The Association of British
Insurers has warned the Treasury that Britain’s standing as a leading
financial centre is in danger of being undermined by its changes to tax and
ABI and the CBI made separate warnings, saying that, if the government made
hasty changes to banking regulation and pushed ahead with changes to the tax on
capital gains and non-domiciled workers, the financial services sector and the
country’s reputation would be damaged, The Times reports.
‘The US responded to the collapse of Enron with the Sarbanes-Oxley
legislation, with seriously damaging consequences for the American corporate
sector. We could be about to make the same mistake,’ Richard Lambert, CBI
director-general, said in a speech to the City. ‘Ill-thought-out legislative
responses to financial shocks can have very damaging consequences.’ he said.
The ABI reiterated its call for a compromise agreement for investment bonds
in the light of changes to CGT measures.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay