12 Jul
2021

Standard Chartered Bank Plc 2010 Annual Report

first_imgStandard Chartered Bank Zambia Plc (SCZ.zm) listed on the Lusaka Securities Exchange under the Banking sector has released it’s 2010 annual report.For more information about Standard Chartered Bank Zambia Plc (SCZ.zm) reports, abridged reports, interim earnings results and earnings presentations, visit the Standard Chartered Bank Zambia Plc (SCZ.zm) company page on AfricanFinancials.Document: Standard Chartered Bank Zambia Plc (SCZ.zm)  2010 annual report.Company ProfileStandard Chartered Bank Zambia Plc is a leading financial services company providing products and services in three key segments: corporate and institutional banking (CIB), retail banking and commercial banking. The financial institution has a national footprint with 25 branches and four electronic banking centres located in the Copperbelt, Lusaka, Northern, North Western, Southern and Western Provinces. The CIB division provides corporate clients with solutions for trading, corporate finance, loans, trade finance, cash management, deposits and treasury. The Retail division services personal, priority and business clients; providing solutions for transactional accounts, deposits, overdrafts and loans, and investment service. The Commercial division manages mid-sized companies that fall between CIB and Retail banking. Standard Chartered Bank Zambia is a subsidiary of the Standard Chartered Bank Group which is an international financial services conglomerate, with headquarters in London, United Kingdom. Standard Chartered Bank Zambia Plc is listed on the Lusaka Stock Exchangelast_img read more

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12 Jul
2021

Mumias Sugar Company Limited (MSC.ke) 2014 Annual Report

first_imgMumias Sugar Company Limited (MSC.ke) listed on the Nairobi Securities Exchange under the Food sector has released it’s 2014 annual report.For more information about Mumias Sugar Company Limited (MSC.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Mumias Sugar Company Limited (MSC.ke) company page on AfricanFinancials.Document: Mumias Sugar Company Limited (MSC.ke)  2014 annual report.Company ProfileMumias Sugar Company Limited is the largest sugar manufacturer in Kenya producing about 250 000 metric tonnes (42%) of the estimated 600 000 metric tonnes of annual national output. Its own sugarcane plantations provide up to 7% of its annual output; its primary source of sugarcane is grown by outgrowers with some 400 square kilometers under cultivation Mumias Sugar Company co-generates over 30 megawatts of electricity which is used for its own operations and surplus is sold into the national electricity grid. Mumias Sugar Company also manufacturers about 24 million liters of ethanol annually and 20 million liters of distilled water. The company was founded in 1971 where the government of Kenya was a major shareholder. The initiative was implemented to provide a source of income for poor farmers in the Mumias district, create job opportunities and curb rural-urban migration. Mumias Sugar Company has reduced Kenya’s dependence on imported sugar products and created a self-sustaining sugar production enterprise where outgrower farmers reap the commercial benefits. Mumias Sugar Company Limited is listed on the Nairobi Securities Exchangelast_img read more

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5 Jul
2021

Here’s what I think Warren Buffett would do regarding the TUI share price right now

