Non-residents working for UK banks could also find their bonuses slashed by
the 50% tax unveiled last week in the pre-Budget report.
Tax experts say the vague wording of the proposal, which forces banks to pay
a 50% tax on all bonuses over £25,000, could mean employees based overseas who
jet into the UK are also caught in the net, the
Arun Birla, head of UK tax at law firm Paul Hastings told the paper: “This is
extremely worrying. The new legislation is shifting the tax nexus to the UK and
opening a transatlantic can of worms.”
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.