Tag: Finance

Jan 25

Chrystia Freeland finally offers plan to help Bank of Canada cover its losses

Breadcrumb Trail Links Finance Economy Banking Legislative tweak will allow Bank to get rid of its first red ink in history Finance Minister Chrystia Freeland has told Bank of Canada governor Tiff Macklem that the government will amend legislation so that the central bank can keep earnings to offset its losses. Photo by REUTERS/Blair Gable […]
Sep 23

The Chancellors’ winners and losers

High earners will benefit most from today’s mini budget announcement. Speaking to Business Matters Paul Haywood-Schiefer, Senior Manager at leading tax and advisory firm Blick Rothenberg said: “The reversal of the recent increase to NIC rates will provide savings to all earners, where their income is above around £10,000 per annum (and assuming similar reductions are made […]
Sep 23

IR35 reforms to be scrapped in April 2023

Reforms to the off-payroll working rules, known as IR35, are to be scrapped from April 2023, the Treasury has announced. This will mean that from 6 April 2023, contractors working for an organisation via an intermediary will once again be responsible for determining their employment status and paying the appropriate amount of tax and national […]
Sep 23

Chancellor scraps 45p top rate of income tax

Kwasi Kwarteng has announced that he will scrap the top 45p rate of income tax and cut the basic rate of income tax by 1p next year as part of a “bold and unashamed” push for growth. The chancellor announced £50 billion worth of tax cuts including scrapping the rise in national insurance, freezing corporation […]