The publication of the Government’s White Paper in July 2018, setting out the Future Relationship Between the United Kingdom and the European Union, saw a dramatic change of direction as a mutual recognition model for financial services was dropped from the negotiation objectives and instead replaced with a desire to improve the EU’s current arrangements surrounding equivalence.
Amyas Morse, the Comptroller and Auditor General, head of the National Audit Office, has issued a report on the 2013-14 accounts of HM Revenue & Customs. The report describes how HMRC deploys its compliance resources and measures and reports the impact of its compliance work. It also covers HMRC’s progress in operating the PAYE service and its implementation of its new Real Time Information service and its performance in tax collection and in reducing error and fraud in personal tax credits.
Hong Kong’s official foreign currency reserve assets grew by US$700 million to US$320.9 billion in June, the Hong Kong Monetary Authority have announced.
The Financial Reporting Council (FRC) have announced the closure of the investigation into the conduct of Christopher Moore, a former Member of the ACCA and former executive of Torex Retail plc (Torex).
HMRC have released a Tax Information and Impact Note explaining a change to UK VAT law for businesses who believe they are unable to submit their VAT returns online.
Asia puts a 'Germany' on the map every 3.5 years in terms of economic size and will add three Euro zones in 25 years, said David Carbon, chief economist of the DBS Bank, during the DBS Asian Insights Conference 2014 held in Singapore on 4 July 2014.