first_imgHere’s what I think Warren Buffett would do regarding the TUI share price right now jonathansmith1 has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Warren Buffett is one of the most respected investors on the planet, and has been for several decades. At 90 years of age, his illustrious investing career is almost legendary. Over the decades, he’s provided countless pieces of advice on the subject that I try to take on board when thinking about a particular stock. With recent volatility, the TUI (LSE:TUI) share price is on my mind, as a stock I’m looking at right now. So what would Buffett do in my position?High liabilitiesBuffett famously is not a fan of debt in any form. He was quoted as saying: “I do not like debt, and do not like to invest in companies that have too much debt.” I agree with him, as debt can end up being a hindrance to a company, especially if short-term assets can’t offset the liabilities.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…One of the reasons the TUI share price has moved lower over the past year is due to large debt levels. I get that the pandemic meant the business needed to raise money to stay afloat. But in my opinion this got out of hand with TUI. At the end of Q3, net debt stood at €4.6bn. When you group together all current liabilities and compare then to current assets, the picture doesn’t look great. Comparing the proportion between the two is known as the current ratio. TUI has a current ratio of 0.45. This means that it has 45p of assets for each £1 of liabilities in the next 12 months. So with high debt levels, and high liabilities in general, I don’t think Buffett would be keen on investing in TUI from that angle.Is the TUI share price just in temporary trouble?Another quote from Warren Buffett is that “the best thing that happens to us is when a great company gets into temporary trouble…we want to buy them when they’re on the operating table.” What he’s getting at here is the ability to buy into a company when it’s oversold in the short term. The blip can allow a smart investor to see past the temporary issue and look to the long-term prospects.The Covid pandemic is a temporary problem. As much as it’s a devastating and terrible virus, at some point countries will recover and we’ll be able to go back to some kind of normality. The pandemic is the main reason why TUI (and the share price) is in so much trouble. Of course, TUI had issues before the virus kicked in. But at the same time, it’s the largest travel and tourism firm in the world. So I’d back it to survive the pandemic right now.As a result, I could look at the TUI share price trading around 400p and think this is a great buy. Given where it traded at in 2018 and 2019, Warren Buffett may see value in buying during this temporary trouble.He has invested in the travel and tourism industry in the past, and so might view TUI as a buy. But I’m not convinced he’d be won over and I’d prefer to wait on the sidelines to see how the next few months pan out. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Our 6 ‘Best Buys Now’ Shares Jonathan Smith | Tuesday, 19th January, 2021 | More on: TUI center_img Image source: The Motley Fool Enter Your Email Address See all posts by Jonathan Smith Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this.last_img read more

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16 Jun
2021

Charities’ efforts ‘unconvincing and ineffective’ say contributors to new collection on diversity

first_img Tagged with: diversity Charities’ efforts ‘unconvincing and ineffective’ say contributors to new collection on diversity AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis6  258 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis6  257 total views,  2 views today Melanie May | 12 July 2019 | News “We are delighted to support this project. With 70% of charity board positions not being advertised openly, it has never been more important to shine a light on the consequences of ‘group think’ in the not-for-profit sector. Asking challenging questions of a charity’s work and purpose requires different voices around the table. We hope that, in sharing these stories, we can encourage more charity boards to better reflect the people they serve now and in the future.” About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Charities’ efforts at diversity are ‘unconvincing and ineffective’ according to contributors to new collection of essays and podcasts on the topic.Walking the talk: Putting workplace equality, diversity and inclusion into practice has been published by charity think-tank NPC and funded by Trustees Unlimited and Russam GMS.Contributors have been drawn from charities and funders as well as from the private and public sector and selected for their ability to provide practical advice on how the sector can improve its diversity, and to give the social sector perspective on its own efforts to improve its diversity either from the inside or from another industry.The collection contains practical advice for organisations of all sizes looking to improve their diversity, along with contributions from people frustrated at the pace of change in the sector, and with diversity programmes they feel do not address the structural inequalities that exist in society but are being replicated at scale in the charity sector.The 10 essay and four podcast collection launched on Wednesday 10 July.Podcasts include:Arvinda Gohil, Chair of The Peel and former CEO of Community Links, talking about how a culture that prioritises ‘fit’ excludes people from different backgrounds such as herselfRob Berkley, founder of BlkOutUK.com and former director of the Runnymede Trust explaining why charities have a greater responsibility to be diverse than other organisations,Syriah Bailey, Community Coordinator at Campaign Bootcamp, arguing that charity and philanthropy perpetuate marginalisation of some communities by excluding them from meaningful conversations and avoiding representation in favour of adding a ‘sprinkle of diversity’.Nathan Yeowell, Head of Policy at NPC said;“What we have heard through this work is that, in a wide variety of ways, people feel they are not listened to. They feel excluded, undervalued and tokenised. We wanted to share these perspectives, as well as practical advice aimed at overcoming and remedying the problems at their heart, because we believe that understanding both equally is important for positive change.“We hope that by providing a resource for people who need practical help, and an outlet for those with criticisms and frustrations with the sector, we have added something valuable. If we can start having these sometimes-difficult conversations, we can work towards a shared understanding of what needs to be done and agenda for change.”Sophie Livingstone, MD of Trustees Unlimited, said: Advertisementlast_img read more

