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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Growing Fears of a Double Dip Recession

Fears of a double dip recession grew in light of a recent drop in manufacturing output in the UK. The volume of new orders fell for the fourth month running in August. The dip in new business is the result of weak demand in the UK combined with rising global economic uncertainty and a reduction in the exports.

 It is surprising that concerns over a double dip recession have only recently come to light in the press. This risk was immediately obvious to most people in the business world given the decision to increase VAT to 20% in January 2011 combined with the recent increase in income taxes and National Insurance. The reduction in disposable income combined with large cuts in government spending have not been matched by growth in the private sector.


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.