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 [...]
Autumn Statement 2014 predictions: What to watch out for December 2, 2014 WHO: GEORGE OSBORNE WHEN: 12.30 TODAY WHERE: HOUSE OF COMMONS WHAT WE ALREADY KNOW £2bn cash injection for NHS The NHS will receive an extra £2bn in funding, £1.3bn from departmental savings and £700k from the existing health budget. There will also be a £15m dementia fund £2.3bn for flood defences Extra money for [...]
Autumn Statement 2014 round-up: What we know and what to expect December 2, 2014 It is well known that chancellors use their autumn statements to win favor with the electorate and set a policy minefield for the opposition, and this year is shaping up to be no exception. Ever the strategist, George Osborne will look to announce measures to win over key voters and promote the government's message on [...]
“All in this together” takes a back seat as “long term economic plan” and immigration top odds on Osborne’s most likely Autumn Statement phrases December 1, 2014 Are we all in this together? Not any more. The phrase beloved by Cameron and Co has fallen to its longest odds yet when it comes to the likelihood of it appearing in this year’s Autumn Statement at 4/1. It looks like the Conservatives' long-term economic plan is still on track, though, with Ladbrokes giving [...]
Autumn Statement 2014: George Osborne could pull a small rabbit out of the hat November 30, 2014 STAMP DUTY George Osborne could choose to reform stamp duty on Wednesday – a crowd-pleasing policy that wouldn’t have to hit Treasury coffers hard. The most likely option for the chancellor would be to change the slab-like structure of the tax by only charging a higher rate on the amount spent over each threshold, rather [...]