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 [...]
Tax issues prompt 26pc of large firms to consider leaving the UK July 17, 2011 OVER a quarter (26 per cent) of large businesses are considering a full or part relocation abroad, with Britain’s high and complex taxes remaining their main cause for complaint. More than half (58 per cent) of the businesses eyeing a move to foreign shores cited tax issues as a leading factor, according to research by [...]
Britain needs its own Ronald Reagan July 5, 2011 HERO-WORSHIP is always a mistake. No statesman is perfect: all make mistakes. But Ronald Reagan – of whom a statue was unveiled in Grosvenor Square yesterday – was one of the few major figures of the 20th century to leave their country in a hugely better state than they inherited it. He helped America regain [...]
Britain needs its own Ronald Reagan July 4, 2011 HERO-WORSHIP is always a mistake. No statesman is perfect: all make mistakes. But Ronald Reagan – of whom a statue was unveiled in Grosvenor Square yesterday – was one of the few major figures of the 20th century to leave their country in a hugely better state than they inherited it. He helped America regain [...]
New rules on foreign profit could anger EU June 30, 2011 PLANS to overhaul the way the foreign profits of UK headquartered multinational companies are taxed could fall foul of European law, according to a top legal firm. The existing Controlled Foreign Companies (CFC) regime currently breaks EU law, following a landmark 2006 case involving Cadbury Schweppes. At that time, the European Commission said the British government [...]