The Changing Face of Britain’s Cities: Edinburgh

Posted on November 8, 2013

Edinburgh Cityscape at DuskEdinburgh is Scotland’s capital city and one of the most economically active cities in the United Kingdom. As such, change and transformation are essential elements in the social and economic life of this city. In recent years, Edinburgh has won a number of accolades that have attracted further investment and new residents, such as the European Destination of the Year 2012 award, the Best Large City for Foreign Direct Investment 2012-2013 recognition, and the Best UK City award. In this article we look at the changes that the Scottish capital has gone through in the recent past in terms of demographic, economic, and industrial patterns.

Demographic changes in Edinburgh

Today, Edinburgh is a bustling metropolis with a population of over 482,000 people, a figure that indicates that over 9 per cent of Scotland’s total population lives in the city. Edinburgh’s larger urban zone has a population of more than 817,000.

Population growth indexes have been rising in Edinburgh for more than two decades. Growth indexes were significant in the decade of the 1990s, when year-on-year population numbers increased by up to 7 per cent. Currently, growth trends have been rather moderate (yet still positive), with a 1 per cent increase in population between 2011 and 2012.

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Tax Tribunals Explained

Posted on October 25, 2013

Compliance with tax-related matters is one of main concerns of business people, and at the same time, one of the most complex aspects of running a business. In the United Kingdom, tax law and taxation requirements tend to change regularly, so it is always wise to entrust these matters to a professional with ample knowledge of the subject. However, it is also important to be familiar with certain basic aspects of business taxation in order to avoid unpleasant surprises. One of the most common scenarios for individuals and businesses is being subject to mistaken tax decisions. What can you do if this is your case? Below you will find all the necessary information.

About tax tribunals

If you or your company want to dispute a tax decision made by HM Revenue and Customs, you must be aware that the appeals procedure was modified in 2009. Up until then, tax disputes were dealt with by the VAT and Duties Tribunal. After 1 April 2009, a two-tier system of tax tribunals was introduced in an attempt to streamline procedures and simplify the handling of tax disputes. The tax tribunal’s jurisdiction is much wider that the one had by its predecessor, as tax tribunals have also come to replace the High Court and the role of General Commissioners in tax-related cases.

The two-tier system of modern tax tribunals is comprised of a First-Tier Tribunal, which in turn comprises six units, including the Tax Chamber; and the Tax and Chancery department of the Upper Tribunal, where unresolved disputes are heard. All cases brought before a tax tribunal are heard at the relevant HM Court.

What kind of issues can be brought before a tax tribunal?

UK tax tribunals are authorised to handle any disputes brought up by taxpayers, whether they are individuals or organisations. In addition, the tribunals concern themselves with both indirect taxes (Customs Duty or VAT) and direct taxation (such as corporation tax or income tax). Other tax-related matters that the tribunals can deal with include national insurance contributions, inheritance tax, stamp duty land tax, PAYE notices, capital gains tax, statutory payments, excise duties, climate change levy tax, and landfill taxes. The Tax Chamber of a tax tribunal cannot deal with disputes concerning tax credits, as these are the jurisdiction of the Social Security Chamber.

A tax tribunal can handle appeals related to both initial decisions and concluding reviews made by HM Revenue and Customs.

What is the procedure involved in appealing to a tribunal?

If you think that you have been subject to an erroneous tax decision, or if you believe that HMRC is conducting an unnecessary enquiry into your company’s direct taxation affairs, you must complete the form that can be found here. The appeal must be filed within 30 days of the HMRC’s decision you are disputing. Once received, the appeal will be allocated to the most adequate track: default, basic, standard, or complex.

The appeal will be acknowledged within 10 days of it being sent, and once the judge has made a decision, the parties involved will be notified within 5 working days of the sentence being signed. Under this legal regime, each party is responsible for paying their own costs. Complex cases or appeals sent from the First-Tier Tribunal’s Tax Chamber will be handled by the Upper Tribunal.

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What is PAYE?

Posted on October 18, 2013

Pay As You Earn (PAYE) is a withholding tax system on income payments made to employees. They system is provided by HM Revenue and Customs whereby Income Tax and National Insurance contributions, or NICs, are collected using deductions throughout the tax year. Deductions are made in each pay period and are based on an employee’s earnings. They are subsequently paid to HM Revenue & Customs by the employee’s employer. Deducted amounts are considered advance payments of income tax due at the end of the tax year. Any excess tax payments are refunded when tax returns are prepared. PAYE may be collected by withholding employee portions of any insurance contributions or social benefit taxes.

