Stockmarkets Surge After Prospect of European Quantitative Easing

Mario Draghi, president of the European Central Bank (ECB), announced that from March 2015 the ECB will inject €60 billion per month into the Eurozone’s troubled economy. It is expected that over €1.1 trillion will be injected into the European economy in total over a period of 18 months. The stockmarket surged in response to the news. The FTSE100 rose from £6,400 in January to £6,829 at the time of writing.

Self Assessment Tax Returns Due By 31 January 2015

Contactors and self employed individuals will note that the deadline for Self Assessment Tax Returns for the tax year 2013/14 is due by 31 January 2015. Any tax payable must be paid to HMRC by the 31 January deadline.

If you have not prepared your tax returns yet, you should act immediately to avoid the risk of fines for late submission.

Belsize Accountancy are specialist accountants for contractors and small businesses. If you require assistance with your tax returns please feel free to contact us at info@Belsizeaccountancy.co.uk.

Highlights Of The Year 2014

Here are our picks of the business news and highlights of the year 2014:

December 2014

- Russian Rouble falls to a low of 1:101 to the Pound following a combination of economic sanctions and the drop in the oil price.

- Sharp 20% fall in the oil price increases concerns over the global recovery.

- Sony Pictures Entertainment suffered a cyberattack from suspected North Korean hackers and subsequently cancelled the release of the controversial film “The Interview” which included a CIA plot to assassinate North Korean dictator Kim Jong-un.

November 2014

- Consumers flocked to UK stores during Black Friday on 28 November 2014 for the biggest shopping day ever on the British high street.

October 2014

- US Stockmarket slips 6% following market concerns over end to quantitative easing.

September 2014

- Ali Baba floats on New York Stock Exchange in world largest tech IPO at $230m

- Tesco cuts dividend after profit warning

- S&P500 breaks the 2000 barrier to reach all time high

- Mobile phone chain Phones4U falls into administration

August 2014

- The euro dropped to a low of 1.34 against the dollar due to the prospect of quantitative easing following news that Germany experienced negative growth last quarter.

- The S&P500 rose to a record high this week and broke the 2,000 barrier as confidence in the US recovery increases.

July 2014

- Germany win 2014 World Cup.

- Russian separatists shot down Malaysian passenger jet. EU imposes sanctions against Russia.

- Housing market shows signs of cooling down.

- Tax free NISA introduced with an allowance of £15,000 in 2014/15.

- Facebook acquires video ad platform Liverail in a move that will enhance its position in the online video advertising industry.

June 2014

- Brazil host 2014 World Cup.

May 2014

- BOE announce intention to raise interest rates in Q4 2014.

April 2014

- The number of contractors and freelance consultants in the UK has reaches an all time high.

- Market confidence remains high with the S&P 500 reaching a record high of 1,897 in the month.

March 2014

- The 2014 Winter Olympics hosted in Sochi is set to become the most expensive Olympic Games in history. The Games are expected to cost Russia in excess of $51 billion, which is $10 billion more than Beijing 2010.

-Russia moves military troops into the Crimea region of Ukraine. The Russian stockmarket fell 10% over fears of military action.

- Chinese e-commerce giant, Ali Baba announced plans to float on the US Stock Exchange later this year.

- UK Chancellor George Osborne announced his 2014 Budget which includes benefits for Britain’s Pensioners and Savers.

February 2014

- The main exchange server of Bitcoin went down in February. Bitcoins worth $400m appear to have been lost as a result.

- Facebook acquires mobile messaging app company WhatsApp for a whopping $19 billion.

January 2014

- The US Federal Reserve announced a further tapering of its QE programme reducing it by $10 billion per month to $65 billion due to the strength of the US recovery.