Extra 1.3m people in UK to start paying income tax over next five years

An extra 1.3 million people will have to start paying income tax – and a further million will be pushed into higher rate taxation – over the next five years, according to the Office for Budget Responsibility. In his budget on Wednesday, the chancellor, Rishi Sunak, said the thresholds at which the tax starts […]

Amazon could be a big winner of Rishi Sunak’s investment tax break

Amazon could “entirely wipe out” the tax bill of its main UK service company by taking advantage of the chancellor’s £25bn “super-deduction” tax break, according to analysis by a tax fairness campaign group. The super-deduction, announced by Rishi Sunak in the budget on Wednesday, will allow companies such as Amazon to offset 130% of […]

Jay-Z sells majority stake in Tidal music streaming service to Jack Dorsey’s Square

Square, the mobile payments firm run by Jack Dorsey, Twitter’s co-founder, has acquired a majority stake in Jay-Z’s Tidal audio and video music streaming service in a $297m deal. Under the terms of the deal, Tidal’s superstar co-owners, who include Beyoncé, Madonna and Rihanna, will retain their stakes and become the second largest shareholders. […]

Manchester United borrow £60m as debt rises amid Covid-19 pandemic

Manchester United have confirmed they accessed a £60m draw-down of their available £200m credit line in order to cover a soaring net debt of £455.5m as a result of the coronavirus pandemic. The club have also announced a 2.6% growth in total revenue from £168.4m to £172.8m in the last three months of 2020. […]

Frasers Group warns of store closures after ‘near worthless’ budget support

Frasers Group, the retailer controlled by the Sports Direct founder Mike Ashley, has said it will be forced to close stores and cut jobs after a “near worthless” support package on business rates in the budget. The group, which includes Sports Direct, House of Fraser, Flannels and Evans Cycles, said retailers needed a complete […]

Companies ‘will quit UK’ over Sunak’s corporation tax rise

Companies will leave Britain to avoid Rishi Sunak’s corporation tax rise, experts have warned. Documents from the Treasury and the Office for Budget Responsibility reveal that officials are concerned the higher rate will encourage tax avoidance as companies shift profits to low-tax jurisdictions. However, experts claimed that a bigger risk was companies moving their […]

Online entertainment sector represents growing revenue stream across the world

There can be no doubt that online entertainment (such as streaming platforms like YouTube and subscription services like Netflix and Amazon Prime) is eclipsing traditional television and irrevocably diminishing its influence. This trend is perhaps most visible in Japan, given its reputation for innovation and its historically high engagement with new forms of technology. […]

MIT Fitness Startup Partners with World’s Largest Gym Chain

There is no denying that the Coronavirus pandemic forced the fitness industry to evolve faster than ever. Because of concerns regarding virus transmission and to enforce social distancing, gyms and fitness centers worldwide had to shut their doors. Buildings that used to be filled with sweat and endorphins transformed into ghost towns seemingly overnight. […]

A Guide To Choosing The Right 401(k) Provider For Your Company

Selecting the best 401(k) provider for your small business can be a time-consuming, expensive, and confusing operation. Though, you need to add a 401(k) plan to your business in order to attract and retain skilled employees. In this article, you will be guided on how to choose the right 401(k) provider for your company. […]

Marks & Spencer axes all 29 in-store bank branches and tells customers it is shutting their current accounts

Marks & Spencer is set to terminate its current accounts later this year and shut its 29-in store bank branches with its banking customers told to either switch to another lender or close their accounts altogether. The chain is set to make the change due to many customers switching to online banking over the […]