About PAYE

PAYE was first introduced in the United Kingdom in 1944 following trails in the early 1940s. The intent of the system was to reduce fiscal pressures during the Second World War by collecting tax from more individuals, many of whom had not paid income tax in the past. PAYE applies on all salary and other compensation payments. It is required when compensation is anticipated to reach and exceed the National Insurance Lower Income Level. The amount deducted is calculated by employers and it is based on the tax code and the applicable National Insurance category. The tax code is determined by HM Revenue and Customs and is based on an employee’s expected income and any applicable tax allowances, exemptions and reliefs expected for the given tax year.

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What are Business Rates?

Posted on October 11, 2013

Business Rates Explained

Business rates in the UK are taxes imposed on businesses by the central government for local services and are collected by the local authorities. Typically, business rates are charged on non-domestic properties such as offices, factories, shops, warehouse and pubs.
Business rates are calculated based on the value of the property occupied. In the UK, the Valuation Office Agency decides the property (rateable) value, which is multiplied by the business rates multiplier determined by the central government. The multiplier is the number of pence per GBP of the tax that the business owner will have to pay, before any discount or relief is deducted. In Scotland, the property (rateable) value is determined by the local agency based on the estimated market rental value on a specific date and it is multiplied by the multiplier, known as poundage rate, determined by the government as a proportion of the property.

Revaluation of business ratesBusiness rates are revised so that they change in line with inflation. This means that a change in the property (rateable) value may not have a significant impact on the amount of tax due, if there are no major variations in the inflation rate. In the UK, revised business rates are validated by the relevant Valuation Office Agency (VOA) by providing evidence of updated rental property. The revaluation of business rates typically takes place every five years to mirror changes in the real estate market. The last revaluation in the UK took place on 1 April 2010 and it is expected to occur on 1 April 2017.

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A Guide to Business Tax in the UK

Posted on October 4, 2013

Knowledge of and compliance with taxation is fundamental to the smooth running of a business. If you run a business or are considering starting one soon, having some basic knowledge about the key elements of the corporate tax system will never go amiss. In this article you will find a brief introduction to the tax system that businesses are subject to in the UK.

Self-employment

If you run a business on a self-employment basis, you are liable to pay income tax and national insurance of your profits. To find out how much you should pay, you must complete a self-assessment, which can be done online at the HM Revenue & Customs website. During the 2013-2014 tax year, the personal allowance on income tax is set at £9,440.

Business partnerships are also taxed on the self-employment principle, where each partner is responsible for paying their own income tax and national insurance contributions.

Limited companies

The tax regime applicable to limited companies is comprised of direct and indirect taxes. These are as follows:

Direct taxation

Capital gains tax

If you sell, exchange, transfer, or give away a business asset, you may be liable to pay capital gains tax. The capital gains tax allowance for 2013-2014 is set at £10,900. Any amount above that threshold is taxed according to a tier system, with highest tier being set at 28 per cent and the lowest at 10 per cent.

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The Changing Face of Britain’s Cities: London

Posted on September 27, 2013

The City of LondonAs the largest city in the United Kingdom and the most populous metropolis in Europe, London is a vibrant city marked by constant change and innovation. These characteristics affect everything in the city, from its economic life to its demographics.

Demographic changes in the British capital

According to the 2012 census, there are 8.2 million people living in London. In just over ten years, the capital’s population grew by 12 per cent, which is the highest growth rate that the city has experienced since the turn of the century.

The city’s population has always been characterised by its ethnic diversity. Ten years ago, 25 per cent of the capital’s population had been born abroad. This figure has been slowly increasing since, and in 2012 the number of foreign-born London residents reached the 3 million mark, which constitutes nearly 37 per cent of the city’s total population.

In terms of ethnicity and country of origin, London has always had large groups of Asian-born residents, mostly from India, Pakistan, and Bangladesh. However, this trend is also changing, as now the largest groups of foreign residents in London include citizens from Poland, Ireland, France, and South America. Undoubtedly, the economic crisis that has swept through Europe has had an effect on the demographics of the British capital.

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The Changing Face of Britain’s Cities: Manchester

Posted on September 20, 2013

Manchester Millennium BridgeWith a total population of over 2.5 million people, the Greater Manchester Area is the second largest urban municipality in the United Kingdom. At the heart of this metropolis is the city of Manchester, a vibrant urban centre that has been crucial to the development of the UK economy since the late 18th century. Like many other large cities throughout the country, Manchester is experiencing a series of social and economic changes that are transforming its face. In this article we take a detailed look at the changing face of this great British city.

Demographics in Manchester

Due to its history as an industrial centre, the city of Manchester traditionally attracted migrants from other parts of the UK, most notably from the north of the country and from Wales. This resulted in a very rapid increase in population numbers, which was particularly notorious between 1900 and 1930.

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How have the Olympics Benefited the UK?