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14 Jun
2021

Ethanol Takes Center Stage in Senate Campaign

first_imgHome Indiana Agriculture News Ethanol Takes Center Stage in Senate Campaign Ethanol Takes Center Stage in Senate Campaign Facebook Twitter SHARE By Gary Truitt – May 23, 2012 Facebook Twitter Donnelly said, in addition, ethanol provides the US with energy security, “We are fortunate to have such a vibrant industry in this state that benefits so many Indiana farmers, producers at facilities like this one, and families at the pump.  We need to go all-in on American energy production so we stop sending our hard-earned tax dollars overseas.  Indiana can be a leader in this effort with our ethanol production.”GOP candidate Richard Mourdock is on record questioning ethanol’s value. Donnelly told HAT he is a solid supporter of ethanol, “I just don’t understand how Richard Mourdock can say ethanol costs more.” According to the Indiana Corn Marketing Council, 3,500 Hoosier jobs are dependent upon the state’s ethanol industry, and the industry generates $3.4 billion in economic activity in Indiana every year.  “While Richard Mourdock chooses to spread misinformation about ethanol, I am proud to be here today to recognize the importance of this industry to middle-class families and rural communities across our state,” Donnelly said.Donnelly said he would work to remove the special tax breaks the oil industry gets to put them on a level playing field with renewable energy sources, “I strongly believe we need to set partisanship aside to get things done for Hoosier middle-class families, which is why I wholeheartedly support the ethanol industry.”center_img SHARE Congressman Joe Donnelly toured the POET ethanol plant at Alexandria in Madison County on Wednesday as a way to highlight his support for ethanol and also the differences between him and his opponent Richard Murdock. Donnelly told HAT he was impressed with the facility, “The technology just keeps getting better and better.” He said the plant buys corn from a 7 county area providing an economic boost to the entire region. The behind-the-scenes tour and discussion about ethanol was led by Dave Hudak, the General Manager of the Alexandria plant and Secretary of the Indiana Ethanol Producers Association. . Audio Playerhttps://media.blubrry.com/hoosieragtoday/p/www.hoosieragtoday.com//wp-content/uploads//2012/05/donnelywrap.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.Podcast: Play in new window | Download | EmbedSubscribe: RSS Previous articleUSDA Doesn’t Want to Change Report Release Times without Public InputNext articleIndiana Observes 150 Years for USDA Gary Truitt [audio:https://www.hoosieragtoday.com//wp-content/uploads//2012/05/donnelywrap.mp3|titles=Ethanol Takes Center Stage in Senate Campaign]last_img read more

