Here at Randd UK Ltd, we are specialists in R&D Tax Credits, claiming money for innovative businesses in the UK and take a deep rooted interest in the financial state of the UK. Here are some of the most interesting and relevant articles that we’ve come across. We think they’re definitely worth a read.
Lower Interest Rates for businesses?
Paul Tucker, the Deputy Governor of the Bank of England has given the central bank’s new lending scheme the thumbs up. The Funding for Lending Scheme will allow banks to offer lower interest rates to businesses and households all over the country and according to this article, he was “pleasantly surprised” by the number of banks that had signed up to the scheme since its inception in August. Apparently, if the Scheme is as successful as expected, it would reduce the need to buy extra government bonds under the Quantitive Easing scheme.
read it here: BoE’s Tucker confident lending scheme will help UK
UK to fund Carbon Capture and Storage
A billion pound competition has been launched in order to reduce carbon emissions from the UK’s energy sector. The UK’s energy minister is eager to financially support the idea and is due to meet with the heads of the coalition parties to discuss the funding however it isn’t confirmed whether or not the Prime Minister himself will be a part of the discussion.
read more here: UK energy minister wants to fund two CCS projects
Facebook dodging tax
Mark Zuckerberg’s social media giant Facebook has come under scrutiny after paying £238,000 on reported UK earnings of £175m. Experts estimate £175 million in revenue was taken by facebook, but they can avoid millions in corporation tax by diverting most of its sales via Ireland. Facebook’s non-US headquarters are situated in Dublin, where the company maintains that they do pay corporation tax.