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‘Thin cap’ rules could cost the HMRC hundreds of millions
24 November, 2009
It has recently been predicted by some leading accountants that a High Court ruling brought against the HMRC by companies that include IBM, Volvo and Siemans could see the taxman paying hundreds of millions of pounds in damages.
A budget within 50 days, promised by David Cameron
22 November, 2009
David Cameron, leader of the Conservative Party has promised an emergency budget within 50 days if they win the parliamentary election as is widely expected.
VAT anti avoidance rules
15 November, 2009
The Finance Act 2009 includes rules to prevent businesses from manipulating the change in rate.
HMRC is reviewing inheritance tax
14 November, 2009
Prediction by a law firm has it that the HMRC (HM Revenue & Customs) will be clamping down on inheritance tax. This could mean estates will face heavy fines.
Professionals ignoring digital communication in business are missing the point
13 November, 2009
With the growing importance of digital communication professionals could be missing the importance of online advertising which is a growing industry in the recession.
HMRC introduces a series of toolkits
12 November, 2009
The toolkits are based on the most common errors seen and will help agents get returns right first time, which will reduce the need for compliance checks.
Tax Information Sharing Rules pressed ahead by EU
11 November, 2009
Anders Borg - Minister for Finance will chair the ECOFIN meeting on Tuesday 10 November 2009. One of the key issues to be discussed is the further handling of the financial and economic crisis.
PFI arrangements being assessed by the House of Lords
10 November, 2009
The PFI (private finance initiative) is a method to provide financial support for public-private partnerships. The Economic Affairs Committee at the House of Lords now need to establish whether PFI is delivering on value for money and if risk transfer is real.
Tobin tax transactions dying a slow death
08 November, 2009
The original proposal for the Tobin tax rate was 1%, which was subsequently lowered to between 0.1% and 0.25%. It was named after the economist James Tobin, and was intended to put a penalty on short-term speculation in currencies.
Chairman of SEC, Mary Schapiro backs the IASB-FASB agreement
06 November, 2009
Chairman of the SEC (US Securities and Exchanges Commission) Mary Schapiro, said in an interview on 5 November that she was encouraged by a renewed commitment by the US and international standard setters to transparency and arriving at agreed accounting standards.