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While today’s decision by the Bank of England MPC was literally a no brainer it does not help the thousands of home owners who are struggling to make ends meet. As we read another report from the...
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Saturday 17th May 2008
In a move designed to stop the expected exodus of multinational companies from UK shores, the UK government is to announce a raft of changes to recent tax laws. Despite indicating that they were looking to widen the tax net for companies based in the UK, and claw back more tax from their offshore investments, the Treasury appear to have had a major rethink.
This week will mark the start of a campaign to reduce the potential exodus and convince companies that the treasury are not trying to increase the tax they already pay. The row over the proposed changes centres on issues such as brand names and intellectual property which are held offshore, and potential paths to increase tax on the income they produce.
At the moment it seems that every change in taxation which the government introduce they are forced to back track some weeks later and explain exactly what they mean. More and more companies are growing tired of the UK taxation system with many looking to move abroad. This would be a nightmare for the UK government as they are already under pressure from a weakening economy and a number of potentially expensive 'fixes' they have tried to introduce. |
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