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12 Jun
2021

Blogspot.com blocked again

first_img Pakistani journalist critical of the military wounded by gunfire News News The Pakistan Telecommunication Authority (PTA) seems to have changed its mind because on 6 May it reinstated the blocking of blogspot.com (or blogger.com) that it had suspended just four days earlier. As a result, this blog tool is once again inaccessible within Pakistan.The PTA gave no reason for lifting the blocking on 2 May. In the view of Don’t Block the Blog, a new Pakistan-based collective, it was done “to appease the United Nations” during World Press Freedom Day on 3 May. The authorities are playing “cat and mouse game,” the collective said.Don’t Block the Blog campaigns for online free expression. It was formed on 3 March, a few days after the PTA blocked access to blogs that posted the controversial Mohammed cartoons.Reporters Without Borders supports the bloggers and other Internet users who are combatting Internet censorship in Pakistan. Follow the news on Pakistan to go further Organisation Receive email alerts News June 2, 2021 Find out more Help by sharing this information The Don’t Block the Blog banner ————————-3.05.06Blogspot.com accessible in Pakistan againReporters Without Borders today welcomed the action of five ISPs including Paknet, a subsidiary of the Pakistan Telecommunication Company, yesterday in ending the blocking of blogspot.com (or blogger.com). This blog service had been filtered as a result of a ban by the Pakistan Telecommunication Authority (PTA) in February on blogs that had posted the controversial Mohammed cartoons.In a more recent move, the PTA banned four Baluch nationalist websites on 25 April (see http://www.rsf.org/article.php3?id_article=17508). Reporters Without Borders condemned all of these bans, which were imposed with obtaining a court order.————————–6.03.06Twelve websites, including blogger.com, blocked for posting cartoonsReporters Without Borders is concerned about the decision of the Pakistan Telecommunications Authority (PTA), to block access to twelve websites which posted the cartoons of the prophet Mohammed which appeared in the Danish daily Jyllands-Posten. The PTA on 28 February ordered Internet Service Providers to block the website blogspot.com (or blogger.com), taking down thousands of weblogs hosted by this tool.“We believe that the decision to ban a website should only ever be taken by a judge, at the end of a fair trial. It is moreover unacceptable that the order to block a site should go through the PTA, which while apparently aiming at one blog hosted by blogger.com, led to the filtering of all websites sharing the same domain name,” said the organisation.This order from the PTA comes around ten days after a petition calling on the government to ban the spread of “blasphemous content” through the Internet, was submitted to the Supreme Court. The court on 2 March formally asked the government to take such a step.The bloggers network Global Voices, which revealed the case on its site, has been posting information about campaigns launched by bloggers to condemn the filtering.Local access providers have applied the PTA decision by blocking access to all sites whose URL incorporates blogspot.com, that is all sites hosted by this service. It is however technically possible to ban access solely to a blog causing a problem.Go to Reporters Without Borders’ Handbook for Bloggers and Cyberdissidents, that gives practical advice about how get round Internet filtering:center_img News The Pakistan Telecommunication Authority (PTA) seems to have changed its mind because on 6 May it reinstated the blocking of blogspot.com (or blogger.com) that it had suspended just four days earlier. As a result, this blog tool is once again inaccessible within Pakistan. ————-Create your blog with Reporters without borders: www.rsfblog.org PakistanAsia – Pacific RSF_en Pakistani TV anchor censored after denouncing violence against journalists May 10, 2006 – Updated on January 20, 2016 Blogspot.com blocked again April 21, 2021 Find out more PakistanAsia – Pacific Pakistani supreme court acquits main suspect in Daniel Pearl murder January 28, 2021 Find out morelast_img read more

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26 May
2021

NCLT Allows Reduction Of Paid Up Share Capital Structure Of Josco Jewellers Pvt. Ltd. From Rs. 120 Crores To 1 Crore At Its Request

