Accountancy Highlights

Reducing Your Marginal Rate of Tax

Umbrella Vs Limited Company set-up

Treasury to clamp down on stamp duty avoidance

Growth in the market for contractors in the UK

Proposal to merge PAYE and National Insurance

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Day Trader fined £8m for abuse

The Financial Services Authority fined day trading firm Swift Trade £8 million for market abuse. The regulator says the firm, led by Peter Beck, engaged in an illegal scheme known as layering to artificially boost share prices and make quick profits. Swift is fighting the fine, taking the case to tribunal. 


Tesco to Pull out of Japan

Tesco has failed to crack the Japanese market and announced that it will cease operations at its loss making Japanese arm. The strategic move was brought by Philip Clarke, the new chief executive. Tesco have 129 stores in Tokyo that are now up for sale. The move brings speculation over the future of the company’s loss-making US division as Tesco may be looking to exit from other markets.


Government proposal to break up the banks commercial and investment banking operations

The Government have proposed to “ring fence” the retail arms of the banks from their other banking operations in a bid to reduce the country’s exposure to bailing out the banks which have become “too big to fail”. The taxpayer bailout of the banks has been widely recognised as having led to the recession in the UK. 

The move proposes to segregate the riskier casino side of the business where the banks have been able to engage in high risk speculative trading and have drummed up significant losses. Recent studies show that lending to individuals and to small & medium sized companies has become increasingly difficult and is hampering Britain’s economic recovery.