Republicans slam Obama’s tax proposals January 18, 2015 US PRESIDENT Barack Obama’s plans for new taxes on the wealthy and on Wall Street banks were met with fierce criticism from the Republicans yesterday, signalling the challenges facing any attempt to shake-up the US tax code. Obama will use his State of the Union address tomorrow to propose a raft of new measures aimed [...]
EU referendum greater risk to London’s property market than General Election uncertainty, says KPMG January 12, 2015 A referendum on Britain's EU membership could herald bad news for London's high-flying property market, new research has found. David Cameron has promised to renegotiate Britain's membership of the EU and put the result to the people by 2017. But if Brits vote to leave, the capital's property market could suffer in the aftermath, big [...]
Staying tax savvy: What you can do before the year ends January 6, 2015 A focus on capital gains tax may well mean a better deal. With the new year having firmly arrived, and the end of the tax year just three months away, now is an ideal time to blow the cobwebs away and ensure your money is working as hard as possible – by getting your [...]
Maximising your tax efficiency is vital – but beware sneaky fees January 6, 2015 IT’S A new year and, in the financial world, our thoughts are turning to the next big milestone – the end of the tax year. Running from 6 April every year, an arbitrary date, the “TYE” has a history packed with calendar blunders and political-religious significance. Aside from the guts and the glory, it also [...]
Greek economy in limbo after failed election bid December 17, 2014 Greece’s economic stability was put in serious doubt last night as the ruling New Democracy party failed in its first attempt to have its presidential candidate elected. A failure to eventually do so will put at risk Greece’s negotiations with the IMF over an extension of its bailout loan. The ruling party’s candidate Stavros Dimas [...]
Boris Johnson risks US fine or jail over failure to pay American capital gains tax on London property December 14, 2014 Boris Johnson risks a hefty fine or even a spell in jail if he fails to pay American capital gains tax on a London property he sold in 2009, a leading US tax specialist has told City A.M.. Johnson, who was born in New York and holds an American passport, revealed last month he was [...]
Oil price hits a five-year low: What does this mean for markets? December 8, 2014 Equities could see a lift, but it’s bad news for oil exporters Looking ahead to 2015, there’s plenty for markets to fret about. Rate hikes in the UK and US are a near certainty – after years of extraordinary monetary stimulus that propped up asset prices and kept sovereign bond yields low – as are [...]
Autumn Statement 2014: George Osborne hits banks to help home buyers December 3, 2014 Chancellor plays Robin Hood by grabbing from the wealthy to fund stamp duty sweetener for those lower down property ladder. THE UK ECONOMIC OUTLOOK ● The UK’s economic growth has outperformed the March forecast of the Office for Budget Responsibility (OBR), giving Britain the fastest growth rate in the G7. ● Unemployment has fallen [...]
Fund firms in crosshairs of clampdown December 3, 2014 FUND management partnerships will be blocked from reducing the tax they pay on management fee income from next April, as part of a broader crackdown on income tax avoidance. Private equity firms and other alternative asset managers often pay capital gains tax on their management fee income rather than income tax, which is higher and [...]
New measures offer boost to small business December 3, 2014 THE UK’s small businesses and entrepreneurs were heartened yesterday after a series of policy measures were announced aimed at providing them with better access to funding and investment support. In the Autumn statement yesterday, the chancellor announced the government would provide further funding for the Enterprise Finance Guarantee to facilitate up to £500m of new [...]