p>The trusts, which are usually stored tax free in offshore havens are used to pay out Christmas bonuses to City employees. With forthcoming changes these bonuses will now be taxed, further reducing the already dwindling payouts.
Alastair Kendrick of Ernst & Young told Accountancy Age: ‘It’s going to be a grim Christmas for a lot of our City workers. The chancellor is really sticking the knife in where it hurts.’
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements