The spat between the government and PricewaterhouseCoopers arose after Peter Wyman, partner in chartge of external communcations at the firm, said changes to double tax rules in the Budget would cost UK multinationals considerably more than the £300m in the Budget – PwC has been attributed with estimates of up to £10bn as the cost of the change.
However, Gordon Brown said on the Breakfast with Frost programme that Treasury officials had proved the firm’s figures wrong in a series of meetings with Wyman.
Other leading firms have also said that the double tax changes could lead to massively increased costs for multinationals, but were less bullish with their calculations.
Also over the last week, a series of new appointments sees a trio of accountants take leading posts at MG Motors, and more taking top roles at northern football clubs.
An Accountancy Age feature this week looks at the world of dot.com investment, and asks, are e-business investors living in wonderland ?