‘The world of Cat TV is more cut throat than you would ever imagine’ – inside the strange business of TV… for cats
Broker locks in lower tax rate June 21, 2010 CITY veteran Terry Smith has sidestepped an expected rise in capital gains tax (CGT) by restructuring the way he holds £40m of shares in Tullett Prebon and Collins Stewart. Smith, who has played a key role building up both companies, has transferred the shares to a trust of which he is the sole beneficiary. The move [...]
Osborne walks a tightrope June 21, 2010 THE coalition government will have to perform a delicate balancing act when the Budget is delivered today if it is to avoid a rebellion on the Tory or Liberal Democrat backbenches. Yesterday, sources close to Deputy Prime Minister Nick Clegg insisted the Budget would adhere to the party’s belief in “fairer taxation”, a pledge that [...]
What to look out for in the Budget June 21, 2010 THE ECONOMY/PUBLIC FINANCES • The newly-created interim Office for Budgetary Responsibility (OBR) released forecasts last week for growth and public borrowing. But these were based on the policy decisions of Alistair Darling’s Budget and are likely to change in response to moves made by the new chancellor. • Previously, the OBR said GDP?growth is expected [...]
Shed Media confirms bid discussions June 21, 2010 TELEVISION production company Shed Media yesterday confirmed it was in talks to sell itself to Warner Bros Entertainment, a unit of Hollywood media group and Sex in the City maker Time Warner. Shed Media’s shares closed the day up around 7 per cent at 83.6p. Time Warner plans to acquire Shed Media, the maker of [...]
Osborne set for painful budget June 20, 2010 ■ Chancellor to announce tax hikes and spending cuts ■ Ex-Labour minister appointed to review public sector pensions ■ Bank levy set to raise “considerably more” than £1bn THE chancellor will deliver the toughest Budget in almost 30 years tomorrow with a mixture of swingeing public spending cuts and painful tax hikes. Yesterday, he warned [...]
Redwood calls for a rethink on CGT hike June 20, 2010 JOHN Redwood, the Tory MP leading a Westminster campaign against government plans to raise capital gains tax (CGT), yesterday urged George Osborne to rethink the proposals, just hours before his first Budget as chancellor. “Let’s make a statement; let’s say Britain is open for business,” Redwood said. “We really want enterprise. If you want to [...]
Yuan un-pegging to lift markets before Budget June 20, 2010 News at the weekend that China is to ease the yuan’s peg to the US dollar will be a boost to stock markets everywhere this morning, in the expectation that the move would prove a major lift to exporters. FTSE SET TO OPEN HIGHER GFT is forecasting the UK’s FTSE 100 to open up 35 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 17, 2010 FINANCIAL TIMES UGANDA TAX ROW DELAYS HERITAGE SALE OF OIL FIELD Uganda is insisting that Heritage Oil, the UK-listed oil explorer, must agree to pay $360m (£243m) in capital gains tax on the “super profits” it will make on a $1.35bn oilfields sale before it will sanction the deal. Uganda’s energy minister said the government [...]
Lord Sugar warns rise in CGT would devastate enterprise June 17, 2010 ONE of the UK’s best known entrepreneurs yesterday spoke of the potentially “devastating” effects of the proposed capital gains tax (CGT) hike on levels of enterprise in the country. Lord Sugar, the Labour peer and Apprentice star, slammed the coalition’s plan to bring CGT into line with income tax, claiming the move would deincentivise those [...]
Budget fears focus on CGT and NI burden June 17, 2010 ENTREPRENEURS will be holding their breath as the new Chancellor delivers his first budget next week. Changes to capital gains tax (CGT), Vat and National Insurance are top concerns. On a positive note, some commentators believe that entrepreneurs have nothing to worry about. Alex Henderson, tax partner at PricewaterhouseCoopers, says that he is anticipating: “An [...]