shine. More detail is needed behind the creation of the 20 new housing zones and investment to tackle the housing shortage in...

Patent Box - OECD hears from business

By: Angela Browning At an informal consultation meeting on 10 March, the OECD heard from businesses regarding the practical application of the Modified Nexus Approach to Intellectual property (IP) and patent boxes. Joined by delegates from member states and the Business and Industry Advisory Committee (BIAC), the OECD welcomed the...

16 March 2015

Budget 2015 – what we could expect

By Stella Amiss With his last Budget before May’s General Election, George Osborne will be looking to strike a balance between championing the government’s commitment to fiscal responsibility, whilst trying to create a more general ‘feel good’ factor by putting something extra in people’s pockets. The Budget presents a crucial...