It has long been accepted that businesses can and do make mistakes on their VAT returns from time to time. As long as the amount of VAT in question was under £2,000 they didn’t have to declare the error but could just correct it on the next return they filed. If the amount involved was [...]
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As criticism of Tony Hayward grows and with President Obama throwing his toys out of the pram with increasing regularity, many people are wondering what this shows us about the leadership qualities – or lack thereof – of both men. But who is to blame for this disaster? This post has grown from several comments [...]
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The Enterprise Investment Scheme offers generous income tax and capital gains tax reliefs to investors in certain companies. These reliefs are available to “qualifying individuals” who subscribe for “eligible shares” in “qualifying companies” undertaking “a qualifying business activity”. Simple, isn’t it? The purpose behind the scheme is to encourage investment in start up companies and [...]
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Yesterday, the Financial Reporting Council (FRC) published a revised version of the UK Corporate Governance Code (formerly the Combined Code). This new edition of “the Code” takes effect for financial years beginning on or after the 29th June 2010. The Code applies to all companies with a Premium Listing on the London Stock Exchange including [...]
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The Institute of Directors has today called on George Osborne to consider and adopt seven “keys to success” which they say will need to be delivered by the Chancellor in the forthcoming emergency Budget. By adopting the 7 keys to success the IoD say that the Chancellor would help accelerate economic recovery. However failure to [...]
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Now that George Osborne has finally made it to 11 Downing Street and is planning his “Emergency Budget”, I hope he look seriously at reducing the headline rate of Corporation Tax in order to attract international businesses to the UK as well as stemming the flow of UK companies moving their tax residence elsewhere. The [...]
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