AJ Bell says Budget jitters are causing investors to pull pension money October 17, 2024 AJ Bell has warned uncertainty around Rachel Reeves’s Budget this month is causing investors to pull pension money from its platform and hold off contributing to their retirement pots. In a trading update for its financial year to September, the FTSE 250 firm said it had seen an acceleration of cash exiting the platform amid [...]
AIM: Companies fear generational damage if Reeves scraps tax relief October 17, 2024 London’s markets have become a “burning platform” for smaller companies and the pain will be compounded if the Chancellor scraps inheritance tax relief for shares on London’s AIM exchange, City bosses have warned today. Ahead of the budget on October 30, a group of AIM listed companies and City think tank New Financial have added [...]
Mark Kleinman: Labour’s economic plan remains a £63bn question October 17, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City A.M. column. This week he tackles big questions for Labour, pragmatism in the City and the building-blocks of a takeover Labour’s economic plan remains a £63bn question So there we have it: £63bn. Not bad [...]
‘Broken’ inheritance tax ripe for reform at Budget, think tank says October 17, 2024 The government must reform the UK’s “broken inheritance tax system”, a respected think tank has urged, after fresh research found uncapped exemptions in the current framework means a quarter of estates worth over £10m pay a rate of just nine per cent. The Centre for Analysis of Taxation (CenTax) paper, published on Thursday, revealed the [...]
The Capitalist: Guildhall’s gossip police on patrol as M&S boss skips Investment Summit October 17, 2024 Dispatches from Labour's Investment Summit, M&S's CEO's big night out and hijinks at Cheltenham: catch up on City gossip in The Capitalist.
An unexpected side effect of non-dom rule changes? Divorce October 17, 2024 Much has been said on the financial implications of non-doms leaving the country due to punitive taxes, but less attentions has been paid to the personal and family consequences of such moves, says Cara Nutall Prime Minister Keir Starmer has stated that “painful” decisions are unavoidable to repair the UK’s economic damage and has asked [...]
Here’s how Reeves could use the Budget to incentivise investment October 17, 2024 As well as balancing the books, Rachel Reeves should use the Budget to help businesses recapture their joie de vivre, says Claire Blackburn The new government’s first Autumn Budget on 30 October is arguably the most anticipated fiscal event in recent memory. Balancing the books will be a top priority and the £22bn hole in [...]
Concern for British high street as sector set for four-fold tax rise in April October 16, 2024 The double effect of inflation-linked tax bumps, as well as the end of business rate relief for consumer-facing firms, will lead to a four-fold tax increase for high street businesses next April, industry bodies have warned. Industry leaders across the board have been increasingly vocal about the need for reform to business rate taxes, and have [...]
UK fintech stars warn capital gains tax hike could force them to relocate October 16, 2024 Prominent UK fintech founders have warned the new government that hiking capital gains tax risks forcing them out of the country, with nearly half already mulling relocation.
Brewdog: James Watt ‘frustrated’ as brewer loses almost £60m October 16, 2024 Brewdog remains in the red despite a sharp uplift in its sales during its latest financial year, founder James Watt has revealed. In a post on social media, the former CEO said the Aberdeenshire-based business increased its revenue by 14 per cent to £366m in 2023. He added that it cut its operating loss to [...]