Tullow Oil agrees $250m settlement to wrap up Ugandan tax dispute June 22, 2015 Tullow Oil will pay the Ugandan government a $250m (£158m) settlement, bringing to an end a two year dispute over capital gains tax. The London-listed company has already paid $142m, and the remaining $108m is being paid in three separate $36m installments, one of which has already been paid. The total sum will be fully [...]
SNP calls for full fiscal autonomy for Scotland but Tory minister slams it as a “shambles” June 16, 2015 The SNP is using its newly acquired Westminster clout to push for more powers to be devolved to Scotland. The party, which is now the third largest in Parliament, has sent a letter to the government's Scottish secretary David Mundell calling for more Holyrood powers. Under its plans, Scotland would be able to control corporation tax, capital [...]
How entrepreneurs can secure their legacy – Investec Comment June 7, 2015 When a founder has been in the driving seat of a business for many years, it can often be difficult to relinquish control: either passing the company onto the next generation or selling up entirely to move on to another venture. But business owners also face another dilemma, particularly when selling part or all of [...]
Johnson Matthey bottom line lifted by benign UK tax regime June 5, 2015 Sustainable tech firm Johnson Matthey said its annual results were in line with expectations yesterday as falling revenues failed to stop growth at the bottom line. The UK-based company, which is the world’s largest of autocatalysts, reported strong growth in sales of its emission control technologies and processing technologies. However, these gains were offset by weak [...]
Disposable income soars in London and Scotland – at the expense of north England May 28, 2015 People living in London and Scotland have experienced the biggest rise in their disposable income over the course of the twenty-first century – at the expense of the north of England. Disposable income in the capital rose faster than in any other part of the country, growing 75 per cent between 2000 and 2013. Scotland [...]
British Land profits lifted by lucrative London property market May 14, 2015 The figures: British Land said that underlying profit before tax rose 5.4 per cent to £313m for this financial year, up from £297m a year earlier. Diluted underlying earnings per share rose 4.1 per cent to 30.6p, an increase from 29.4p in 2014. The developer's total portfolio valuation rose by 12.1 per cent to £13.63bn. This was [...]
Tax-and-spend plans: What to expect from the new Tory Treasury May 10, 2015 With the Conservative party winning a majority and George Osborne returning to his position as chancellor of the exchequer, the UK now faces another five years of Tory-led tax-and-spend plans. But without the competing visions of coalition partners, how will this Tory Treasury be different from that of the last government? When looking for answers, [...]
General Election 2015: WPP founder Sir Martin Sorrell wants a UK version of the Chinese Five Year Plan and an acknowledgement that immigration benefits the economy May 5, 2015 ELECTION COUNTDOWN: 1 DAY TO GO We have been asking a business leader each day to say what policies would entice them to vote for a particular party. SIR MARTIN SORRELL: FOUNDER AND CHIEF EXECUTIVE OF WPP 1. Articulate a practical overall economic plan covering, among other things, education, infrastructure investment (hard [...]
At home and abroad: Global numbers that matter and key election pledges April 23, 2015 From interest rate cuts and capital flight, to plunging currencies and growth wobbles, we highlight the numbers that matter this month KEY ELECTION PLEDGES THE CONSERVATIVES WILL… Raise the level at which people start paying income tax to £12,500 a year, from £10,600, and introduce a law to ensure no one on the [...]
An Isa revolution: Why the savings and investment vehicle is now more powerful than ever before April 23, 2015 Nearly 14m new Isas were opened in 2013-14. According to the recent BlackRock Investor Pulse Survey, the 16 year-old savings vehicle is used by over a quarter of Britons to build up their longterm wealth, and by nearly 40 per cent to provide a rainy day fund for life events. And the government’s revolution in [...]