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MPs want PFIs included in IFRS government reporting

Treasury committee urges government to include PFIs on the book when reporting "whole of government" accounts MPs are demanding the Treasury publish Public Sector Net Debt statistics - calculated according to International Financial Reporting Standards ...

From OUR PARLIAMENTARY CORRESPONDENT, VNUNet.com,  9 Mar 2010

Related Topics: KPMG

Tory vice chairman Ashcroft confirms non-dom status

Tory vice-chairman Lord Ashcroft has come under renewed attack over the extent of his funding for the Tory election campaign after confirming he has retained "non-dom" tax status. He sought to minimise criticism with a new pledge to pay full UK tax if ...

From OUR PARLIAMENTARY CORRESPONDENT, Accountancy Age,  1 Mar 2010

Related Topics: House of Lords,  Nick Clegg,  UK Conservative Party,  Jack Straw,  Electoral Commission

Cabinet office under pressure over Ashcroft tax promise

The Cabinet Office has been given a 35-day deadline [from 1 Feb] to disclose full details of the undertaking Lord Ashcroft gave to become a UK resident for tax purposes when he became a Tory peer ten years ago. Information Commissioner Christopher ...

From OUR PARLIAMENTARY CORRESPONDENT, Accountancy Age,  2 Feb 2010

Related Topics: Cabinet Office,  UK Conservative Party

Darling offers oil companies £1bn tax perk

Cash-strapped chancellor Alistair Darling has offered offshore oil operators tax perks worth nearly £1bn to encourage them to explore and develop oil and gas finds west of Shetland. He announced the extension of the New Field Allowance to £160m per ...

From OUR PARLIAMENTARY CORRESPONDENT, Accountancy Age,  28 Jan 2010

Related Topics: Alistair Darling

MPs move to protect unsecured creditors

Pressure is mounting at Westminster for "fairer" rules governing the distribution of assets from bankrupt businesses. A motion calling for a change in the law to improve the position of unsecured creditors put down by Labour MP Gordon Banks has so far ...

From OUR PARLIAMENTARY CORRESPONDENT, Accountancy Age,  26 Jan 2010

Related Topics: Gordon Banks

Tax amnesty expires today

Deadline today to use government offer Written by our parliamentary correspondent Offshore account holders have only hours left to take advantage of the amnesty guaranteeing a penalty of only 10% to reveal hitherto undisclosed investments to the taxman. ...

From OUR PARLIAMENTARY CORRESPONDENT, Accountancy Age,  4 Jan 2010

Related Topics: Stephen Timms

HMRC writes off £11.2bn in debt

HMRC is writing off £11.2bn of a total of £28bn in tax debt for 2008-09 — £3.3bn more than last year — hampered by outdated IT systems, according to the latest Public Accounts Committee report. Chairman Edward Leigh said the recession "is placing the ...

From OUR PARLIAMENTARY CORRESPONDENT, Accountancy Age,  10 Dec 2009

Related Topics: Edward Leigh

Audit Commission freezes fraud charges

The Audit Commission has announced it is freezing charges to public bodies for checking claims and payments data to prevent fraud. The commission's national fraud initiative matches information from housing benefit claims, pensions and social housing ...

From OUR PARLIAMENTARY CORRESPONDENT, VNUNet.com,  4 Dec 2009

Related Topics: National Health Service

Tax man hits trouble over offshore Mapeley deal

HMRC has hit fresh trouble over its controversial offshore property deal with Mapeley, with a warning from the National Audit Office it is failing to achieve value for money and risks losing more. A second report on the deal involving the transfer of ...

From OUR PARLIAMENTARY CORRESPONDENT, VNUNet.com,  3 Dec 2009

Related Topics: Mapeley,  Edward Leigh,  Inland Revenue,  Customs and Excise

Accountants caught up in bankers pay bill

Accountants could be caught up in government plans to crackdown on the pay and bonus cultures in banks, both as financial directors, senior finance department employees or their advisers. The Financial Services bill proposes giving Treasury officials ...

From PARLIAMENTARY CORRESPONDENT, Accountancy Age,  23 Nov 2009

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