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| Back on Tip TV talking about Whitbread, LSE and Actelion - part 2 Posted: 30 Mar 2016 03:14 PM PDT There were a flurry of stories this evening about US pharmaceutical company Medivation hiring JP Morgan to field takeover offers. From a quick glance at Twitter it appeared to that Bloomberg, Reuters and CNBC in the US. were claiming to have the "sources familiar with the matter" backing the story up. So, Medivation's shares were sharply up in the aftermarket. But in case you forgot, I mentioned Medivation as a takeover target on little old Tip TV a couple times. Here is the link: http://www.tiptv.co.uk/finance/ma-update-whitbread-breakup-back-on-the-cards-monsanto-one-to-watch/  |
| Top of the market of the (London housing) market? - part 7 Posted: 30 Mar 2016 03:12 PM PDT Friends, readers and contacts who know me well know that I called the London property market right in 2007 (the last top) but ever since then I have called it wrong - as in, I still don't own a London residential property/house/flat. So, for good reasons I have deliberately avoided prognosticating on what might happen with the London property market. However, a friend gets in touch with some interesting views from his property expert contact (when I say expert, I don't mean just any random middle class Londoner who owns a property). I have pasted the "expert" insight below: - Higher stamp duties for more expensive houses. This has already contributed to falls of up to 20% in the £2m-£5m bracket, according to anecdotal evidence. - Annual Tax Enveloped Dwellings ("ATED") - the annual levy for residential property held in non-natural vehicles, introduced a couple of years ago. Originally attached to properties worth £2m+, now reduced or reducing successively to £1m and then £500k. Lowest original band started at £15k pa. but already 50% higher. Top current annual charge for value over £20m is something like £215k. Hits foreigners hardest – anyone wanting to transfer a property out of a company into personal names has to pay stamp based on market value. There is also now a special stamp rate of 15% if property acquired by a vehicle. - Any disposal of UK property now subject to CGT. In the case of foreign ownership the base valuation is as at April 2015 (or thereabouts) - not original acquisition cost. - From next April IHT will operate on a look-through basis – so non doms can't leave shares of an offshore company that happened to own UK property to heirs without any UK tax consequences. - From next month another 3% stamp on second homes and buy to let, which also recently lost tax relief for interest on borrowing. - New Bank of England rules make it much more difficult and expensive for buy to let landlords. - Brexit: it is estimated (by MigrationWatch) that a vote to leave the EU will reduce net migration to the UK by 100,000 per year, cutting the current annual housing requirement by 40%. The majority of that demand is in the South East (Town and Country Planning Assoc figs)." The note concludes: "Call me a fear-monger, but I think that all these could combine to create a property price correction of quite significant proportions."  |
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