General Election: David Cameron promises to stop tax increases with new law April 29, 2015 If the Conservatives are voted in at the General Election, David Cameron has promised to introduce a new law that would prevent tax increases for five years. During a speech today, he said Britons should be allowed to keep hold of what they earn, and that they have paid “enough tax”. "It's time for [...]
David Cameron’s tax freeze pledge: Tories will not raise income tax, National Insurance, or VAT April 28, 2015 The Conservative party will today pledge a cast-iron guarantee that it will not raise the rates of income tax, National Insurance (NI) or VAT during the next parliament, should David Cameron be returned to Downing Street. A law preventing any increase in the three taxes – which account for over 60 per cent of tax [...]
UK’s big four banks face £19bn more in conduct fines April 27, 2015 Legal and compensation payouts are set to cost the big four UK banks another £19bn over 2015 and 2016, analysts at credit ratings agency Standard and Poor’s said yesterday. Mounting bills come on top of the £42bn the four have already paid out over the past five years. The next nine largest lenders paid a further £6bn [...]
BHS hires 250 new staff in food retail push amid withheld credit insurance rumours April 27, 2015 BHS announced its intention to take on 250 staff yesterday, and denied rumours its suppliers were seeing their credit insurance withheld. The struggling department store is hiring the extra staff as it seeks to expand into food retail following a successful trial in its Romford, Staines and Warrington stores. BHS has signed a contract with [...]
The future is now: Investors spotting futuristic themes have been able to get ahead April 23, 2015 THEMATIC INVESTING Most savvy investors have a portion of their portfolio given over to emerging markets. Investors have revelled in the future potential of these economies, with their rapid pace of urbanisation and their burgeoning young populations. Whether you know it or not, investing in the future of emerging markets is a form of [...]
City Moves for 22 April 2015 | Who’s switching jobs April 21, 2015 HFG The specialist insurance recruiter has appointed Stewart Taylor as head of business and market development. He was founder of insurance search firm Hermes People, and also previously spent 10 years at McGregor Boyall as director of its banking and capital markets division. BDO Nicole Martin has been appointed audit partner in the accountancy and [...]
Barclays U-turn on account fees: Bank will pay customers £4 a month as competition hots up April 14, 2015 Barclays will offer to pay current account customers from next week, intensifying the battle sweeping the high street since the seven-day switching service made it easier to move banks 18 months ago. The bank has been losing customers to rivals through the seven-day service, as other lenders have won clients by offering financial rewards. Barclays’ [...]
City Moves for 15 April 2015 | Who’s switching jobs April 14, 2015 Hastings Insurance The insurance firm has announced the appointment of Richard Hoskins as its group chief financial officer. He joins from AIG, where he was chief financial officer of its global commercial insurance business and the Americas region. Hoskins has also held roles at Aviva Group. Euler Hermes UK The credit insurance firm has appointed [...]
General Election 2015: The 10 key points of Labour’s “pro-business” manifesto April 13, 2015 Labour has launched its manifesto ahead of the General Election on May 7 – and the party has chosen to go toe-to-toe with the Conservatives on the economy. Ed Miliband promised Labour was "pro-business, not pro-business as usual". Some of the policies have been formulated to directly appeal to the business community – but others [...]
PwC tells HMRC to pay up 10 years after MG Rover collapse, claiming £56m in overpaid VAT April 8, 2015 PwC is tapping HMRC up for £56m in overpaid VAT, 10 years to the day that the car giant entered administration. The financial services firm, which handled MG Rover's administration and subsequent liquidation, is claiming the taxman received excess payments on vehicles manufactured by the Midlands-based group and supplied to fleet operators “dating back a [...]