Thousands could face ‘huge’ tax bills for failing to report pensions growth November 26, 2019 Thousands of pension scheme members could face large tax bills for failing to report pensions growth on their tax returns. HMRC said today it was aware some individuals have not reported exceeding the annual allowance for pensions contributions, which currently stands at £40,000. Read more: Exclusive: Pensions minister demands simpler workplace pension statements “This admission [...]
What are mini-bonds? Everything you need to know about the products hit by the FCA’s marketing ban November 26, 2019 The Financial Conduct Authority (FCA) today announced it is using its special powers to ban the marketing of some unregulated mini-bonds to individual investors. Mini-bonds have come under scrutiny since the collapse of lender London Capital & Finance (LCF) earlier this year, but what exactly are the controversial investment products, and what has the FCA [...]
Troubled burrito bond chain Chilango postpones AGM amid questions over future November 26, 2019 Chilango has postponed its annual general meeting (AGM) amid continued questions over the burrito chain’s future, City A.M. can reveal. The Mexican restaurant group is in talks with restructuring firm RSM to secure its long-term future, and is almost eight weeks late posting its accounts to Companies House. Read more: FCA to ban marketing of [...]
Broker Finncap reports jump in first half turnover thanks to M&A boost November 25, 2019 Finncap has reported a jump in turnover for the first half amid “very testing market conditions”, with the broker boosted by strong performance of its M&A division. The figures The company reported a jump in turnover of just over 56 per cent in the six months to 30 September. Turnover hit £14.2m during the period, [...]
Profit dips as Polar Capital suffers £448m outflows November 25, 2019 Polar Capital has reported a drop in pre-tax profit following a “challenging” first half, but its assets under management (AUM) rose despite £448m net outflows. The figures The investment manager said its AUM hit £14.3bn as of 30 September, a 3.6 per cent increase on the £13.8bn it reported at the end of March. Polar [...]
Man hit by Tube at Oxford Circus suffered ‘extensive’ injuries November 25, 2019 A commuter who fell in front of a Tube train at Oxford Circus last week suffered “extensive” injuries and is still in intensive care but is no longer on life support, his family have said. The 25-year-old man suffered a medical episode and fell in front of an incoming train at 5.30pm on Wednesday, British [...]
Weakest UK tech sector growth since 2015 amid slowdown in demand November 25, 2019 The UK’s tech sector grew at the slowest rate in almost four years in the third quarter as a global economic slowdown and domestic political uncertainty dented the industry, new research shows. The tech sector was hit by a downturn in new work for the first time since 2012 during the three months to 30 [...]
Investment in London offices slows as demand outpaces supply November 25, 2019 Investment in London’s office market is falling despite growing demand from British and overseas investors, as a lack of available stock continues to hamper the sector. Total turnover for office investments in the capital in 2019 is set to drop well below the figure for the previous year, according to new data from Knight Frank, [...]
Former boss launches legal action against struggling tech firm Ve Global November 24, 2019 The former head of Ve Global has launched a legal claim against the embattled tech company over a missed payment. David Marrinan-Hayes has lodged a winding-up petition against Ve Global over the company’s failure to pay a settlement linked to his departure in March, the Sunday Times reported. Read more: Interest in UK tech jobs [...]
Mitie sues Ministry of Justice over court cleaning contract November 24, 2019 Mitie is suing the Ministry of Justice over what is claims was a botched tendering process for a contract to clean and repair courts and tribunal buildings. The outsourcing giant has lodged a High Court claim after losing the contract to French rival Engie last month. Read more: Mitie’s clients hold back on spending until [...]
