Wire
Man Group review of July
Markets in July were dominated by two major macro issues: US debt ceiling negotiations and Eurozone sovereign debt. Concern over these and other issues (soft economic data, monetary tightening fears in China) limited risk appetite and led to a ‘flight to safety’, in which “safe haven” assets benefited at the expense of equities
Mervyn King's Letter to George Osborne
If the CPI inflation target is missed by more than 1 per cent, the Governor of the Bank of England has to write to the Chancellor, explaining why. Here is his letter
B'berg: Credit Suisse likely to settle US investigation
Credit Suisse Group AG (CSGN), the Swiss bank facing possible U.S. indictment for aiding tax evasion, will likely settle with prosecutors by admitting wrongdoing and paying a penalty that may exceed $1 billion, tax lawyers said
US non-doms can offset £30,000 against tax bill
In a surprise concession to US non-doms in the UK, America’s Internal Revenue Service (IRS) announced on Thursday that the £30,000 flat-rate tax imposed on all UK non-doms can now be credited against their US tax bill
Warren Buffett: Tax Me More!
Warren Buffett has written an editorial for the New York Times asking for himself and his fellow billionaires to be taxed more. In a witty, self-deprecating piece, he says: 'My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.'
NYT: Swiss govt intervenes to weaken franc
GENEVA — Switzerland’s central bank moved unexpectedly Wednesday to ease the pressure on the Swiss economy caused by the super-strong franc, which has soared to record highs as debt crises buffet the United States and Europe
WBrief: Barclays Wealth profits down 7%
Barclays Wealth, part of UK-listed banking giant Barclays, said its pre-tax profits fell 7 per cent in the six months to 30 June to £88 million (around $143 million) compared with the same period a year ago
WBrief: UBS PB profits down 4%
Private banking at Credit Suisse reported a fall in pre-tax income of 4 per cent in the second quarter of 2011 from a year ago, standing at SFr843 million (around $1.05 billion)
Scorpio: Weath Managers Turn to Emerging Markets
Wealth managers are increasingly turning to emerging markets to generate investment returns for their HNW clients, a report conducted by Scorpio Partnership has revealed today.
Bloomberg: Soros closes hedge fund to outsiders, returns money
George Soros, the billionaire best known for breaking the Bank of England, is returning money to outside investors in his $25.5 billion firm, ending a career as hedge-fund manager that spanned more than four decades
Unbillable Hours
Our specialists solve your HNW problems (gratis!)
Q
Is it really possible to avoid stamp duty land tax when purchasing land and property?
A
A lot has been made recently in the press about buyers of some of the UK’s most expensive homes avoiding stamp duty land tax (SDLT) by purchasing their home through a company.
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