first_imgNews UpdatesNCLT Allows Reduction Of Paid Up Share Capital Structure Of Josco Jewellers Pvt. Ltd. From Rs. 120 Crores To 1 Crore At Its Request Nupur Thapliyal11 Jan 2021 6:48 AMShare This – xThe National Company Law Tribunal, Kochi Bench allowed a company petition filed by Josco Jewellers Pvt. Ltd. for reduction of its share capital from Rs. 120 crores to Rs. 1 crore after an agreement was entered into by the petitioner company for selling and transferring business to one of its flagship companies, Josco Bullion Traders Pvt. Ltd. The decision came in the wake of…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe National Company Law Tribunal, Kochi Bench allowed a company petition filed by Josco Jewellers Pvt. Ltd. for reduction of its share capital from Rs. 120 crores to Rs. 1 crore after an agreement was entered into by the petitioner company for selling and transferring business to one of its flagship companies, Josco Bullion Traders Pvt. Ltd. The decision came in the wake of a special resolution passed by the Board of Directors of petitioner company wherein it had reviewed that it was necessary to reduce the paid up capital structure as it was more than the required amount to facilitate the business agreement. BACKGROUND Josco Jewellers Pvt. Ltd. is a company engaged in doing business of manufacturing, trading, selling, importing, exporting and dealing in all kinds of gold ornaments, gold bars, sovereign, jewels made out of white gold, silver, diamond and other similar products. The company had filed a petition under Sec. 66 of Companeis Act, 2013 against the Registrar of Companies, Kerela seeking reduction of its authorized share capital which presently was estimated as being Rs. 120,00,00,000 (Rs. 120 crores). A business agreement was entered into by Josco Jewellers Pvt. Ltd. with one of its flagship companies i.e. Josco Group (Josco Bullion Traders Pvt. Ltd.) for selling and transferring the jewellery business to the said flagship company. The need for reduction in share capital of the Josco Jewellers Pvt. Ltd. was felt after the Board of Directors of the company had reviewed that its paid up capital structure was more than the required amount commensurate and that it will be beneficial if it would remit back the excess capital by way of reduction of share capital. In view of this, a resolution was passed by the Board of Directors dated 02.12.2019 wherein it approved the proposal of reducing the share capital and subsequently, a special resolution was also passed on 31st December 2019 in compliance of Sec. 66(1) of the Act. According to the petitioner company, it had approached the NCLT seeking relief of reduction of its share capital as approved by the company Board, to waive off the requirement of issuing notice to creditors and publishing the same in newspapers. OBSERVATION OF THE BENCH Adv. Nebil Nizar, appearing on behalf of Josco Jewellers Pvt. Ltd submitted that that according to its Articles of Association, the company is empowered to reduce its share capital and to divide its shares in accordance with the requirements of Companies Act, 2013. The bench while analyzing the petitioner company’s AoA observed that the authorized share capital of the company was Rs. 120 crores divided into Rs. 1,20,00,000 equity shares of Rs. 100 each which were issued and fully paid. It was also submitted by the petitioner company that the proposed reduction was necessary for the benefit of shareholders and stakeholders concerned and that the company has not accepted any deposits or has any unsecured creditors as on 31st October 2019. After looking at the necessary statutory requirements, the NCLT while observing that all the procedures have been met, held that: “Since all the requisite statutory procedures have been fulfilled and no objections received from any shareholders before this Tribunal, the Company Petition is made absolute in terms of the prayer clause of the Petition, which are hereby allowed.” According to the minutes of share capital reduction, “The Paid-up share capital of the Company is henceforth Rs. 1 Crore (One Crore Only) consisting of 1,00,000 (One Lakh) equity shares of Rs.100/- (Rupees One Hundred Only) each by cancelling and extinguishing a sum of Rs. 119 Crores (Rupees One Hundred and Nineteen Crores Only) from Rs. 120 Crores (Rupees One Hundred and Twenty Crores Only) consisting of 1,20,00,000 (One Crore Twenty Lakh) equity shares of RS. 100/- (Rupees One Hundred Only) each.” In view of this, it was also directed that the petitioner must public notices and minutes of reduction in two newspapers namely “Indian Express” and “Mathruboomi” in English and Malayalam respectively.Click Here To Download Order[Read Order]Next Storylast_img read more

