Chart of the week: a pause in the peso’s decline
The Mexican peso has bounced by around 5% from record lows against the US dollar in the past few days. But it has still lost 12% in a year.
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The Mexican peso has bounced by around 5% from record lows against the US dollar in the past few days. But it has still lost 12% in a year, and the respite looks unlikely to last long, says Roger Blitz in the FT.
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"By 2020, small firms turning over as little as £10,000 a year will have to file [their tax returns] online every three months, with some due to begin in April 2018. The Treasury Committee can't see why companies earning less than the VAT threshold of £83,000 need to be captured by the new system initially The switch to digital makes sense but, as currently proposed, all the risk and extra cost is piled onto entrepreneurs while the reward is reaped by HMRC, which believes the Making Tax Digital initiative will bring in extra receipts of £625m. How much more might it earn if the tycoons of tomorrow were not put off from setting up shop?"
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