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  • 2012
    • May
      • Calls to End Quantitative Easing Premature
        05/18/12
        A Bank of England policymaker, Adam Posen, has admitted that he may have been premature in dropping his call for additional stimulus last month, adding that the underlying economy could be weaker than he initially thought.

        The Bank of England, who restarted its quantitative easing asset p

      • HMRC Tax Chiefs to Leave
        05/17/12
        According to reports, four of the top five civil servants at HMRC are expected to leave this summer, in a spate of departures that will strip the department of its most experienced tax professionals.

        The departures are said to come at the same times as a reshuffle of HMRC’s management fol

      • New Bank Rules Agreed
        05/16/12
        European Union finance ministers have agreed on tougher capital rules for banks, which are intended to make them stricter, eliminating the need for future bailouts by aiming to prevent another financial crisis.

        The agreement, which was reached in Brussels yesterday (May 15th 2012) is seen

      • Fuel Duty to Rise as Treasury Faces Tax Shortfall
        05/15/12
        According to a report whose findings have recently been published, motorists could face a fifty percent rise in fuel tax over the coming years, as the Treasury look to cover a £13 billion hole, caused by the increased use of environmentally friendly vehicles.

        The RAC Foundation commission

      • Interest Rates to Stay At Record Low Until Next Year
        05/14/12
        Sir Mervyn King, the governor of the Bank of England is expected to signal later this week that interest rates will not rise from the record low of 0.5 percent, until late next year at the earliest, as UK growth continues to disappoint.

        Last week, the bank signalled that interest rates wo

      • UK Companies Strike Tax Deal With Luxembourg
        05/11/12
        The BBC’s Panorama programme has found that major UK-based firms have cut tax deals with authorities in Luxembourg to avoid paying millions in corporation tax here in Britain.

        Confidential tax agreements obtained by the programme detail plans to move profits off-shore to avoid what was, a

      • HMRC Under Fire
        05/10/12
        HMRC have come under fire this week from industry associations who accused the tax office of “missing a great opportunity”, following their attempts to clarify controversial anti-avoidance rules affecting contractors.

        Tests, such as the twelve business entity test, which promised by HMRC

      • Charity Tax to Cost Over £1 Billion
        05/09/12
        New research into the government’s controversial charity tax proposal has revealed that total cost of the government's decision to cap tax relief on charity donations could be as much as £1.5 billion a year; and would also lead to over 10,000 job losses at charities.

        The latest resea

      • Is the Bank of England Hurting Recovery with QE?
        05/08/12
        A leading economic consultancy firm has warned that the Bank of England could be harming the UK’s economic recovery with its quantitative easing programme, having previously misdiagnosed the problem.

        It has been claimed by the economic consultancy firm that the level of UK growth witnesse

      • Top Rate Tax Should be Forty Eight Percent
        05/04/12
        A former senior Whitehall mandarin claimed yesterday that raising the top rate of tax to forty eight percent would bring in maximum revenue for the Treasury.

        Lord O’Donnell, who stepped down as Cabinet Secretary last year, suggested that the government’s Budget decision to cut the rate fr

      • Economy to Return to Growth
        05/03/12
        A leading business group, the CBI, have said that it expects the UK economy to return to growth in the second half of this year; whilst also predicting faster growth in 2013.

        The CBI revealed that optimism amongst businesses had picked up since the start of the year, whilst demand for man

      • Mortgage Approvals Rise
        05/02/12
        Data released by the Bank of England today has revealed that during March 2012 approvals for home loans throughout the UK rose, showing promising signs of recovery despite the end of a tax exemption for first-time buyers.

        Economists had expected mortgage approvals to fall slightly followi

      • Tax Helpline Calls Unanswered
        05/01/12
        The Treasury have revealed that one in four phone calls to a tax helpline fail to get through, despite HMRC providing taxpayers with the telephone numbers to call if they require help, advice or information regarding tax.

        Whilst the 0845 numbers offered by HMRC are automatically answered,

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