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Entrepreneurs' Relief
In the United Kingdom, entrepreneurs selling their business (technically "qualifying assets") can claim Business Asset Disposal Relief. This is a lifetime allowance of £1million of gain that will be subject to Capital Gains Tax A capital gains tax (CGT) is the tax on profits realized on the sale of a non-inventory asset. The most common capital gains are realized from the sale of stocks, bonds, precious metals, real estate, and property. In South Africa, capital g ... (CGT) at a reduced rate of 10%. Description To be eligible, a shareholder must have a 5% or more shareholding, and have been involved for 2 years or more with a company as an employee or director. Capital distributions from a limited company can occur as a result of a member's voluntary liquidation, and resulting profits are subject to CGT. Return of share capital following a resolution at the AGM is not classed as capital gains. The measure was introduced as Entrepreneur's Relief in April 2008, and re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Gains Tax In The United Kingdom
Capital gains tax in the United Kingdom is a tax levied on capital gains, the profit realised on the sale of a non-inventory asset by an individual or trust in the United Kingdom. The most common capital gains are realised from the sale of shares, bonds, precious metals, real estate, and property, so the tax principally targets business owners, investors and employee share scheme participants. In the UK, gains made by companies fall under the scope of corporation tax rather than capital gains tax. In 2017–18, total capital gains tax receipts were £8.3 billion from 265,000 individuals and £0.6 billion from trusts, on total gains of £58.9 billion. The current operation of the capital gains tax system is a recognised issue. The Conservative government consulted on the issue in 2020. Beginnings The capital gains tax (CGT) system was introduced by Labour Chancellor James Callaghan in 1965. Prior to this, capital gains were not taxed. Channon observed that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquidation
Liquidation is the process in accounting by which a Company (law), company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as :wikt:wind up#Noun, wound-up or dissolved, although Dissolution (law), dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or Government agency, agency in a country responsible for collecting and safeguarding Duty (economics), customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry. Liquidation may either be compulsory (sometimes referred to as a ''creditors' liquidation'' or ''receivership'' following bankruptcy, which may result in the court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. ''wind-up order'' in Australia) or voluntary (sometimes referred to as a ''sharehold ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
March 2010 United Kingdom Budget
The March 2010 United Kingdom Budget, official known as Budget 2010: Securing the recovery, was delivered by Alistair Darling, Chancellor of the Exchequer, to the House of Commons on 24 March 2010. The budget speech outlined the Labour Government's fiscal policies prior to the 2010 general election, which had to be called before July. It was also the last budget delivered by Labour until October 2024. The Budget's main headlines included: *A one-off " bank payroll tax" on bankers bonus payments, projected to be worth £2bn *£11bn of savings across Government and a further £5bn savings from targeted spending *Introduce a new right to open a basic bank account *Above-inflation increases to alcohol and tobacco duties, with a pledge to redefine strong ciders in September 2010 *To reduce a previously announced fuel duty increase in April 2010, and introduce small increases at intervals *Temporary increase in small business rate relief *Threshold for stamp duty raised from £1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Times
''The Times'' is a British Newspaper#Daily, daily Newspaper#National, national newspaper based in London. It began in 1785 under the title ''The Daily Universal Register'', adopting its modern name on 1 January 1788. ''The Times'' and its sister paper ''The Sunday Times'' (founded in 1821), are published by Times Media, since 1981 a subsidiary of News UK, in turn wholly owned by News Corp. ''The Times'' and ''The Sunday Times'' were founded independently and have had common ownership only since 1966. It is considered a newspaper of record in the UK. ''The Times'' was the first newspaper to bear that name, inspiring numerous other papers around the world. In countries where these other titles are popular, the newspaper is often referred to as or , although the newspaper is of national scope and distribution. ''The Times'' had an average daily circulation of 365,880 in March 2020; in the same period, ''The Sunday Times'' had an average weekly circulation of 647,622. The two ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Japanese holding company, Nikkei, Inc., Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson plc, Pearson sold the publication to Nikkei for Pound sterling, £844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. In 2023, it was reported to have 1.3 million subscribers of which 1.2 million were digital. The newspaper has a prominent focus on Business journalism, financial journalism and economic analysis rather than News media, generalist reporting, drawing both criticism and acclaim. It sponsors an Financial Times and McKinsey Business Book of the Year Award, annual book ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resolution Foundation
The Resolution Foundation is an independent British think tank established in 2005. Its stated aim is to improve the standard of living of low- to middle-income families. Appointments From 2005 to 2010, Sue Regan served as the chief executive of the organisation. She was succeeded by Gavin Kelly, who led the organisation from 2010 to 2015. Following his tenure, Kelly became the CEO of the Resolution Trust, the think tank's primary funder. In June 2015, the former Conservative MP David Willetts took over as executive chairman. At the same time, Torsten Bell, a former senior advisor to Ed Miliband, was appointed as the organisation's director to lead what the Foundation described as "an expanded programme of work". By November 2019, Willetts had become president of the Foundation's Advisory Council and Intergenerational Centre, while Bell had advanced to the role of chief executive. In May 2024, Bell departed from the organisation after being selected as Labour's candidate f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2016 United Kingdom Budget
The 2016 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 16 March 2016. It was the second fully Conservative budget delivered by Osborne, after the July 2015 budget. This was to be Osborne's last budget as Chancellor, as he was replaced by Philip Hammond on 13 July by way of Theresa May's cabinet reshuffle. Background In the November 2015 Autumn Statement, the independent Office for Budget Responsibility predicted that the UK economy would grow by 2.4% in 2016. Budget announcements * Osborne will introduce a sugar tax on soft drinks from 2018, raising around half a billion pounds which will be used to fund after-school activities such as sport and art. * The predicted GDP growth for 2016 was lowered to 2% from 2.4%. * The tax-free allowance will be raised to £11,500 and the 40p tax threshold will increase to £45,000. * There will be a new savings account, the Lifetime ISA, for the under-40s, wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United Kingdom
In the United Kingdom, taxation may involve payments to at least three different levels of government: Government of the United Kingdom, central government (HM Revenue and Customs), Devolution in the United Kingdom, devolved governments and Local government in the United Kingdom, local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, United Kingdom corporation tax, corporation tax and Hydrocarbon oil duty, fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for decriminalised parking enforcement, on-street parking. In the fiscal year 2023–24, total government revenue was forecast to be £1,139.1 billion, or 40.9 per cent of Gross domestic product, GDP, with income taxes and National Insurance contributions standing at around £470 billion. History A uniform Land Tax (Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
