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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

HMRC News

Guidance: Rates and Allowances: Capital Gains Tax

Fri, Feb 23, 2018

Updated: Capital Gains Tax on carried interest at 18% and 28% has been updated in section 3.2 'Tax years 2016 to 2017'.This document is classified by HM Revenue and Customs as guidance and contains information about Capital Gains Tax rates and annual tax-free allowances. ...

Guidance: Child Trust Fund: CTF Bulletin 84

Fri, Feb 23, 2018

This bulletin provides information on: CTF annual subscription limits The Share Foundation requests to reverse CTF subscriptions ...

Guidance: HMRC: your guide to making a voluntary disclosure

Fri, Feb 23, 2018

Updated: An address for employers to tell HMRC they have liabilities to settle has been added to the employer liabilities section.If you owe tax on income or gains you must tell HM Revenue and Customs about any unpaid tax now. You’ll then have 90 days to calculate and pay what you owe. This guide explains how to make a voluntary disclosure. ...

Guidance: Countdown bulletin 32 - February 2018

Fri, Feb 23, 2018

Countdown bulletin 32 has updates about the termination and transfer notices with end dates on or after 6 April 2016. ...

Guidance: Foreign entertainers: list of approved payers in the middleman scheme

Fri, Feb 23, 2018

Updated: The address of an approved payer in the middleman scheme has been updated. If you pay a non-UK resident entertainer for making an appearance or performing in the UK, and the total payment is more than the personal tax allowance, you must deduct withholding tax from the payment. If you make the payment to a payer who is part of the middleman scheme, you don’t have to pay withholding ta...

Corporate report: HM Revenue and Customs' organisation chart

Fri, Feb 23, 2018

Updated: Updated with organisation chart for February 2018 This chart shows how the senior management of HM Revenue and Customs (HMRC) is organised. ...

Guidance: Specialist investigations for fraud and bespoke avoidance: Code of Practice 8

Fri, Feb 23, 2018

Updated: New section 'Public statement' has been added following HMRC’s change in policy relating to the use of open source material in compliance interventions.Code of Practice 8 is for guidance only and reflects HM Revenue and Customs position at the time of writing. ...

Transparency data: HMRC senior officials travel report

Fri, Feb 23, 2018

Updated: Data added for 1 July to 30 September 2017This document reports all travel, accommodation and meals incurred by HM Revenue and Customs senior officials at SCS3 (or equivalent) and above, and international travel, accommodation and meals for senior officials at SCS2 (or equivalent). It also includes a summary of UK-based travel for SCS2 (or equivalent). Data has been redacted where it ...

Notice: Excise Notice 455a: Remote Gaming Duty

Thu, Feb 22, 2018

Updated: Notice updated to give more detailed guidance about Remote Gaming Duty which came into effect from 14 December 2014 and on freeplays which came into effect from 1 August 2017.This notice replaces the December 2014 edition of Notice 455a: Remote Gaming Duty. It has been revised to give more detailed guidance about the reforms to RGD which came into effect on 1 December 2014, together wi...

Guidance: Rates and allowances: Inheritance Tax thresholds and interest rates

Thu, Feb 22, 2018

Updated: The Inheritance Tax interest rate from 21 November 2017 is 3%.The attached document is classified by HM Revenue and Customs as guidance and contains information of the different thresholds in use for deaths going back to 1914. It also shows the changes in Inheritance Tax interest rates from October 1988. You can use this information to calculate how much interest is due on an Inherit...

ACCA Tax News

The Chartered Institute of Taxation: News

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Reuters: Money

BlackRock puts gunmakers on notice after Florida school shooting

Thu, Feb 22, 2018

BOSTON/NEW YORK (Reuters) - The world's largest asset manager put U.S. gunmakers on notice on Thursday that it is no longer business as usual in the wake of a shooting that killed 17 at a Florida... ...

U.S. fund investors creep back in to market: Lipper

Thu, Feb 22, 2018

NEW YORK (Reuters) - U.S. fund investors inched back in to the markets during the most recent week, putting $2.5 billion into bonds and $1.1 billion into stocks, Lipper data showed on Thursday. ...

For some, traumatic life jolts lead to profound, personal growth

Thu, Feb 22, 2018

CHICAGO (Reuters) - (The opinions expressed here are those of the author, a columnist for Reuters.) ...

Five ways millennial caregivers can find help

Thu, Feb 22, 2018

NEW YORK (Reuters) - Amanda Singer had her plate full running a dance studio in Massachusetts. ...

