He reckons that many other landlords will ‘incorporate’ their portfolios to mitigate the impact of the additional CGT. He says CGT is a huge issue for landlords, particularly those who want to sell out because of the earlier tax rises introduced by George Osborne in 2015. If they keep their properties, the tax rises may make running them unprofitable, but if they sell they will be hit by a big CGT bill. … [Read more...] about From single parents to landlords: how will the budget affect people?
Chapter 8 budgets and financial records
That is why Mr Hammond claimed “austerity is coming to an end” during his budget speech and has chosen to spend government money on politically sensitive parts of the welfare state. More money for the National Health Service, for schools and social security is to be welcomed. Properly taxing global tech companies who have got away with paying negligible amounts of tax despite profiting from advertising in this country is a good thing. In some ways, as several have pointed out, this felt like a pre-election budget, with tax cuts and fuel duty freezes warming the hearts of traditional Tories, while turning on the spending taps defuses Labour’s attack. In doing so Mr Hammond has spent his better than expected tax receipts to present a crowd-pleasing budget. And he still has the room to borrow further. This hedging is understandable given the fractious politics of the Conservative party. The chancellor knows that the Tory party remains deeply divided over the prime … [Read more...] about The Guardian view on the 2018 budget: austerity is not over
Over the next five years, the Treasury believes that at least 2,000 jobs a week are to go from the public sector and up to 2,800 a week from the private sector as a direct result of the planned spending cuts. So much for the idea that the coalition government is taking a surgical knife to a bloated state, creating the space for an unshackled private sector to take up the slack. The private sector will face a double whammy: work from the public sector will dry up, while the loss of so many public jobs will have a ripple effect through the private sector. Those parts of the country heavily dependent on the public sector, anywhere north of a line from the Wash to the Severn estuary, the impact threatens to be dire. … [Read more...] about Slashing the budget deficit will have a dire effect on the north
David Freeman, the head of labour markets and households at the statistics agency, said: 'The employment rate is at a new record high, with over two-thirds of the growth in people in work in the last year coming from women working full-time. … [Read more...] about UK employment rate hits record HIGH in boost to Boris Johnson ahead of Brexit as the number of women in work and those becoming self-employed surges
But aggressive marketing and sales by local brands in China and India, two of the largest and fastest growing smartphone markets, have pushed Samsung out of its top position there. Meanwhile in the US, another key market, Apple’s introduction of the larger-screened iPhone 6 and 6 Plus in mid-September may have lured some would-be Galaxy buyers away. High marketing costs have also eaten into profits. Quarterly profit from Samsung’s mobile business, which reached 6.7tn won a year earlier, is forecast to be a little over 2tn won. … [Read more...] about iPhone 6 and budget rivals hit Samsung profits