UK ends 2021 with Covid-19 infections hitting new daily high


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Britain reported a new high 189,846 daily cases of Covid-19 on Friday, up slightly from 189,213 the previous day as the Omicron outbreak deepens the health crisis into the new year.

More than two million people in England were believed to be infected with Covid-19 last week, equivalent to one in 25, with figures as high as one in 15 in London.

An Office for National Statistics analysis of swabs collected from selected households showed an estimated 4 per cent of people in England, or 2,024,700 people, had Covid-19 in the week ending December 23. One in 35 people in England were estimated to have had the disease a week earlier.

“The highest rates of infections were seen in London, where one in 15 would have tested positive, and the lowest in the north-east of England, where one in 45 would have tested positive for Covid-19,” the report notes.

The proportion of Covid-19 patients being treated primarily for the virus in England’s hospitals, however, has dropped slightly, new figures show.

Meanwhile, data from NHS England, published on Friday, shows that, of the 8,321 patients with coronavirus in hospital in England on December 28, 5,578 were being treated primarily for Covid-19. This is down from 71 per cent a week earlier and 74 per cent at the start of December.

But the number being treated primarily for coronavirus was up by a quarter from 4,432 on December 21.

The statistics also show that the number of patients who had Covid-19 but were primarily being treated for something else also rose from 1,813 to 2,743, a jump of 51 per cent.

NHS England has said that Covid patients primarily being treated for another issue still have to be separated from non-Covid patients and the virus can be “a significant comorbidity”.

Covid test kits are handed out at a testing site at Edinburgh Airport, Scotland. PA
Covid test kits are handed out at a testing site at Edinburgh Airport, Scotland. PA

“The majority of inpatients with Covid-19 are admitted as a result of the infection,” a statement said. “A subset of those who contract Covid in the community and are asymptomatic or exhibited relatively mild symptoms that on their own are unlikely to warrant admission to hospital will then be admitted to hospital to be treated for something else and be identified through routine testing.

“Equally, while the admission may be due to another primary condition, in many instances, this may have been as a result of contracting Covid in the community. For example, research has shown that people with Covid are more likely to have a stroke. In these cases, people would be admitted for the stroke, classified as ‘with’ Covid, despite having had a stroke as a result of having Covid.”

The new data come a day after separate figures showed the number of patients in hospital with coronavirus in England had climbed to the highest level since February.

Official figures showed 12,395 patients in hospital in England with Covid-19, up from 11,542 on Thursday and the highest number since February 26.

During the second wave of coronavirus, the number of Covid patients in hospital in England peaked at 34,336 on January 18.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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The organisation said its name is best interpreted as ‘the best for women’.

Since then the group has grown exponentially around the world and is officially affiliated with the United Nations. The organisation also counts Queen Mathilde of Belgium among its ranks.

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The line-up as it stands for the Greatest Royal Rumble in Saudi Arabia on April 27

50-man Royal Rumble

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Casket match
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Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

SmackDown Tag Team Championship
The Bludgeon Brothers v The Usos

Raw Tag Team Championship
Sheamus and Cesaro v Bray Wyatt and Matt Hardy

United States Championship
Jeff Hardy (champion) v Jinder Mahal

Singles match
Triple H v John Cena

To be confirmed
AJ Styles will defend his WWE World Heavyweight title and Cedric Alexander his Cruiserweight Championship, but matches have yet to be announced

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Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

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3. Leicester 67

4. Chelsea 63

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6. Tottenham 58

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8. Arsenal 56

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10. Everton 50

11. Burnley 49

12. Crystal Palace 49

13. Newcastle 46

14. Southampton 44

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19. Aston Villa 32

20. Norwich City 29

 

 

 

 

 

 

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UAE Division Two

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Number of Chinese people in International City: Almost 50,000

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Our family matters legal consultant

 

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Updated: December 31, 2021, 7:04 PM