Category: budget
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UK business confidence hits twelve-month low as Autumn Budget looms
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Business confidence in the UK has fallen sharply, recording its first decline in a year, as concerns grow over Chancellor Rachel Reeves’ upcoming autumn budget. The latest economic data, along with insights from the upcoming SME Barometer brought to you by Prism, highlight growing concerns among businesses, with many fearing…
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Record number of UK businesses at risk of collapse ahead of critical autumn budget
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A record number of UK businesses are facing major financial distress, highlighting the parlous state of the economy as Chancellor Rachel Reeves prepares to unveil her first Budget on October 30. A report by insolvency specialists Bigbys Traynor revealed that 632,756 businesses were at high risk of failing in the…
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Record number of UK businesses at risk of collapse ahead of critical autumn budget
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A record number of UK businesses are facing major financial distress, highlighting the parlous state of the economy as Chancellor Rachel Reeves prepares to unveil her first Budget on October 30. A report by insolvency specialists Bigbys Traynor revealed that 632,756 businesses were at high risk of failing in the…
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Capital Gains Tax concerns loom over UK tech sector ahead of Autumn Budget
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The UK tech industry is on edge as speculation grows about potential changes to capital gains tax (CGT) in the upcoming Autumn Budget. Leading audit and advisory firm Blick Rothenberg has expressed concerns that such changes could have a detrimental impact on the fintech ecosystem, a key driver of the…
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Investors rush to withdraw pension funds amid fears of tax hikes in upcoming budget
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Investors are withdrawing money from their pension funds in increasing numbers, fearing potential tax increases in the next budget. AJ Bell, one of the UK’s largest manual wealth managers, has reported a spike in pension withdrawals, as clients move to secure tax-free lump sums ahead of potential changes by the…
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Majority of Britons back increased tax on online gambling as calls for reform grow ahead of Autumn Budget
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New polls suggest that more than half of Britons (52%) support increasing taxes on online gambling, with many prioritizing a rise in gambling fees over other taxes such as income tax, VAT and fuel excise. It comes as the Social Market Foundation (SMF) releases a report calling for a significant…
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Treasury targets civil service budget pensions, immigrants
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The list of measures planned by the Israeli Ministry of Finance as part of the 2025 budget goes on. In the latest draft of the planned measures published by the Ministry of Finance, it added a new imposition on employees who are supposed to receive the civil service budget pension,…
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Smotrich seeks to loosen Budget Division’s grip on gov’t
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At the beginning of this week, and against the backdrop of setting the date for approval of the 2025 budget by the government, Finance Minister Bezalel Smotrich sent a letter to the head of the Budgets Division in his ministry, Yogev Grados, in which he stated that he outlines his…
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Business owners speed up plans to sell amid fears of tax rises in upcoming budget
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Growing concerns about tax rises have prompted nearly 30% of UK business owners to accelerate plans to sell their companies, according to new analysis by wealth management firm Evelyn Partners. The survey, of 500 business owners with revenues of at least £5m, found that 29% of respondents had accelerated their…
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Business owners speed up plans to sell amid fears of tax rises in upcoming budget
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Growing concerns about tax rises have prompted nearly 30% of UK business owners to accelerate plans to sell their companies, according to new analysis by wealth management firm Evelyn Partners. The survey, of 500 business owners with revenues of at least £5m, found that 29% of respondents had accelerated their…
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Business confidence dented by fears of higher taxes in budget
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Business confidence fell for the first time in a year amid growing concerns about potential tax rises in the upcoming budget. According to the latest Business Confidence Report from the Institute of Chartered Accountants in England and Wales (ICAEW), confidence among businesses fell from 16.7 in the second quarter to…
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West Ham chairman blames government tax crackdown for super-rich exodus ahead of budget
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David Sullivan, the chairman of West Ham United and one of Britain’s richest individuals, has criticized the government’s tightening of tax rules for non-residents, blaming the changes for driving the wealthy out of the country. Sullivan, who is the football club’s largest shareholder, has cut the asking price for his…
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One-third of homes for sale now chain-free as tax fears loom ahead of budget
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A third of homes currently for sale in the UK are chain-free, as landlords and second homeowners rush to sell amid speculation about potential rises in capital gains tax in the next Budget. According to Zoopla, a real estate search site, the number of agreed-upon home sales is up 25%…
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I retire in January, how do I budget my lump sum and monthly pension?
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My name is Charles. I am scheduled to retire from work in January 2025. I expect to come home with a lump sum salary of Sh3 million and a monthly pension of Sh65,000. How do I invest this money for a comfortable post-retirement life with the same standards I currently…
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China’s Leapmotor and Stellantis open orders in Europe for budget EVs By Reuters
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MILAN (Reuters) – Chinese automaker LibMotor and partner Stellantis said on Tuesday they would start taking orders in Europe for a city car and an SUV as they expand their low-cost electric vehicle offering in the region. Stellantis owns a 51% stake in its joint venture Leapmotor International and has…
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Treasury unveils new taxes worth NIS 40b for 2025 budget
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The Finance Ministry today unveiled sweeping measures including NIS 35-40 billion in cuts to reduce Israel’s ballooning fiscal deficit to 4% in 2025. The measures were unveiled in the Tax Bill and the Anti-Dark Capital Bill, part of the Economic Arrangements Bill, which will accompany the 2025 budget. The measures…
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Middle-class homeowners put kitchen renovations on hold over fears of tax hikes in autumn budget
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Middle-class homeowners across the UK are putting off plans to renovate their kitchens as concerns grow over potential tax rises in the upcoming Budget in October. The possibility of higher taxes, flagged by shadow chancellor Rachel Reeves, has led to a marked drop in consumer confidence, according to kitchenware retailers.…
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Tax incentives and finance access top SMEs’ priorities ahead of autumn budget
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As the Autumn Budget approaches, tax incentives and improved access to finance have emerged as key demands from UK SMEs, according to new research from Bibby Financial Services (BFS). The latest SME Confidence Tracker Index reveals that despite a post-election rebound in business optimism, small business leaders are calling on…
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Israel’s budget chief warns on jump in interest rate costs
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Senior finance ministry officials warned of higher interest rates due to the state budget breach, economic uncertainty and war, saying that “increasing the budget framework could be dangerous for the economy and a negative signal to investors.” The Knesset Finance Committee today discussed a NIS 3.5 billion breach of the…