It’s time to abolish the 50p tax rate September 8, 2011 THERE are many reasons why the top 50p rate of tax should be axed. It sends a message that the UK doesn’t like successful people; it has made Britain less competitive in the race for talent and capital; and the job losses and reduced economic growth it will cause means that the overall revenue raised [...]
It’s time to abolish the 50p tax rate September 7, 2011 THERE are many reasons why the top 50p rate of tax should be axed. It sends a message that the UK doesn’t like successful people; it has made Britain less competitive in the race for talent and capital; and the job losses and reduced economic growth it will cause means that the overall revenue raised [...]
British tax probe after HSBC leak September 4, 2011 THE taxman is investigating the affairs of around 800 wealthy British HSBC clients who held money in Swiss bank accounts after their names appeared on a leaked computer disc. HM Revenue & Customs (HMRC) could raise hundreds of millions of pounds from the probes, which were launched after the details of 7,000 British clients were [...]
Government has lost £27.4bn in tax payments since 2006 August 24, 2011 HER MAJESTY’S Revenue and Customs has missed out on collecting £27.4bn in tax revenues thanks to reductions and write-offs over the last five years, according to research out today. Lost income tax alone accounts for a massive £4.4bn over five years, and the amount of this tax failing to make its way into the government [...]
Sisu Capital sees second annual loss as fee income falls August 14, 2011 JOY Seppala’s secretive hedge fund Sisu Capital posted a £434,000 net loss for the year to the end of March after being hit by a huge tax charge by HMRC, accounts show. Sisu Capital, co-founded 14 years ago by Seppala and business partner Dermot Coleman, posted a £272,300 loss before tax, slightly better than the [...]
Millions in Britain don’t have a pension August 10, 2011 RESEARCH undertaken by Baring Asset Management (Barings) released exclusively to City A.M. estimates that 13.6m, or 38 per cent of British adults, don’t have a pension. This is worrying, as pensions remain the best option for those looking to hang up their working boots before popping their clogs – and the sooner you start the [...]
Tories mull cutting 50p tax rate August 4, 2011 Chancellor George Osborne and senior Tories are considering cutting the 50p top rate of income tax once HMRC completes its review of the revenue the higher tax band brings in. Senior Tories are backing a cut in the rate to 45p, citing Treasury analysis showing that about 70 per cent of revenue would come from [...]
Taking Aim to pass on your wealth August 3, 2011 WRONGLY written off as too risky by many, investing in a managed Alternative Investment Market (Aim) portfolio can be a powerful weapon in the arsenal of avoiding paying more inheritance tax (IHT) than you need. APATHETIC ADULTS Investec has exclusively released the details of a new study to City A.M. that reveals just one in [...]
PERSONAL FINANCE NEWS August 3, 2011 INVESTORS TAKE A MEGA BITE OF APPLE Clients of Barclays Stockbrokers have named Apple their favourite technology stock. 57 per cent favoured Apple over other technology stocks, 11 per cent Google, while 10 per cent said they would be interested in investing in Facebook and Twitter if and when they float. Cisco Systems, the US [...]
Three ways to lower capital gains tax bills July 27, 2011 CAPITAL gains tax (CGT) soon adds up. Upon exceeding your allowance of £10,600, you will be charged either 18 per cent if a basic rate taxpayer, or 28 per cent CGT if a higher or additional rate taxpayer. There are a number of ways in which you can mitigate the pain from this second and [...]