Norway's sovereign wealth fund buys 245 million pounds stake in UK's Shaftesbury

Fri, Feb 23, 2018

((This Feb. 22 story corrects paragraph 4 to clarify NBIM's partnership with Crown Estate)) ...

How matching money turbo-charges U.S. retirement savings

Wed, Feb 21, 2018

CHICAGO - After turning miserly when the Great Recession began nearly 10 years ago, U.S. employers are loosening their purse strings and giving workers more money to boost retirement savings. ...

Bridgewater's Dalio sees 70 percent chance of recession before 2020

Wed, Feb 21, 2018

CAMBRIDGE, Mass. (Reuters) - Billionaire investor Ray Dalio, who founded world's largest hedge fund Bridgewater Associates, thinks there is a relatively high chance the U.S. economy will stumble into... ...

Exclusive: Investment star Alan Howard's comeback hits headwind

Wed, Feb 21, 2018

NEW YORK (Reuters) - A fund managed directly by Alan Howard, one of Britain’s best known investors, lost nearly 9.0 percent net of fees from May through December 2017, according to information... ...

Guggenheim's Minerd warns of a possible replay of 1987 stock market crash

Tue, Feb 20, 2018

NEW YORK (Reuters) - Investors should brace for a possible replay of the 1987 stock market crash later this year, given this month's slump came against the backdrop of Federal Reserve interest rate... ...

U.S. market gurus who predicted selloff say current calm an illusion

Fri, Feb 16, 2018

Some veteran investors who were vindicated in calling for a pullback in shares and a spike in volatility could now be cheering. Actually, they're looking at the risks that still lie ahead in the... ...

Reuters: Financial Services and Real Estate

Stocks rally as Fed eases rate worry, tech climbs

Fri, Feb 23, 2018

NEW YORK (Reuters) - U.S. stocks rallied on Friday, lifted by gains in technology stocks and a retreat in Treasury yields as the Federal Reserve eased concerns about the path of interest rate hikes this year. ...

General Mills moves into pet food with $8 billion Blue Buffalo deal

Fri, Feb 23, 2018

(Reuters) - Cheerios cereal maker General Mills Inc will buy Blue Buffalo Pet Products Inc for nearly $8 billion, foraying into a fast-growing pet food market to counter declining sales of processed foods. ...

With rates low, Fed officials fret over next U.S. recession

Fri, Feb 23, 2018

NEW YORK/LOS ANGELES (Reuters) - Federal Reserve policymakers are fretting that they could face the next U.S. recession with an arsenal of policies little different from that used in the last downturn but robbed of much of their punch because interest rates are still low. ...

Dropbox files for IPO of up to $500 million

Fri, Feb 23, 2018

(Reuters) - Data-sharing business Dropbox Inc on Friday filed for an initial public offering of up to $500 million with the U.S. Securities and Exchange Commission. ...

Geely chairman builds $9 billion stake in Germany's Daimler

Fri, Feb 23, 2018

BEIJING/FRANKFURT (Reuters) - The chairman of Chinese carmaker Geely [GEELY.UL] has built a 9.69 percent stake in Mercedes-Benz owner Daimler , filings showed on Friday, demonstrating a shift in strategy by Chinese investors seeking access to new technology. ...

Exclusive: Nordstrom family group finalizing take-private offer - sources

Fri, Feb 23, 2018

(Reuters) - Nordstrom Inc's founding family group is finalizing plans to submit an offer to take the U.S. department store operator private, people familiar with the matter said on Friday. ...

Billionaire investor Warren Buffett to retire from Kraft Heinz board

Fri, Feb 23, 2018

(Reuters) - Kraft Heinz Co said on Friday billionaire investor Warren Buffett has decided to retire from the company's board following the end of his term in April to reduce travel commitments. ...

GE says it may face U.S. action over subprime mortgage operations

Fri, Feb 23, 2018

NEW YORK (Reuters) - General Electric Co faces potential action by the U.S. Justice Department over allegations that its GE Capital unit and now defunct WMC Mortgage Corp unit violated U.S. law in connection with subprime mortgages, according to a regulatory filing on Friday. ...

Volkswagen settles U.S. diesel owner lawsuit on eve of trial

Fri, Feb 23, 2018

WASHINGTON (Reuters) - Volkswagen AG's U.S. unit on Friday resolved a lawsuit brought by a North Carolina man whose diesel emissions case was set to be the first go to trial on Monday. ...

U.S. banks set for M&A wave as Trump cuts red tape

Fri, Feb 23, 2018

WASHINGTON (Reuters) - An easing of financial rules will soon unleash pent-up mergers and acquisitions among mid-sized U.S. banks, according to deal bankers, analysts and bank executives. ...