All posts with the topic: bank levy

A number of points made by George Osborne in his Budget speech earlier today will impact on the Banking sector, and therefore on any businesses seeking to raise loan finance. Bank levy and corporation tax Prior to the Budget, it had been trailed that the bank levy was likely to remain for the foreseeable future. … Continue reading Bashing the banks? Summer Budget measures that will affect banks and finance clients

The Autumn Statement 2012 contained a number of announcements of interest to individuals and small and medium-sized enterprises, but there was comparatively little of relevance to large companies and banks.    The main eye-catching announcement to affect corporates is the further 1% cut to the headline rate of corporation tax – the rate will reduce from 24% for the current year, to 23% from 1 April … Continue reading Corporation tax rate cut again, but pressure on corporate tax avoidance will only increase

Finance Bill 2012 will increase the bank levy to 0.105 per cent. (0.0525 per cent. at the half rate) with effect from 1 January 2013. This increase is intended to off-set the benefit to banks of the reduction in the rate of corporation tax and to ensure that the bank levy raises its target revenue … Continue reading Bank Levy

The Government announced a further increase in the bank levy and indicated that this was, in effect, to offset the 2% reduction in corporation tax from next year. In his speech, the Chancellor also made reference to some of the initiatives that will be funded by the projected £2.5 billion  that will be generated annually … Continue reading Bank Levy

The Chancellor announced today that the Government will introduce a bank levy with effect from 1 January 2011. Rather than the 10 per cent proposed by the Liberal Democrats in their manifesto, the levy generally will be set at 0.07 per cent. The levy will be calculated by reference to: • the consolidated balance sheet … Continue reading Bank Levy

In the initial Coalition Agreement of 11 May 2010, the final Coalition Programme released on 20 May 2010 and the Queen’s Speech given on 25 May 2010 (as well as the recent speeches given by George Osborne) a number of initiatives and changes have been proposed by the Government in relation to the tax system, … Continue reading The Coalition Programme – Summary Of Taxation Proposals