The Liberal Democrats’ Treasury spokesman has called for an independent
review into tax haven use of British banks that have been bailed out.
Lord Oakeshott, spokesman for the Treasury and the department of work and
pensions, wants ministers to disclose the cost of banks operating offshore
subsidiaries, now that the taxpayer is footing the bill.
Britain’s largest banks have extensive operations in tax havens. Lloyds has
more than 125 offshore companies while Royal Bank of Scotland has 238, including
66 in the Cayman Islands and 30 in Jersey.
Meanwhile, RBS owns the Isle of Man bank that prints banknotes for the island
and Coutts, which provides offshore services for wealthy private clients.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
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.