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7 May
2021

Queensland awards gas exploration tenders to four companies

first_img Queensland government awards gas exploration tenders to bring more gas to market. (Credit: Terry McGraw from Pixabay.) The Queensland government in Australia has awarded tenders to Senex Energy, Comet Ridge, State Gas and Denison Gas for gas exploration in areas near their existing infrastructure to bring more gas to the market.Comet Ridge has been awarded a tender to explore two gas fields to the east and north-east of the Mahalo gas project located west of Gladstone in central Queensland.One of the fields is PLR2020-1-1, called as Mahalo East, that covers 97km2 of area and is located immediately east of Mahalo North.Spanning over 338km2 of area, the other block, PLR2020-1-2 is said to contain the north-eastern extent of the high-quality gas fairway.Senex Energy awarded tender to explore 486km2 natural gas exploration blockAustralian energy company Senex Energy has been awarded preferred tenderer status to explore a 486km2 natural gas exploration block and also an 18km2 block for domestic market gas near its existing Project Atlas near Wandoan.The 486km2 exploration block PLR2020-1-9, is situated between the Scotia and Meridian gas fields in the Bowen Basin.The company is planning to execute an initial four-year work programme including geological studies, 2D seismic acquisition and an exploration well.Senex managing director Ian Davies said: “The award of further natural gas tenements would enable the company to increase production from the successful Atlas domestic gas project by 50 per cent and to continue to explore for, and develop, new gas resources for the domestic market.”The Queensland government has awarded a tender to State Gas to explore 1,414km2 of area situated south-west of Rolleston near its existing Reid’s Dome gas project.Denison Gas has been appointed as preferred tenderer to explore 668km2 located north of Injune, near its existing Denison South project.In June this year, the Queensland government has opened an additional 1,500km2 acreage in the Surat and Bowen Basins for gas exploration. Senex Energy, Comet Ridge, State Gas and Denison Gas have been awarded preferred tenderer status to explore areas close to their existing infrastructurelast_img read more

