WHO’S SWITCHING JOBS April 26, 2012 Avoca Capital The European credit investment manager has appointed Stephen Holland as director of sales and marketing. Holland will spearhead Avoca’s growth in North America. Most recently he was business development manager for Abbey Capital, a Dublin-based hedge fund. He has also served as head of sales for Bank of Ireland Asset Management. BlackRock The [...]
HMRC cost cutting scheme loses taxman over £800m March 20, 2012 A REVENUE and Customs (HMRC) programme designed to increase revenues and cut costs ended up costing the taxman over £800m as cash-generating compliance officers were sacked. The programme, which ran from 2006 to 2011, found the tax-raising body reduced its headcount by 3,387 by 2008-9, saving £116m per year. However, those staff cuts meant HMRC [...]
Charities to lose out after Osborne’s tax relief raid April 10, 2012 CHARITIES and tax lawyers attacked George Osborne’s plans to limit tax relief on donations yesterday, calling the move “heavy handed” and “perverse.” Relief will be limited to the income tax paid on the first £50,000 of a donor’s earnings or 25 per cent of their income, reducing incentives to give to charities. “As a result [...]
Charities to lose out after Osborne’s tax relief raid April 10, 2012 CHARITIES and tax lawyers attacked George Osborne’s plans to limit tax relief on donations yesterday, calling the move “heavy handed” and “perverse.” Relief will be limited to the income tax paid on the first £50,000 of a donor’s earnings or 25 per cent of their income, reducing incentives to give to charities. “As a result [...]
CITY MOVES | WHO’S SWITCHING JOBS March 4, 2012 Grosvenor Group Michael McLintock has been appointed as a non-executive director of the privately-owned international property group, effective immediately. Chief executive of M&G since 1997, five years after joining the investment firm, McLintock oversaw the sale of M&G to Prudential in 1999 and joined the latter’s board the following year. Already a trustee of the [...]
Lawyers: Removing pension tax relief will hit savers twice March 7, 2012 LAWYERS and pension funds yesterday hit out at proposals to remove tax relief from high-earners’ pension contributions, arguing it would be unfair and overly complicated. Removing the relief on employee contributions for those earning over £150,000 a year could be a tempting move for the government, raising around £8bn per year for the Treasury. However, [...]
Tax experts bash Lib Dem pensions talk February 12, 2012 CUTTING tax relief on pension contributions for higher-rate tax payers risks unfairly over-taxing savers, and sends out the wrong signals about how Britain treats successful workers, experts at accountancy firm Baker Tilly warned yesterday. Chief secretary to the Treasury Danny Alexander has suggested top-rate taxpayers could lose half of the tax relief on their pension [...]
Truth about banker pay: It’s falling February 5, 2012 BRITISH investment bankers are braced for deep slashes to their pay packets after a slowdown in trading saw their US rivals cut bonuses by up to 30 per cent. Industry insiders say that UK bankers are looking at a pay cut of 20-50 per cent – in addition to thousands in job cuts – contrary [...]
Sorrell: Britain must do more to get WPP back December 6, 2011 BRITAIN has not yet gone far enough to lure WPP back to London, Sir Martin Sorrell told City A.M. yesterday. Chancellor George Osborne has staked a large part of his business-friendly credentials on Sir Martin’s signal that his marketing firm WPP will come home in light of reforms to UK taxes on profits made abroad. [...]
CITY MOVES | WHO’S SWITCHING JOBS November 7, 2011 RFC Group John Harrison, who retired as a managing director of Numis Securities last month, has been named as chairman of Ambrian Partners, subject to completion of RFC’s acquisition of 100 per cent of Ambrian’s share capital. Harrison joined Numis in 1994 following a career at Lloyd’s of London. Since 2003, he has led the [...]