Posted on September 13, 2013

Olympic medalOne Year Since the Olympic Rings Hit the UK

How do the Olympics benefit a country? In the UK, the 2012 Olympic Games transformed the capital into a sports-mad centre of excellence. Team GB, standing for Great Britain, won more gold and silver medals, than at any time in the history of the games. The nation grew enormously proud of its athletes and their achievements.

Economic Benefits of the Olympics in the UK


London 2012 Olympic Partners who sponsored the Games included big hitters Coca Cola, Acer, Dow, General Electric, McDonald’s, Omega,

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East Point Business Park Oxford

Posted on September 2, 2013
East Point Business Park in Oxford

East Point Business Park in Oxford

Oxford OX4 6LB

East Point Business Park Oxford

East Point Business Park provides modern self-contained offices, including serviced and managed space, within close proximity to Oxford city centre. The business park features well-equipped and recently refurbished units. Office space at East Point is available for lease or purchase.

Facilities and Amenities

Office space at East Point Business Park ranges from 100 to 34,000 square feet. The business park consists of five office buildings, including self-contained office space at Orion House, Beaumont House, and Meridian House. Amenities at East Point included raised access floors for most units, suspended ceiling with LG3 lighting, and a comfort cooling and heating system. Each building is assigned dedicated car parking, and on-site parking is available at a ratio of one spot per 228 square feet.

Located within the business park is the Clarendon Business Centre. The centre features serviced and managed office space with the latest IT and telecommunications technology, 24-hour access and security, kitchen facilities, and meeting and conference facilities. The three-storey Sandford Gate building houses serviced and furnished offices suitable for between 1 and 50 workstations, with reception and administrative services. Managed office space is located at Heritage Gate.

Location and Transportation

Situated 3 miles south east of Oxford’s city centre, East Point Business Centre is accessible via the A4142 Oxford Ring Road. The site is less than a 20-minute walk from shops and other amenities, including Tesco, Sainsbury, and a Premier Inn hotel. The Oxford Ring Road provides links via the A40 to Junction 8A of the M40 motorway, as well as the A40 to Newbury and the M4 motorway. Frequent public transportation is provided to and from Oxford and other nearby communities by the Oxford Bus Company and Stagecoach services.

The business park is well situated close to some of England’s major economic centres, including Birmingham (70 miles from the business park) and London (61 miles). East Point is also within an hour’s drive of Heathrow Airport, one of Europe’s busiest airports with connections to every corner of the world.

At the time of publication Prime Office Space has East Point Business Park offices available to let here

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Lyme Green Business & Retail Park

Posted on August 23, 2013
Lyme Green Business & Retail Park

Lyme Green Business & Retail Park

SK11 0LR Near Macclesfield

Lyme Green Business & Retail Park

Lyme Green Business and Retail Park is a mixed commercial development found near the town of Macclesfield, south of Manchester.

The business park is home to a range of businesses, including car showrooms, retail shops, and light industry. Lyme Green is also the site of several business centres with managed and serviced units for businesses of all sizes. The 40-acre retail and business park also features fully serviced plots of land for new design and build projects.

About the Lyme Green Business and Retail Park

Lyme Green features a mix of commercial, industry, storage and distribution, retail and leisure facilities and buildings to a range of tenants. Major tenants at the business park include General Motors, Volkswagen, Vauxhall, Honda, Linkester Engineering, Next, and Broadstock Office Furniture. Units at the park are available service and un-serviced, with amenities such as high-speed broadband internet and abundant on-site parking.

Business centres at Lyme Green feature meeting and conference facilities, reception services, security services and 24-hour access, and a range of other amenities. Centres at the park include Guildford House, a modern 24,000 square foot office building with offices and warehousing accommodation. Similarly, Emerson Business Centre at Beechfield House provides 44 suites with office, retail and industrial space. Opened in 2003, Beechfield House also includes meeting rooms and kitchens for tenants.

Location and Transportation Links

Lyme Green Business and Retail Park is situated south of the market town of Macclesfield. It is conveniently located close to several motorways, including the M6, M56, M60 and M63, as well as Manchester International Airport. In addition to excellent transportation links, the business park sits within an area of natural beauty west of the Macclesfield Forest and the Peak District.

Lyme Green is adjacent to London Road (A523). Macclesfield town centre is less than two miles north of the business park, which is also within a half-hour’s drive south of the M56 motorway and Manchester Airport. The airport offers regular flights between Manchester and destinations across the United Kingdom, Europe, the Americas, Asia and other cities around the world. The business park is also a half-hour’s drive east of the M6 motorway and approximately 40 minutes from Manchester’s city centre. Bus services to Macclesfield town centre operate along London Road. Rail services to Manchester and other destinations are also available from Macclesfield rail station in the town centre. London’s Euston station is under two hours from Macclesfield, and Manchester Piccadilly is within a 20 minute journey by train.

Lyme Green Business Park, Macclesfield

Nearby office space to let: