Posts tagged "Corporation Tax"
Hestview Limited Notes to the financial statements 23. Events after the balance sheet date (continued) Concurrently, on 7 August 2025 the Group entered into Fourth Incremental Assumption Agreement (the “Fourth incremental Assumption Agreement”) further amending its existing Credit Agreement dated November 24, 2023. This amendment pravided for an additional $500 million of Term Loan B borrowings (the “Fourth. Incremental Term 8 Loans”), which: * mature on 4 June 2032; ¢ bear interest, at the Borrower's option, at either (i) Adjusted Term SOFR + 2.00% (subject to a 0. 50% floor) or (ii) ABR + 1.00% (subject to a 1.00% ABR floor); and, * require quarterly amortization of 0.25% of the original principal amount, with the remaining batance due at maturity. The aggregate principal amount available under the revolving credit facility under the Credit Agreement also increased by £50 mittion. The Notes, the Third Incremental Term B Loans and the Fourth Incremental Term B Loans are guaranteed on a-senior secured basis by the Company and other guarantors (together “the Guarantors}, who are also the Guarantors of the existing notes and the credit facilities of the Group as on 31 December 2024. - : N Ouring 2025, as part of a strategic initiative, it was annourg€d the Campany’s sportsbettirm™ would transfer to a newly established fellow Group compagy, SBG Sports (Malta) Limited. Fo will provide support services and licence intellectual propereio fellow Group companies. trading activities will decrease from 2026 onwards. gperations under the Skybet brand owing this transfer, the Company nagement expects the Company's The Directors are not aware of any other matter or circumstance occurring since 31 December 2024 up to the date of these financial statements that has significantly or may significantly affect the operations of the Company, the results. of those nneratiane or the ctatre af affaire af tho Caomnany in cuhcequent financial vears
Nov 18, 2025 Investigations

Betting on tax avoidance – is Sky Bet avoiding £55m tax per year?

ITV News has just broadcast an investigation: gambling company Sky Bet has migrated its business to Malta to avoid around £55m of tax each year. We provided technical support for the investigation, and this report goes into further detail of what precisely Sky Bet has done. Sky Bet provides a vague explanation of why they […]
telegraph headline
May 23, 2025 Analysis

The Angela Rayner tax proposals – how much sense do they make?

Angela Rayner’s leaked tax memo to Rachel Reeves outlines a raft of new revenue raisers. In this post, I look at each proposal, and ask whether it makes sense, and whether it would raise the claimed amount. The original report from the Telegraph sets out the detail of the memo – see also coverage from […]
% of local parties with rental income Local parties rental income and tax - percentages where rent received 100% 80% 60% 40% 20% 0%
May 11, 2025 Investigations

Political parties failing to pay tax on rent – including rent funded by MPs’ expenses

Political parties’ local branches are failing to pay tax on their commercial income – even when that income is funded by taxpayers. All the political parties talk about the tax gap – the £40bn difference between the tax that should be paid and the tax that isn’t. So we’d expect the political parties to lead […]
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Oct 18, 2024 Policy

The tax longlist – 35 ways Rachel Reeves could raise £22bn

Rachel Reeves has said there is a £22bn “black hole” in the public finances, and that she’ll have to raise tax to fill it. Labour are heavily constrained by their pre-election promises, and that makes raising £22bn a challenging endeavour. But certainly not impossible. This is an updated version of my August article. I’ve previously […]
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Oct 14, 2024 Policy

How to reform corporation tax

This Government was elected on a platform of kickstarting economic growth. It has a large majority, and four or five years until the next election. It’s a rare chance for real pro-growth tax reform. That’s all the more necessary if we are going to see tax rises. We’ll be presenting a series of tax reform […]
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Oct 23, 2023 Policy

The reality of tax complexity, and how to fix it

It’s a common complaint that the UK tax system is much too complicated. That complaint is correct. Some of the complication is inevitable (modern life is complicated). Some is a response to avoidance. Some is driven by policy choices (e.g. VAT exemptions). But some of the complication really is unnecessary. I’ll try to demonstrate the […]
Corporate tax as % of gross operating surplus 1975 Corporate tax as % of gross operating surplus, compared with headline rate, 1978-2023 (est) TAX (4 POLICY ASSOCIATES 1980 1985 1990 1995 2000 2005 2010 2015 2020 60% 50% 40% 30% 20% 10% 0% xe) ouljesodio3 jo aye 9Ul|pe3aH
Oct 3, 2023 Analysis

UK companies are now paying more tax than at any point since the 1970s

Raising corporation tax to 25% will take the effective rate to the highest it’s ever been in the UK, and one the highest in the developed world. That’s bad – but the alternatives are worse.
Corporation tax as a % of GDP, compared with headline rate
Feb 12, 2023 Analysis

Why the 25% corporation tax increase is a bad idea which I support

Raising corporation tax to 25% will take the effective rate to the highest it’s ever been in the UK, and one the highest in the developed world. That’s bad – but the alternatives are worse.
Shape of the UK tax system, 2021/22, all taxes raising £1bn or more Corporation tax Council tax £68bn £35bn Fuel duties £26bn National insurance £158bn Alcohol Stamp duties £13bn £19bn Income tax £233bn
Oct 11, 2022 Analysis

The UK tax system in five infographics, and what we can learn from the fact they are boring

The chart above shows the composition of the UK tax system – the contribution made by each of the different taxes. It must have seen dramatic changes over the last forty years: Not really: Or, over a longer period, and as a % of GDP: The same data, but normalised so it shows the share […]

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