Budget 2015: What to watch out for today March 17, 2015 WHO: GEORGE OSBORNE WHEN: 12.30PM TODAY WHERE: HOUSE OF COMMONS WHAT WE ALREADY KNOW A further shake up of pensions Over 55-year-olds who had previously been forced to buy an annuity will be able to sell it for a lump cash sum to use as they wish, instead of receiving the regular payouts, building on reforms from [...]
No inheritance tax on homes worth less than £1m March 17, 2015 No one will have to pay inheritance tax on properties worth less than £1m, under plans being drawn up by the chancellor. Although the plans are unlikely to be announced as part of tomorrow's Budget, it's thought they'll be included in the Conservative manifesto. According to an "insider" who spoke to the Sunday Express, options [...]
Budget 2015: New pensions changes to allow savers to cash in annuities March 16, 2015 George Osborne’s crunch pre-election Budget will give savers who already own an annuity the power to cash it out. This new loosening of pensions rules builds on changes in last year’s Budget, and was confirmed by the Treasury yesterday. The Treasury says that it will give greater flexibility to five million pensioners who already own [...]
City Moves for 16 March 2015 | Who’s switching jobs March 16, 2015 Axa Assistance UK The assistance services firm has announced the appointment of Anthony Bradley as chief financial officer. He joined Axa Assistance UK in 2002, and has served as underwriting analyst, senior finance analyst, financial controller, and most recently as deputy chief financial officer. Covington & Burling The law firm has announced the appointment of [...]
Firms fear UK risks losing tax competitiveness March 10, 2015 BRITAIN’S tax system has become more competitive over the past five years, but moves to change the way international companies pay tax could undo some of that good work, analysts at EY said today. The professional services firm’s survey found that 68 per cent of businesses believe the tax system has become more competitive under [...]
British banks creep back toward sustainable profitability this year March 9, 2015 BANKS’ returns could start to exceed their cost of equity this year, analysts at EY said today. The study predicts returns on equity (ROE) will rise to an average of 9.5 per cent in 2015, exceeding the 9.1 per cent cost of equity. In the years before the financial crisis, UK banks regularly made double [...]
More spin-offs ahead as execs bullish on deals March 5, 2015 ONE IN two company executives believe corporate spin-offs will accelerate this year amid higher levels of corporate merger and acquisition activity, a survey has found. Just over half (54 per cent) of the executives polled by EY said strategic sales will rise this year, with unsolicited approaches from opportunistic buyers sparking the increase. Most executives [...]
City Moves for 06 March 2015 | Who’s switching jobs March 5, 2015 Dean Street Advisers Dean Street Advisers has announced that Evgenij Klenin is joining the firm. He previously worked at Arma Partners, where he focused on M&A transactions in the technology, media & telecommunications and aerospace & defence sectors. Savills The real estate firm has appointed Andrew Holden as director in its property management team. He [...]
UK economy is set to expand further in 2015 March 4, 2015 The UK’S growth outlook has been boosted by a strong survey of service sector firms. The purchasing managers’ index (PMI) published yesterday by Markit fell to a score 56.7 for February from January’s 57.2. Despite the drop, the figure is consistent with strong growth in the sector. A score above 50 signifies growth, with higher [...]
Seedrs co-founder Jeff Lynn talks risk, investor expectations and the future of crowdfunding March 4, 2015 In 2014, the fastest growing subsector of Britain’s alternative finance market was equity-based crowdfunding, according to figures from EY and the University of Cambridge. It grew by a whopping 420 per cent, with volumes totalling €111m (£80.5m). But such fast growth makes it increasingly vital that would-be investors have access to information about the industry. [...]