The NHS has ended its controversial accounting regime that hit NHS trusts
twice if they posted a deficit.
of Health chief executive, said the end of the regime followed
Audit Commission recommendations to make a change. Reversing the regime, known
as resource accounting and budgeting,
ploughs £178m back into local NHS.
Commission said the old accounting rules were unfair because of the
‘double whammy’ effect under which overspending trusts not only had to pay back
their debts but received less income the following year as well.
‘The majority of NHS trusts have improved their financial performance over
the last year, meaning we are now in a position to complete modernisation of the
NHS financial regime,’ said Nicholson.
Overall, the NHS is expected to post a £13m surplus for the financial year
ending April, compared with a £547m deficit a year ago.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy