Government Philanthropy Giving Millions in Charity to Arts

Government matches philanthropy funding for £8m investment in museums and galleries.

Museums and galleries across England will be able to bid for a slice of £8 million joint philanthropic and Government funding to improve displays, increase access and enhance public …

Treasury Loses out on £16 billion of Unpaid Tax

Up to £16 billion of unpaid tax has been missed by the Treasury according to a new in depth report. More than half a million companies disappeared last year without paying any tax and in most cases not filing accounting.…

Private Sector Seeks Help from Budget

Manufacturers and retailers have urged the Chancellor George Osborne to help them create growth in the next month’s budget.

The British Retail Consortium (BRC) has said that the retail sector is already struggling with the amount of government imposed costs …

Sage Bookkeeping Software – iXBRL Change

Sage Book Keeping Software iXBRL which was about to be released has suffered a delay. Complications have arisen over the HMRC requirements which initially led to Sage creating another product to allow users to work with the new tax accountancy …

UK Independent Auditors – Pensions Regulator

UK Independent Auditors are not obliged to tell pension scheme trustees about intricate details regarding their schemes. Savers are ultimately responsible for checking and reviewing their own statements and making sure that things are as they expect.

It is essential …

Offshore Bank Account Tax Disclosure

Offshore Bank Account Tax Disclosure is commonly understood to be a grey area in HMRC’s handling of people with offshore bank accounting. In 2007 the government won an appeal from Barclay’s Bank to stop HMRC accessing customer’s accounting. Many who …

Government Boosted By Bumper Tax Receipts

The biggest government financial surplus for more than 2 years has been recorded as healthy income tax receipts last month swelled the treasury’s coffers.

The figures were better than the City had predicted and put the government on course to …

VAT Rise to Cause Inflation Increase

Inflation could rise to as much as 4.2 percent, as the VAT increase takes effect, City economists have warned. Consumer price inflation reached 3.7 percent in December. The rate of VAT increased from 17.5 percent to 20 percent on January …

Tax cuts impossible says Prime Minister

As the government presses ahead with its deficit reduction strategy, Prime Minister David Cameron has ruled out significant tax cuts.

He said that he wanted to offer people relief but said it would only be possible “at the end of …

High Tax Awaits High Earners

Nearly a million people face soaring rates of tax as the government’s deficit reduction plan continues this spring.

James Brownie of the IFS warns that the number of high earners could continue to grow as a result of the Conservative’s …