UHY Tax Update

We have issued a new installment of our regular UHY summary of all the latest tax issues that will affect you and your business.

In this issue we concentrate on:

  • RTI – biggest change to PAYE since 1944
  • Share option schemes – share and share alike with employees
  • Dissolution of dormant companies
  • New tax return penalties strike back
  • Company car crashes
  • Tax enquiry insurance – good risk management?
  • The other side of tax morality – are the HMRC prepared to ignore morality?
  • Olympic torchbearers – beware of the taxman…

Enjoy!

http://www.uhy-uk.com/resources/tax-hub/tax-update/tax-update-issue-38/

Middle East/African holidays to December 2012

Reuters has published a useful list of holidays in the Middle East and Africa for the rest of 2012. There is a particular emphasis on Muslim holidays (some of which are subject to Lunar sightings). 

These should be useful for people in the oil, gas & mining sector who have operations in any of these locations.

http://www.reuters.com/article/2012/08/30/diary-mideast-african-holidays-idUSL0922378620120830

Gold on the up again

Gold surged 2 percent in heavy trading on Friday to a five-month high after Federal Reserve Chairman Ben Bernanke’s key speech raised hopes of a new round of monetary stimulus for the U.S. economy.

After recent flat trading gold edged toward the $1,700 an ounce level last seen in March. This was gold’s biggest daily gain in two months and a 4.5 percent gain in August, its third straight monthly rise and its biggest since January.

Meanwhile Brinks (which stores and transports gold bullion) is set to open one of the world’s largest precious metals vaults in London within the next month, at a time when investors’ gold holdings are at a record.

Investors seem to be buying more gold as a protection of wealth on speculation central banks will do more to bolster growth and amid the continued debt crisis.

For a chart of the 2012’s gold price movements have a look at:

http://graphics.thomsonreuters.com/US/2/FT_20123108153006.jpg

Jim Cramer from the famous Mad Money TV often says that private investors should hold up to 20% of their portfolio in gold as a hedge against other forms of investments.

http://finance.yahoo.com/news/cramer-heres-im-playing-gold-150458203.html