The Bank of England has cut its growth forecast to close to zero from about 0.8% predicted in May. And this leads to the intensification of the as the double-dip recession. The quarterly inflation report of the Bank of England has indicated no growth for 2012, compared with 2% predicted a year ago.
The latest case of concern with respect to corporation tax avoidance is the online retailer Amazon. This accusation is mainly based on the fact that since 2006, its UK business has been a subsidiary of its European headquarters in Luxembourg. As a result, anyone buying anything from Amazon in the UK makes a payment to […]
Yesterday’s budget delivered by George Osborne’s budget will best be judged by how the economy performs in the coming quarters. Faced with a daunting fiscal challenge, the UK Chancellor has turned his attention to the factors that will shape the growth of the economy in the future. His main emphasis for growth is through retaining […]
Personal allowances It is the general belief that the personal allowance will be raised again, perhaps by a further £1,000 to £8,475 for 2012/13. The premise behind this is the election pledge that no one will pay income tax until they earn £10,000. Hence it can be reasonably predicted a raise in the personal allowance […]