In this year’s Autumn Statement, Chancellor George Osborne revealed that nine construction sites across the country will receive equity contributions or loans totalling £1bn and the Local Infrastructure Fund will be extended for five years.
The areas which will receive funding are:
- Lubbesthorpe Blaby
- East and North Manchester City Fringe
- Newark Future
- East Leeds Extension
- Newton Leys Milton Keynes
- Tadpole Farm Swindon
- London Paramount Dartford
- Wellesley Rushmore
- Berryfields Aylesbury Vale
A Dept of Communities and Local Government spokesperson commented that the nine areas were placed on a reserve list following the publication of the original criteria for building in March of 2013. They explained that the 9 reserve areas would be put through due diligence to decide if funding should be awarded and that more details explaining how developers can get for funding would soon be revealed. £50m of the available money will be set aside for Local Enterprise Partnership bids. Continue reading
An investigation into a construction and design business allegedly linked to the Mafia has led to the arrests of six people. The group, which is believed to have undertaken construction work in a number of high-profile properties including the Tuscan home of ‘Police’ singer Sting and his wife Trudi Styler.
On Wednesday Florence police seized goods and property worth over £9 million and took the men into custody on suspicion of attempting to secure construction contracts by offering knock down prices through false invoicing and tax evasion. Continue reading
In October HMRC announced that they would begin shutting down redundant Pay As You Earn or PAYE schemes in a bid to improve efficiency and save money. It was revealed that the tax body will now automatically shut down any PAYE account which is inactive for a period of 120 days or more.
The new development for HRMC will mostly affect health workers, shop workers and construction workers, whom are most commonly taxed using the PAYE tax system. Continue reading
Make sure you don’t miss out on your tax claim in the lead up to christmas. Every penny counts, as Nigel Russell now knows.
Liverpool property developer Middle England Developments (MED) has gone bust thanks to a £500,000 tax bill. It was announced today that familiar Liverpool figure and firm owner Nigel Russell has placed MED into administration following revelations that the company owes half a million to HRMC and has amassed overall debts which could amount to more than £3m.
In September, the HRMC petitioned for the company to be placed under administration due to the unpaid tax bill and owner Russell attempted to undertake a voluntary arrangement with creditors (CVA) allowing them to receive 45p of every pound owed, but the arrangement was not accepted and the company is now being disbanded. Continue reading