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24th May 2013

IFRS Foundation cuts provision for HMRC tax inquiry

THE OVERSIGHT BODY of global standard setter the IASB has cut its provision for a HMRC investigation into its employment tax obligations. According to its latest annual accounts, the IFRS Foundation said it was able to cut its provision to cover a HMRC investigation into the taxation of staff and...

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24th May 2013

Drop corporate tax rate to 10%, say Conservative MPs

THE CORPORATE TAX RATE should be dropped to 10%, with much of the tax code re-written in order to compel foreign businesses to contribute the same amount as UK companies, according to the Free Enterprise Group of Conservative MPs. In a report published today, the influential group of 40 senior Con...

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24th May 2013

Two Chesterfield accounting firms shut down

TWO CHESTERFIELD ACCOUNTANCY FIRMS found to have put clients' money at risk through poor business practices have been wound up in the public interest by the High Court following an investigation by the Insolvency Service. TAG (Chesterfield) Limited and The Recovery Partnership Limited were found t...

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24th May 2013

KPMG: Pension liabilities climb by 60% over five years

PENSION LIABILITIES continue to outstrip asset performance, despite assets performing well over the period, a survey by KPMG has found.  According to the KPMG 2013 Pensions Accounting Survey, since January 2008, liabilities calculated on an IFRS basis have increased by more than 10% per year co...

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24th May 2013

Alan Milburn takes PwC health role

FORMER HEALTH SECRETARY Alan Milburn has joined PwC's newly-created Health Industry Oversight Board as its chairman. The board has been created as part of the firm's new health industry sector, pulling together its service lines in public and private health, pharmaceutical and life sciences. Milbu...

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