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Wednesday, November 25th, 2015

 

Entrepreneurial Scotland Awards

Saltire’s Loggie named entrepreneur of the year

Mike Loggie

Mike Loggie of Saltire Energy was named entrepreneur of the year at last night’s Entrepreneurial Scotland awards. He spoke of his loyalty to Scotland and how he named the company after the country. Cheeky Chompers, which makes a teething product, was named emerging entrepreneur. The company run by Julie Wilson and Amy Livingstone was formed in 2012 when they met at an ante-natal class. It now operates in 31 countries. They disclosed to Daily Business  that this week they will be launching a new product called Chewy. Chief executive ofRead More


Analysis

A new image for George the builder

Susannah Simpson

George Osborne’s focus today was firmly on rebuilding the UK’s finances whilst maintaining economic stability and security. Not so much a rabbit as a U-turn, his pirouette on tax credits will, in part, be funded by increased corporate tax receipts which he sees as confirmation that the UK economy is steering a safe and steady course. The 1% cut in corporation tax to 19% in 2017 and to 18% in 2020 was announced earlier this year, and apart from blocking some intangible asset and capital allowance tax schemes that artificiallyRead More


Anaylsis: Overview

Rebuilding Britain into the digital age

Bruce Saunderson

As the Chancellor took to the floor to kick-start his third Budget statement of 2015, many were anticipating some shift in the proposed cuts to tax credits. However, in what has to be the headline announcement – and perhaps the biggest surprise – we got a complete U-turn instead. Those individuals who rely heavily on tax credits will be hugely relieved to hear of the change – but they may not be out of the woods just yet.  They will need to have one eye on the impact on theirRead More


Digital tax accounts

Further step forward for e-government

Susannah Simpson

A single digital tax account was announced that will encourage businesses to be more efficient and speed up the process. The move toward ‘e-government’ was generally supported, even though it means more change for hard-pressed smaller firms. Susannah Simpson (left), tax partner, PwC in Scotland said: “Against a backdrop of increasing tax compliance, moving to new digital tax accounts is a great step forward. “For those taxpayers who have suffered incorrect coding notices and endless time on hold to HMRC, this digital transition will be met with optimism, even if itRead More


Apprenticeship levy

Payroll tax is ‘sting in tail’ says CBI boss

Carolyn Fairbairn

The Chancellor set the apprenticeship levy on employers at 0.5% of the total wage bill which was described as a “sting in the tail” of a generally business-friendly statement. Bryan Buchan, chief executive of Scottish Engineering said: “We are gratified to see clarification of the apprenticeship levy in England and Wales. However, we await with interest to see how Holyrood will respond to benefit the apprentices in Scotland. There are of course, a number of engineering companies with sites in England and Scotland so it will be interesting to see howRead More


Market lifted by response to Chancellor

London Stock Exchange

The London market reacted positively to news that George Osborne had found an extra few billion pounds, as the Office for Budget Responsibility (OBR)’s more optimistic assessment of future tax revenues allowed the Chancellor to scrap some of his most controversial cuts. The FTSE 100 closed around 1% higher or 60.4 point to close at 6,337.64 following an Autumn Statement which delivered slightly less pain to the public sector than had been anticipated. The OBR also helped markets by edging up its forecasts for growth in the UK economy, toRead More


Bank sell-off

Treasury plans to sell £25 billion of RBS shares

RBS Gogarburn

The Treasury plans to sell £25 billion of shares in Royal Bank of Scotland over the parliament, documents with the Statement reveal. READ MORE


R&D + green measures

Energy research spending to be doubled

George Osborne commons 1

Investment in energy research is to be doubled in a move seen as a bonus for nuclear power. Fiona Reilly, head of nuclear energy at PwC, said: “The Chancellor’s commitment to ‘doubling our spending on energy research with a major commitment to small modular nuclear reactors’ is welcome news to the nuclear industry and an important development for the country’s energy mix. “The commitment to invest in small modular reactors is also of great significance to the UK’s engineering and manufacturing industries which, it is envisaged, will be significantly involved inRead More


Housing

‘We are the builders’ says Osborne in boost to housing

housebuilding

Shares in Britain’s listed house builders gave back some of this morning’s gains after George Osborne’s measures to stimulate building and buying proved underwhelming. Housing had been tipped by many to be an area where the Chancellor would spring a surprise in his Autumn Statement. A raft of measures were announced, but none that could be called a “rabbit out of the hat”. Mr Osborne, announcing to MPs “We are the builders”,  said that he was doubling the UK Government’s housing budget, to £2bn a year, in a move thatRead More


British Accountancy Awards

Two awards for Johnston Carmichael

Johnston Carmichael

Scottish accountancy and business advisory firm Johnston Carmichael, has picked up two awards at the British Accountancy Awards 2015 – Restructuring Project of the Year and Corporate Finance Team of the Year. These annual awards recognise those that have demonstrated excellence and innovation in the UK accountancy profession over the past 12 months. Winners were announced at a ceremony at The Brewery in London. This win comes after Johnston Carmichael received the Insolvency Team of the Year accolade at the 2015 Scottish Accountancy and Finance Awards in June this year. DonaldRead More