Offshore companies have been selling their UK real estate after a multi-million pound tax crackdown - but only just. New figures from the Land Registry show fewer properties in the UK are owned by companies registered overseas than at the start of 2018. As of May 2019, there were 96,248 properties owned by offshore companies, compared to 97,227 in January 2018. In that time, 9,916 properties were sold to UK companies or individuals, and 8,937 were newly purchased by a foreign company. It’s only a slight decrease of 1% - or 979 properties. But a campaigning MP has claimed even this drop may suggest new tax laws are having an effect. Prior to April this year, a legal loophole meant that foreign companies did not have to pay corporation tax when they made money selling commercial real estate. In November 2017, it was announced that from 6 April 2019, non-resident investors would pay the same rate of Capital Gains Tax (currently 20 per cent) as their UK counterparts on … [Read more...] about Offshore firms slowly sell off property in UK – but there’s a long way to go
Uk corporate governance
Labour leader Jeremy Corbyn unveiled the "most radical and ambitious plan to transform Britain," on Thursday. If elected on December 12, Corbyn said he would "take on vested interests." "The big polluters, financial speculators and corporate tax-dogers have had a free ride for too long," said Corbyn, insisting Labour's agenda was "fully costed" and deliverable. It was "time for real change," said Corbyn, claiming nine years of austerity under the Conservatives stemmed from a system working "just fine for them — it's rigged in their favour." Read more: Johnson and Corbyn face off in TV debate Free broadband for all Infrastructure nationalizations sought by Labour would include the fixed line network of telecoms provider BT of provide free broadband and state takeovers of rail, water and mail delivery services. Taxes for the top 5% of earners would rise, with workers placed on company boards and funds boosted for health, education and transport. "We will give … [Read more...] about UK election: Labour’s Corbyn unveils ‘radical’ manifesto
By Ayobami Akanji & Aliyu Abdullahi The banks lobbied Washington so they could write the rules that got us into this crisis. They then lobbied Washington to get the money to bail them out. And then they are lobbying Washington to write the rules so they can get us into the next crisis. It’s perfect circularity – Elizabeth Warren Elections world over generate different degrees of attention. Local or international, interested parties most times pitch with the side their emotions or interests appeal to. Then, different ideological postulations fly around in the political space. Nigeria, despite all she has been through, is still the gateway to Africa. This is why everything that affects Nigeria, ends up affecting Africa. Our elections always draw the attention of international observers. It is therefore unsurprising to read from Ms Priti Patel, UK’s former Secretary of State for International Development that Nigeria is a place investors should … [Read more...] about FDI: How UK’s ex-Secretary missed the point
Brexit A majority Lib Dem government would revoke article 50 and ensure Britain stays in the EU. In other circumstances, they would champion a second referendum with the option of staying in Europe, which they would actively campaign for. They describe Brexit as a “national humiliation” that ultimately costs the NHS, public services, scientific collaboration, peace in Northern Ireland and the ability to tackle climate change. But their “remain bonus” of £50bn is the basis for a lot of the manifesto’s spending commitments, and this pot of money comes from forecasts of higher growth for the UK economy in a remain scenario. Their votes at 16 policy would also come into play if there was another Brexit vote. Education Jo Swinson has made much of her party’s offer for children and families and education makes up the lengthiest portion of the manifesto. Headline-grabbing policies are plugging the gap in childcare for working parents by offering free … [Read more...] about Liberal Democrat manifesto: key policies explained
Health Labour’s big policy is a promise to increase spending on the NHS by an average 4.3% a year. The party’s base will be hugely cheered by a pledge to end and reverse privatisation in the NHS in the next parliament and reinstate the responsibilities of the health secretary to provide a comprehensive and universal healthcare system. A milkshake tax would come into force on top of the existing levy on sugary drinks, as well as a ban on fast-food restaurants near schools and stricter rules around the advertising of junk food and the levels of salt in food. Free annual NHS dental checkups would be available to all. A new National Care Service to tackle the social care crisis, with a lifetime cap of £100,000 on the costs of personal care. Brexit Labour would rip up Boris Johnson’s Brexit deal, negotiate a new one with the EU within three months, and then put the deal to a referendum within six months of coming to power. Immigration Labour has come up with a … [Read more...] about At a glance: what’s in the Labour party manifesto?