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7 May
2021

Scottish Government revises property tax after UK stamp duty changes

first_imgDeputy First Minister John Swinney has announced a series of changes to the Land and Buildings Transaction Tax (LBTT) – which will replace stamp duty for homebuyers in Scotland – following Chancellor George Osborne’s amends to stamp duty in his Autumn Statement in December.Among the headline amendments, is the fact that homes in Scotland worth up to £145,000 will not now attract any tax, up from the previously proposed £135,000.For sales between £145,000 and £250,000, a tax rate of 2 per cent will be applied, with the introduction of a new rate of 5 per cent between £250,000 and £325,000.Mr Swinney had previously planned a tax rate of 10 per cent on residential properties sold for between £250,000 and £1 million – prompting concerns that those acquiring family homes could be hit.However, the 10 per cent rate will be applied to properties valued between £325,000 and £750,000.The top rate of 12 per cent – which was previously going to apply to residential properties worth in excess of £1 million – will now take effect from £750,000.The Deputy First Minister defended the Scottish national Party’s (SNP) decision to change the taxes following the Chancellor’s surprise decision to reform UK stamp duty.“The Chancellor of the Exchequer, having had years and years to reform stamp duty land tax, took two months to look at Scotland’s reforms and said ‘that looks like a good idea, I’m going to do that for the rest of the United Kingdom’,” said Swinney (left).The property tax review announced last week by Swinney was deemed disappointing news for buyers and sellers of Scottish homes by estate agency Strutt & Parker.While the changes to the LBTT rates could boost the market for first-time buyers and the lower end of the sector, Strutt & Parker believe that the middle sector of the market will suffer under the introduction of the new house sales tax which will replace Stamp Duty Land Tax in Scotland on April 1.Andrew Rettie (right), Head of Estate Agency for Strutt & Parker in Scotland, commented: “While LBTT will help first-time – the average price of a house in Scotland is £170,000 – it has been widely derided as an unfair attack on families and a punitive tax on aspiration, particularly in the affluent centres of Glasgow, Edinburgh and Aberdeen. The changes announced [last week] are no better.“Strutt & Parker backed the Scottish Conservatives’ proposals for the introduction of a mid-tier rate of five per cent between £250,001 and £500,000 and we were hopeful that Mr Swinney would introduce something along those lines but while this review offers a concession to the lower end of the market it is a blow to everyone else and a missed opportunity to provide a fillip to the property. If families can’t upsize because of the increase in tax, they will not sell, leading to a stalemate in the middle of the market, which is really the engine room of a thriving housing sector.”Commenting on the revised LLBTT, Philip Hogg, Chief Executive of home building industry body, Homes for Scotland, said: “We are pleased that the Deputy First Minister has paid some notice to our call for the introduction of a new intermediate band with the five per cent rate for property purchases between £250,000 and £325,000.”Mr Hogg also welcomed additional support at market entry level, but insisted that a healthy, functioning market for all price brackets is needed.“It therefore remains to be seen whether the sharp ten per cent increase for purchases above £325,000 could still prove too punitive on growing families and aspirational movers, leading them to stay put and others unable to progress up the housing ladder,” he added.Knight Frank has welcomed the fact that the Scottish Government has decided to revise the LBTT rates.“The changes will help lessen the tax burden of those purchasing fairly modest family homes in core locations of Scotland,” said Oliver Knight (right), Knight Frank Residential Research.“Under the original LBTT rates, homebuyers in Edinburgh, Aberdeen and parts of Glasgow – where prices for larger family houses tend to be higher – would all have seen a sharp rise in the up-front cost of moving.”“The new LBTT rates mean that the threshold at which buyers will pay more tax compared to the current UK stamp duty system has risen from £254,000 to £330,000,” he added.Edward Douglas-Home, Head of Edinburgh City Sales at Knight Frank, concurred: “The new rates are likely to be welcomed by homebuyers, especially in Edinburgh where the cost of housing is higher relative to the rest of the country. The biggest beneficiaries will be middle income families looking to move up the housing ladder.“The average cost of a detached family home in Edinburgh is around £390,000, rising to a lot more in some parts of the city, such as in Morningside, The Grange and Murrayfield, as well as for the terraced town houses of New Town and the West End. Under the original rates proposed a property of this value would have been liable for a £16,300 tax bill. The revised rates mean the LBTT charge for the same property will now be £12,350 or 24 per cent less.“The new bands should help to keep the market fluid and ensure that the recovery in prices and transactions that we have seen over the few years continues.”property tax Scotland stamp duty January 28, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Scottish Government revises property tax after UK stamp duty changes previous nextRegulation & LawScottish Government revises property tax after UK stamp duty changes28th January 20150656 Viewslast_img read more

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3 May
2021

THANK YOU VETERANS  BY MARK HURT

first_imgTHANK YOU VETERANS  BY MARK HURTOn November 11, we take time to honor the brave men and women who serve our county to defend our freedoms and protect our families.Remember military families today for the sacrifices they make.   Please consider hosting a veteran for lunch in their honor and to learn about your veteran’s military experiences.  I encourage businesses to highlight the experiences of veteran employees, respectfully and with sensitivity.  Today, and every day, please recognize the families of veterans who served behind the scenes.  Also, think about volunteering for veteran service organizations who do things like build houses, provide PTSD and suicide prevention counseling, on-site coaching at workforce centers and purchasing and providing supplies for veteran homeless shelters.If you do nothing else on this special day, take 4 minutes and 16 seconds and listen to Trace Adkins’ “Arlington” at https://www.youtube.com/watch?v=rJO7IJIxG10.  Paste this in your browser and remember those who served and continue to serve both at Memorial Day and Veterans Day.Let’s bring light on and raise appreciation for the service of veterans.  Let’s provide support and not forget the nearly 49,000 homeless veterans and lets renew our belief and firm resolve to have the necessary funds not only to wage war when necessary but even more importantly, to preserve the peace.  May God continue to bless the men and women who serve our nation and wear the military uniforms of the United States of America.Mark Hurt is an attorney who is a Republican candidate for Indiana’s U.S. Senate in 2018.FacebookTwitterCopy LinkEmailSharelast_img read more

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