It is obvious that with so much retail trade being carried out during the Christmas period, in some cases over 50 percent in just a few weeks – it is no wonder that retailers are trying to kick things off early. It is said that if America sneezes, we catch a cold – and many of these campaigns have come from the US.Read More
It doesn’t seem that long ago we were making our predictions for the Budget 2014; our very first blog! Eight months on we are now looking to the Autumn Statement which is set to be presented by Chancellor George Osborne on 3 December.
The Autumn Statement has been likened to a mini-Budget in recent years with an increasing number of tax changes being announced early, in anticipation for the full Budget the following spring.Read More
They say a week is a long time in politics but the same analogy could be applied to the legal sector when you consider the recent events since Sarah’s last blog.
The first issue that caught my eye was the news that the chief legal ombudsman (“LeO”) has resigned from his post following what is believed to be a row over expenses claimed in the organisations yet to be published 2013/14 annual accounts.Read More
It’s now nearly 58 years since Prime Minister Harold Macmillan made his famous speech, which included the quote above. He was talking then about the UK economy in 1957 but it could equally apply now to the VAT system in the UK. “Never had it so good” – VAT? Really? Let me explain why, compared to the rest of Europe, our VAT system here is really generous by using a few examples.Read More
Let’s be honest, we’ve all been there. Despite having every intention of getting the Christmas shopping out of the way early life has a habit of getting in the way and you still find yourself rushing around in the crowds on Christmas Eve.
The same applies to completing your tax return, with over half a million people filing theirs on the last possible day in January.Read More
I am an avid fan of The Apprentice, and whilst I am aware that the programme is edited to ensure viewer enjoyment, it can draw out some valuable business lessons. A recent episode intrigued me. It was entitled “Coach Tours”; each team was provided with a 25-seat coach and tasked with organising and selling day trips to London tourists.Read More
Both the Financial Conduct Authority (“FCA”) and the American Commodity Futures Trading Commission (“CFTC”) have announced further big fines on banks this time for foreign exchange (“forex”) rigging. The UK regulator has fined five banks £1.1 billion and the US fined the same five – JPMorgan, Citigroup, UBS, RBS and HSBC – $1.Read More
This week, there are two notable updates which I will cover. Firstly relating to how the Foreign Account Tax Compliance Act (“FATCA”) provisions affect Solicitors Client Accounts.
Our in-house expert, Chris Richardson, recently published a blog post providing a general update and overview of FATCA.Read More
I recently attended a seminar titled “Building the Law Firm of Tomorrow” organised by Barclays Bank in Ipswich. The speakers were Viv Williams, CEO of 360 Legal Group and Larking Gowen’s Jon Woolston. It was attended by over 30 local solicitors and covered a lot of topical issues and challenges currently facing law firms.Read More
Back in April I highlighted the Foreign Account Tax Compliance Act provisions (better known as FATCA) as introduced by the US, and the far reaching impact on financial institutions in the UK. It’s fair to say since then we have seen much professional debate coupled with a degree of inertia with some hoping the whole thing will go away.Read More