General Election 2015: How MPs stepping down at this election could make millions on their second homes March 25, 2015 Exclusive: On 30 March when parliament is dissolved, as the majority of MPs will gear up to embark on the toughest part of their election campaigns, some will bid farewell to the Commons for the last time as they step down from public life. But among the 77 MPs leaving office, many will be left [...]
Profits crumble 63 per cent at investment firm SVG Capital March 23, 2015 INVESTMENT manager SVG Capital’s distributions soared in 2014 despite slow growth, the firm said yesterday. SVG offered shareholders a company record of £330m in distributions for the year, up over £25m since 2013. SVG’s partial selldown of Hugo Boss shares and selling of ProSiebenSat.1 Media contributed to the gains. However, SVG’s 2014 pre-tax profit of [...]
Startup-friendly? What George Osborne’s Budget means for entrepreneurs March 22, 2015 Small businesses favour certainty over circus tricks, and the announcements made in last week’s Budget have received a generally positive response from entrepreneurs that I have spoken to – especially in the context of a growing economy. FOR THE ENTREPRENEUR Many will be happy that Entrepreneur’s Relief remained largely unchanged, providing a 10 per cent [...]
Budget 2015: Here are George Osborne’s best quotes plus his Budget speech in full March 18, 2015 George Osborne's final Budget during this parliament had few surprises but plenty of great quips, including – to the dismay of bookies everywhere – a quip about Ed Miliband's now-infamous second kitchen. Here's a selection of our favourites from today's big speech. (Source: Getty/City A.M.) (Source: Getty/City A.M) (Source: Getty/City A.M.) [...]
FTSE rises ahead of Osborne’s pre-poll Budget – London Report March 17, 2015 BRITAIN’S top share index edged higher yesterday to extend a recent rebound from last week’s lows, with gains coming in ahead of key policy announcements from the UK and the US. The FTSE 100 rose 0.5 per cent to 6,837.61 points, as shares of natural-resources producers ticked up and utilities pushed higher, led by a [...]
Britons who let or sold second homes in France to be paid back millions of pounds following EU court ruling March 12, 2015 British people who own property in France will be eligible for reimbursement of money paid out as taxes following the introduction of a “social charge” by French President Francois Hollande in 2012. The charge meant that around 200,000 non-resident Britons who sold or let second homes in France had to pay an extra 15.5 per [...]
London’s safe haven status at risk as election uncertainty and mansion tax threat deter super-rich March 4, 2015 Political uncertainty and the threat of a potential mansion tax on £2m-plus homes is threatening London’s status as the top destination for the world’s super-rich, property consultancy Knight Frank warned. The firm’s annual Wealth Report released today shows London was home to 4,364 ultra high net worth individuals (UHNWIs) – those with $30m (£19.65m) in [...]
Equipment hire firm upgrades profit forecast March 3, 2015 EQUIPMENT rental firm Ashtead, upgraded its full year profit forecasts yesterday following strong results for the nine months ending 31 January. The British company saw strong growth in its Sunbelt division which benefited from the improved US housing market, an area where the subsidiary gained market share. The company has committed to £783m in capital [...]
The North Sea is drowning in tax: Only radical action will salvage UK oil now March 2, 2015 Following his comments at the recent opening of the OECD’s Economic Survey, it is to be hoped that the chancellor gives North Sea oil companies, their shareholders, and their employees enough reason to cheer when he announces the Budget on 18 March. He recognised that the oil and gas industry is a vital national asset [...]
India primes economy as Narendra Modi’s government lays out pro-growth budget March 1, 2015 Business gave a cautious welcome to the Indian government’s landmark budget yesterday, highlighting its bid to unify the country’s fragmented markets and boost growth through tax cuts and infrastructure investment. “It delivered on all counts. The Prime Minister set out a vision and the budget lays it out as a roadmap,” Karan Chanana told City [...]