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HMRC takes bank bonus appeal to Supreme Court

The UK’s highest court is to hear an appeal by HMRC over two offshore schemes used by banks to shield staff payments from tax. The tax office will attempt to convince the Supreme Court that UBS and Deutsche Bank used the schemes to avoid tax in 2003 and 2004, the FT reports. Employees received shares […]

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Hermes poaches Aviva exec for real estate arm

Hermes Investment Management has appointed Aviva’s head of European retail funds, Philip Nell, as fund director for the company’s real estate unit, Hermes Real Estate. He will join the £6bn real estate arm on 20 July and report to to Hermes Real Estate chief executive Chris Taylor. Nell will also work as fund manager of the UK Private Rental […]

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Mark Dampier: Going against the grain

With stock markets reaching new highs, many financial commentators share a common belief – global economies are on the road to recovery. Newton’s view of the world, however, is very different. For them, the upturn has been driven by government and central bank policy across the globe, rather than from any real economic recovery. They […]

Labour won’t pursue heavy-handed regulation

A Labour government would avoid heavy-handed regulation, according to shadow chancellor Ed Balls, despite plans for a bank bonus tax and to raise the top rate of income tax. Speaking to the Financial Times, Balls said that Labour would seek to institute a 50p income tax rate throughout the next parliament, but would also seek […]

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