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020 7397 2926
Inheritance tax can be a touchy subject – it’s levied at what is (usually) an unhappy time, on assets that have already been taxed multiple times. It’s paid almost exclusively by the middle class, with the wealthy often skirting it altogether. The threshold above which it’s levied hasn’t moved with inflation for the last decade. Half of all estates must fill out pointless, bureaucratic forms despite only 5% of estates owing duties. Whilst painful for the bereaved, it provides less than 1% of the total annual tax raised by the Exchequer. The list goes on.
There have been plenty of theories aired about MiFID II over the last few years, ranging from “Business Largely as Usual” to “Armageddon (MiFID) II”. It’s still not entirely clear where we will land, but the extremes, at least, look like they’ve been discounted.
Theresa May ran into fresh trouble in Brussels on Thursday, with her efforts to persuade her European Union counterparts to sweeten the Brexit deal effectively running aground. Some EU leaders said Mrs. May had failed to set out clearly what assurances she wanted. Others said she was effectively asking for them to re-open the Brexit agreement, something they have repeatedly ruled out doing. In the end, the other leaders offered some encouraging words but appeared to rule out offering any kind of legal assurances to the U.K. to mitigate the parts of the deal most unpopular with British lawmakers. China's business activity mostly slowed in November, as industrial production and retail sales showed renewed weakness, while investment improved slightly. Value-added industrial output in China rose 5.4% in November from a year earlier, slowing from a 5.9% on-year increase in October. November's figure missed economists' median forecast for 5.9% growth.