Business tax

A tax on transactions made by banks and financial institutions in 11 European Union (EU) countries would be 'illegal', according to EU lawyers.

Charging shoppers for single-use bags in Scotland could generate £90 million for the economy, a report by the Scottish Government says.

The House of Lords Economic Affairs Committee has said the UK corporation tax system does 'not work' and 'urgently needs reform'.

The Government has launched a consultation on providing two new tax reliefs worth £50 million to boost and support the creation of employee-owned companies.

The survey, which questioned business decision makers and members of the public, found that 34 per cent of the highest earning businesses and individuals take advantage of measures to reduce their tax liability, compared with just 18 per cent of SMEs.

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