CHANCELLOR GEORGE OSBORNE wants backing from EU finance ministers before imposing new bank bonus rules, in what is being seen as a further attempt to downplay the Government’s “tough on banks” stance in response to City pressure.
The move comes as it has emerged that officials are in talks with the banks over a contribution of around £1bn to a “Big Society bank”, that would go towards community projects in exchange for the government quietly agreeing not to impose new rules without international agreement, reported The Independent.
Critics have reacted furiously, accusing the government of “going soft”, despite pledging a “get tough” stance on banks in the run-up to the General Election, the newspaper also said.
Osborne is writing to the EU’s financial services chief Michel Barnier and his fellow finance ministers to seek support to force banks to disclose in progressive “pay bands” how many people they pay more than £1m.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...