A nature lover’s ultimate paradise April 15, 2012 How’ s the snorkelling?” I ask Christina as she emerges from the turquoise waters of Playa Cabo del Horno in San Cristobal. “Quite good,” she replies with a shrug. “I saw a sea turtle and a sea lion”. Christina, a rather po-faced Dane who’s been on the Galapagos a few weeks, is clearly not easily [...]
Government fails the moral code it is now demanding of taxpayers April 12, 2012 IT IS difficult to think of an issue that has generated more self-righteous moralising by politicians of all parties than the recent furore over “abusive” tax avoidance. Some of the pronouncements emanating from Westminster would lead one to believe that tax avoidance is one of the great crimes of our age. Except it’s not a [...]
Nanny can’t cure the UK’s alcohol price headache March 25, 2012 THE era of big, bossy, state interference, top-down lever pulling is coming to an end.” So said David Cameron in 2008. Of all the hostages to fortune politicians take in their years in opposition, this has the makings of a classic. It’s hard to believe that less than two years have passed since the bright-eyed [...]
Changes to the tax code should be driven by the broader theme of simplification March 20, 2012 HEAD OF TAX, ACCA THE loudest pre-Budget negotiations this year have been over changes to the tax system. Broadly, the Conservatives and Liberal Democrats have been having public disagreements over which taxes to cut – removing the temporary 50p rate for high earners and/or raising the personal allowance threshold to £10,000 – and how to [...]
The three frontrunners for France’s presidency will all lead down the wrong track March 14, 2012 THERE will be no winners in the French presidential election this April. One leading candidate is the unrepentant socialist Francois Hollande, who thinks 75 per cent is an optimal tax rate. The other is Nicolas Sarkozy, who has just managed to nudge himself into the lead with a desperate speech calling for two of the [...]
REACH for the SKIES February 16, 2012 THE meaning of value is hard to pin down. You’ve got perceived value versus actual value, for starters, and then the problem that one man’s tripe is another man’s caviar. One of the few things we can all agree on though, is that there is value in usefulness. Usefulness is reassuringly tangible. A car is [...]
Why we should speak out against moves to curtail the UK’s freedom of speech February 14, 2012 DAWN raids by police on the homes of reporters are not something we expect to happen in the UK. But that’s what happened last weekend, when the Metropolitan police sent teams of up to 10 officers to the homes of senior Sun journalists. Reactions were mixed. Brian Cathcart of the Hacked Off campaign, which has [...]
Freeing Abu Qatada showed that Europe is the new judge of Britain’s national security February 13, 2012 THE release on bail yesterday of the terror suspect Abu Qatada has generated headlines around the world. Once described by a Spanish judge as “Bin Laden’s right-hand man in Europe”, Qatada is wanted in a host of countries on serious charges. Our own courts and Home Office regard him as a direct threat to our [...]
Finance and marriage – should go together like a horse and carriage February 12, 2012 TAKING care to maximise income and capital gains tax allowances and reliefs may not seem like rocket science but over the years it can save a great deal of tax. In a world where “clever clever” tax mitigation is increasingly frowned upon there is a lot to be said for this low key approach. There [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 29, 2012 FINANCIAL TIMES DEUTSCHE BANK TARGETS FORCED SALES OF HEDGE FUNDS’ PROBLEM ASSETS Deutsche Bank is preparing to launch a fund to snap up investors’ illiquid or damaged holdings in hedge funds that have failed to recover since the financial crisis. The bank estimates that, three years after the collapse of Lehman Brothers, investors are sitting [...]