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Davies slow cure for reform “bungles”

FSA chairman Howard Davies says Europe should be aware of “hasty and bungled” reform of financial regulation.

Speaking in Brussells he said Europe&#39s top priority should be overhauling the legislative framework for the financial services industry.

He said that until there is a common European legal system implementation and enforcement should take place at member state level.

Davies accepted regulation in Europe would have to be “more joined up” in five years time, but argued this would be better done in groups.


Stamp Duty

A number of changes to stamp duty were announced, the most important of which are as follows:- STAMP DUTY RATESThe rates of Stamp Duty on transfers of property (excluding shares) for more than £250,000 will be increased.The new rates will be:■ 3 per cent where the price is more than £250,000 but not over £500,000;■ […]

Extra Discount for Employers Paying Tax Credits

An extra £50 discount for small employers paying Working Families&#39 Tax Credit and Disabled Person&#39s Tax Credit to their employees has been announced in the Budget. Small employers with tax credit cases in 2000/2001 who file their PAYE end of year returns over the Internet and pay any tax due electronically will receive the discount. […]

Loanback opportunity from capital allowances

For small and medium sized companies first year capital allowances on the purchase of plant and machinery at the rate of 40% are now permanently available. Small companies will also benefit from 100% first year allowances for investment in Information and Computer Technology equipment (computers, software and internet-friendly mobile phones) are available. Companies with SSASs […]

Capital Allowances

The Chancellor has announced that the enhanced 40% first year capital allowance first announced in his 1997 Budget will be made permanent for all small and medium sized businesses. It is estimated that more than 99 per cent of all businesses will qualify. The aim of the increased first year allowance is to help a […]

Greece: the sideshow continues

Artemis managers James Foster, Mark Page and Laurent Millet comment on the Greek deal, describing it as “just another fudge” getting in the way of bigger developments in China, the UK and the US. To read the full article click here.


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