Directors slam politicians for tax loopholes December 3, 2012 POLITICIANS should target tax avoidance by getting rid of legal loopholes, not browbeating firms into paying more, the Institute of Directors (IoD) said this morning. “It is very frustrating for many companies who pay large tax bills that some multinationals are able to avoid doing so,” said IoD boss Simon Walker. “The solution must be simplifying the [...]
Rapid responses December 3, 2012 Capital gains [Re: Osborne must now face up to his fiscal failings, yesterday] As the chief executive of a UK-based small-to-medium sized business (SMB), I urge George Osborne to lay out a clear plan that would support business over the long term, and therefore kick start Britain’s economy. SMBs account for the vast majority of private [...]
Stock markets call for slashed capital levies December 2, 2012 THE government must slash capital gains and abolish stamp duty on AIM trades in its Autumn Statement, the London Stock Exchange demanded yesterday, in order to boost growth among small and medium enterprises. Cutting capital gains tax to 10 per cent, from the 18 or 28 per cent it currently stands at, combined with completely [...]
How to plan for the Autumn Statement December 2, 2012 WITH so much focus on tax in the past few months, it would be no surprise if this week’s Autumn Statement sets taxpayers up for a long and cold winter. Its contents are as yet unknown, and George Osborne has vowed to keep his silence ahead of Wednesday’s Statement. That, however, should not prevent taxpayers [...]
Responding to the threat of cuts to pension tax relief December 2, 2012 AS GEORGE Osborne prepares for his much-anticipated Autumn Statement, rumours abound that he will cut pensions tax relief for higher-rate earners. The Chancellor is coming under increasing pressure to meet his debt targets during a time of sluggish economic growth and high public spending levels. And pensions are a likely subject for tinkering now that [...]
New broom Mark Carney has a lot of paperwork to sweep up November 28, 2012 FROM the forthcoming report of the Parliamentary Commission on Banking Standards to a possible resignation letter from Paul Tucker: Mark Carney has an unenviable reading list before he sets foot in Threadneedle Street as the new Governor of the Bank of England. If he wants a genuine cold-towel moment ahead of his arrival, however, he [...]
Fiscal cliff fears send Wall St shares diving November 27, 2012 US stocks slid yesterday in a choppy session, losing ground in the last hour before the close after Senate Majority Leader Harry Reid expressed disappointment that there has been “little progress” in dealing with the fiscal cliff. The market was flat for most of the session but fell sharply after Reid’s comments, a signal that [...]
Who qualifies for investment relief November 25, 2012 THE Seed Enterprise Investment Scheme (SEIS) was launched without much fanfare in April this year. Designed to help early-stage companies raise equity finance, it offers tax relief to investors, with the aim of offsetting the reticence some feel about staking their money on a high-risk venture. Not all small companies qualify, however. Firms must have [...]
Trust a trust to protect your child’s education November 25, 2012 SINCE 2002, private school fees have risen at 1.8 times the rate of inflation. The average cost today is £11,500 per year, up from £6,800 in 2002. Private education is becoming more of a luxury, and it may be a good idea to find a more innovative solution than relying on your Christmas bonus. A [...]
A technology revolution is empowering investors November 25, 2012 EXECUTIVE CHAIRMAN, GEKKO INVESTMENT platforms came about because switched-on providers realised that the more choice investors were given, and the more they understood the wisdom of diversifying their investments, something needed to be done to simplify the whole investment process. More choice and greater diversification meant investors had to deal with a host of detailed [...]