How Brown's magic will hit companies
Article Abstract:
The United Kingdom Mar 1998 Budget is likely to affect companies in a number of ways. Advance corporation tax is likely to be abolished and the rate of corporation tax is being reduced, but the government wants quarterly payments instead of an annual payment nine months after the company's year ends. This could cause cash flow problems for many companies. Gas and petroleum industry taxes are to be reviewed. Duties on road fuel are likely to be increased to encourage usage of public transportation. Tobacco products are likely to be taxed more, but there is less certainty about alcohol levies.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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No tax rises
Article Abstract:
The United Kingdom Jul 1997 Budget may not involve an overall increase in taxation, according to Kevin Gardiner from Morgan Stanley. There are political and administrative constraints which affect the government, and the government's need to borrow may be less than expected if economic growth is strong. Inflation could become a problem, but rises in interest rates can deal with this problem more effectively than tax increases. The value of pound sterling can be chamged by foreign exchange intervention or by talk.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Whistling in the wind
Article Abstract:
The United Kingdom has abolished dividend tax credits in the Jul 1997 Budget. This move will affect overseas as well as domestic investors such as pension funds. The government argues that it will help promote investment, but companies may have to spend more on pensions instead. Gross dividend yields for UK stocks have been reduced, which makes them appear more overvalued and this could exacerbate a bear market when it occurs.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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