Private equity deal activity bounces back in second half of 2020 February 1, 2021 Private equity activity in the UK bounced back in the second half of 2020, but the spring’s lockdown meant that the total number of deals fell to the lowest level in seven years. According to Big Four auditor KPMG, 889 deals were completed last year, with a total value of £87.2m. The figure is the [...]
Cut your bitcoin winnings – not your bitcoin losses January 22, 2021 Some people like to be losers all the time; nothing is ever good enough. If only, if only, they moan and whinge. Just my luck, just my luck. You know who I mean, the one who goes out to the petrol station to buy some Ginger Nuts and comes back with Digestives because there are [...]
UK announces inquiry into alleged corruption in British Virgin Islands January 18, 2021 The UK has launched an inquiry into claims of widespread corruption and misuse of taxpayer money on the British Virgin Islands. Foreign secretary Dominic Raab announced today that British Virgin Islands governor Augustus Jaspert had called for a federal investigation into a range of claims, including “political interference and coercion in relation to appointments in [...]
Taxman snoops on 18,000 phone records and web histories January 11, 2021 HMRC made 18,464 requests to access communications data like phone records and web histories to aid its criminal investigations in 2019, according to city law firm RPC. The total number of communication requests was up slightly on 2018’s 18,263 requests. The latest available data was from 2019. The taxman can request data held by telecoms [...]
Rishi Sunak calls for return to ‘sustainable finances’ ahead of March budget January 11, 2021 Rishi Sunak has reiterated the need to return to “sustainable” levels of government spending as he foreshadows future Budget cutbacks. Sunak told City A.M.’s The City View podcast in an exclusive interview that the Treasury’s £280bn Covid spending over the past year was “the right thing to do”, but that “over time” he had to [...]
Rishi Sunak to delay tax hikes until after March budget amid mutant virus strain January 9, 2021 The chancellor is reportedly expected to delay plans for tax rises until after his March budget as concerns rise over the huge economic impact of the pandemic, with cases of the new mutant strain of coronavirus spreading across the country. Rishi Sunak has previously warned that government debt built up during the crisis could become [...]
Buying newlyweds a crypto present is still the best gift January 8, 2021 In the recent past (I couldn’t tell you when exactly because the last ten months have destroyed my conception of time and my place on this planet), a good mate of mine got married. He is male and is called Adam and his wife is female, but not called Eve. He’s not your usual investor, [...]
Will Europe’s smaller companies deliver big returns? January 7, 2021 European equities have been largely unloved by investors for some time, having lagged their global peers over the past decade: the MSCI Europe ex UK Index has grown by circa 6% pa whilst the MSCI World Index is up circa 11% pa. European smaller companies have fared markedly better than their large cap counterparts however, [...]
Individuals rush to sell assets as capital gains tax bill rockets to £10.1bn December 23, 2020 The UK’s capital gains tax (CGT) bill has hit £10.1bn, up more than fourfold from £2.5bn a decade earlier, prompting people to sell their assets. Despite the increase of nearly £7.5bn in a decade, more CGT could be demanded from the taxpayer. The Office for Tax Simplification recently recommended the Chancellor increase CGT rates in [...]
UK companies are cheap: the smaller the cheaper December 11, 2020 UK stocks have lagged their global peers, but is the stage set for a change of fortune? Many investors in UK stocks have looked on enviously at the super-sized returns that global stocks, and US stocks in particular, have been able to deliver over recent years. That all changed this month. As of 18 November, [...]