It’s not just York accountants that are concerned about tax. The Archbishop of York, Dr. John Sentamu,  spoke recently on tax avoidance, in a statement he made highlighting ‘city greed’. To curb tax avoidance he suggests we publicise how much tax we pay. The Guardian has quoted  Archbishop Sentamu, as follows:

 

My second suggestion concerns tax avoidance.  The idea came originally from someone who, despite his wealth, regards tax avoidance as unethical.  He suggested that a tick box should be added to tax forms which you would tick if you were willing for the amount you paid in tax to be made public.  The idea was, on the one hand,  to encourage people to take pride in the contribution they made through the tax system to the wellbeing of society, and on the other, perhaps to make people a little ashamed if they did not tick the box. Not to tick the box would suggest that you felt you had something to hide.  Given the government’s attempts to reduce the public spending deficit, each thousand pounds of tax avoided presumably means an additional thousand pounds of cuts to public services on which the least well off are particularly dependent. [Archbishop of York, Dr. John Sentamu]

 

Read more on Archbishop Sentamu targets City greed

 

Chartered Accountants Doubtful On Autumn Statement.

BBC Business has a At A Glance Key Points list which includes:

ECONOMIC GROWTH

2011 forecast revised down to 0.9% from 1.7%

2012 forecast revised down to 0.7% from 2.5%

In 2013, 2014 and 2015, forecast growth will be 2.1%, 2.7% and 3%

GOVERNMENT BORROWING

Extra £111bn in borrowing over five years

Borrowing forecast to be £127bn in 2011-2, falling to £120bn, £100bn, £79bn and £53bn in following years

Debt to GDP ratio to peak at 78% in 2014-5, falling afterwards

 

What impact will this have on British Business and the UK small and medium sized enterprises? Read more of BBC News’ At A Glance Autumn Statement summary

 

UK Accountants See Retail Sales Fall at Fastest Pace in Almost Three Years.

U.K. consumer confidence fell to a record low in October as Europe’s debt crisis and the unemployment outlook worsened, Nationwide Building Society said on Nov. 17. Bank of England policy maker Martin Weale said last week there may be a “strong case” for policy makers to expand stimulus again. Governor Mervyn King is due to answer lawmakers’ questions on the outlook for the economy at a parliamentary committee today.

Read More

 

Magistrates ordered Anthony Paul, Southend, to complete 240 hours of unpaid work, and to pay £80 towards court costs due to his recent benefit fraud scam. He admitted supplying false statements to obtain £5,307.48 worth of Housing Benefit he was not entitled to,  so he must also pay back the full amount of this overpayment.

Read More

 

The FTSE 250-listed company, Homeserve, which insures against and repairs burst pipes, broken down boilers and electrical problems, suspended telephone sales last night after a review by accountants Deloitte. Chief executive Richard Harpin, who lives near York, said: “We are determined to ensure customers receive the highest standards of service and we have therefore taken swift action to address the issues identified by our review.”

Read More Here

 

On top of his MP’s salary of £60,000, Vince Cable earned a windfall of something over £150,000 as a self-employed freelance that put him well into the VAT-liable category. But he didn’t spot it. A year after he/she should have done, you may think, the VAT threshold is a pretty well-known issue. But we all make mistakes, even accountants. Cable promptly owned up and paid up, an additional tax bill of “less than £15,000″ according to HMRC, as well as a £500 fine – half the maximum because he’d drawn the error to HMRC’s attention himself and clearly had not intended to avoid his tax liability. Oh yes, there’s another detail. About half the extra income was given either to charity or to his Twickenham constituency party.

Read More

 

Truro-based company, Cornish Mutual, has spent nearly half a million pounds on implementing a new insurance policy administration system, deploying a new IT infrastructure and upgrading its telephony. Using the latest technology will allow the company, which has over 23,000 Members across Cornwall, Devon, Somerset and Dorset, to be more flexible and self-sufficient in designing and offering new products and services in the future.

Read More

 

When Liam Fox departed into orbit on the wrong end of a Sidewinder missile and  David Cameron had to do some ministerial changes,  Chloe Smith, 29, was promoted to the Treasury. Having once worked for accountants Deloitte Touche, she is presumably good at sums. Fiona Mactaggart (Lab, Slough) was not in generous mood towards Miss Smith. She said that unemployment was now at its highest since George Osborne had been at university, ‘which was probably when the Hon Lady left primary school’. Miaow!

Read More

 

The surge in supply is a consequence of expanding natural gas output and oil refining, which produce LPGs as a byproduct. While returns on the biggest ore carriers fell 87 percent in the past three years and owners of some of the largest crude tankers are paying clients to hire their vessels, LPG ship rates almost doubled this year. Orders at yards in South Korea, China, Japan and Brazil for new LPG vessels are equal to 10 percent of existing capacity, the smallest ratio of any type of commodity carrier, according to data from Redhill, England-based IHS Fairplay.

 

Barringtons, which has offices in Newcastle in Staffordshire and Market Drayton and Newport in Shropshire, offers expert advice on VAT and customs duties, tax planning, litigation support and through their associated company BCR, insolvency and corporate recovery.

Read More

 
iBlog by PageLines