I have £200 which is now about $400 to spend on a guitar. I play modern punk. I want something which has amazing tone, im using a vox DA5 which goes into a crappy 40 watt amplifeier, but i wont be using the tone of the 40 watt amp just the volume.

uh u won't get amazing tone for £200, but i love my squier affinity fat strat
I have that and it does the job. The thin neck isn't for everyone though, I don't like it much anymore :/

flickr you might
Quote by MrCarrot
Oranges are actually a revolution though - they're the next step from Rectos IMO.
Most of your tone comes from your amp! Even a custom Les Paul will sound pants on a crap amp so you may want to look at upgrading your amp before buying a new guitar.
If you really want a new guitar your best bet is to save another £50-£100 and get an Ibanez SA. I used to have one and it worked really well for hard rock/punk.

In all honesty though punk and amazing tone don't go hand in hand.
Dave Mustain has wrote some of the most amazing solos...
That he can't actually play!
You'd be best buying a new amp first. Look at maybe a MG or Cube or something within those guidelines.