Chancellor Gordon Brown faces a battle with the EU over a rescue deal for MG Rover that involves a multi-million pound tax break, reports the Times.
Brown is in China lobbying for a conclusion to talks between MG Rover and Shanghai Automotive Industry Corporation (SAIC). He said yesterday that MG Rover will get special ‘tax flexibility’.
‘I do understand that discussions between Rover and Customs & Excise have been helpful,’ Brown said. ‘I can confirm that Rover can benefit from flexibility in the tax system.’
But preferential treatment given to individual companies is illegal under EU competition rules. The European Commission yesterday said that any financial support by the government would be scrutinised by its competition lawyers.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016