A Privatisation and how not to do it? Well, recently we had Lord Myners’ report on the Royal Mail flotation, and, along with it, some targeted criticism at the structure, process and net result of it all. Seemingly it could have netted a further £180m for the tax payer and whilst not a lot of money it should not be ignored; though it is a mere drop in the budgets of the Treasury. (more…)
The third quarter of 2013 held plenty of mayhem and emotion. It began with an overthrow of Egypt’s democratically-elected government and ended with the United States government at risk of defaulting on Treasury and government obligations. In between:
At last some viable and acceptable competition for the loan sharks (those who are politely known as ‘pay day loan companies’). These bottom feeders that prey on the weakest in society are designed to make handsome profits out of usury. They have been allowed by a weak and pathetic government to get away with charging eye watering rates for short term loans aimed mostly at those least able to manage them. Such exposed people do not need more paraffin to enflame a fire; they need help to put the fire out.
For Seed Enterprise Investment Schemes (SEIS), the CGT reinvestment relief continues for 2013/14, but for only half the reinvested gain. Therefore, the maximum tax relief for SEIS investment will in theory be 64% (50% income tax + 28% x ½ CGT reinvestment relief). The Government is not expecting this to encourage much investment – it estimates the extension of the relief will cost just £5 million in lost tax revenue.
