Accountancy Age reports:
The Financial Reporting Council’s plans to ensure it will never pay costs on disciplinary cases offend ‘natural justice’, senior sources in the profession have said, as disillusionment with its new disciplinary body grows.
There are two obvious responses:
1) As ever with the profession, do not complain, propose something better, and
2) They’re right: this is [...]
This is the text of the Chancellor’s statement on capital gains tax, to be made today:
CAPITAL GAINS TAX
CHANCELLOR ALISTAIR DARLING’S STATEMENT
24 JANUARY 2008
With your permission, Mr Speaker, I would like to make a short statement on capital gains tax reform.
Mr Speaker, following discussion, I am today announcing the introduction of a new capital gains tax [...]
I was fascinated to read the following (which I have cut considerably):
The papers have been full of reports of how auditors are going to take a tough line with banks and the valuations they attribute to those troublesome derivatives when they start reporting in earnest in a few days. Clearly, they are terrified of being [...]
These are my links for January 23rd:
Sow the seeds of healthy eating for your family and reap the benefits | The Observer - Just found this quote from me - on an unlikely subject - but entirely true, nonetheless.
The free-marketeers abhor the crutch of the state - until they start limping | Guardian - Jonathan [...]
Accountancy Age reports:
The National Audit Office (NAO) has found the Department for Work and Pension (DWP) spent £154m in 2006-07 to identify an estimated £106m of fraudulent claims after examining six of the most important counter-fraud activities for their cost effectiveness.
NAO found the department had cut estimated benefit fraud from £2bn to £800m a year [...]
The Jersey Evening Post published this yesterday (no sustainable link):
FINANCE experts were this morning telling Islanders not to panic amid reports of plummeting share prices around the world. As the front pages of national newspapers sparked fears of recession and billions of pounds were wiped from the value Britain’s stock market, the message locally was [...]
These are my links for January 22nd:
FTSE falls - graph - I’ve long felt the stock market seriosuly over-valued and have been right out of it. It’s taken a long time for it to agree, so I admit I got my timing wrong. But the graph tells it all, and it will gte worse.
BBC NEWS [...]
CCH have issued a press release, which seems to have been posted in full on AccountingWEB, saying (in part):
HMRC has raised £415.3 million through investigations into business self-assessment forms over the past year, a 35% increase on last year when it netted £308 million in additional tax, interest and penalties, according to calculations made by [...]
Markets think that the monoline insurers who guarantee the risks on bonds might be about to go bust.
This is worrying. The whole point of monoline insurers was that they were meant to guarantee things like local authority bonds and simple company bond issues where the risk was effectively all in one market (hence ‘monoline’). The [...]
Mondaq.com has an article by Katherine Shea of Cains, Solicitors of the Isle of Man, which says:
Latest figures released by research agency Hemscott show that, of the non-UK top 100 companies listed on the London Stock Exchange Alternative Investment Market (AIM), by far the greatest number are incorporated in the Isle of Man, equal to [...]
