How a growing procurement footprint can increase your tax footprint January 17, 2020 | City Talk Procurement functions are more connected to the business than ever before and impact almost every aspect of the organization. These connected procurement functions have already gained a voice in areas such as managing group demand, maintaining supplier relationships, overseeing raw material quality, and strategically sourcing goods and services. In recent years, there has been an [...]
EY TaxChat: making Self Assessment quick, easy and cost effective January 17, 2020 | City Talk According to HMRC, 11.5m UK taxpayers were required to complete a Self Assessment return in 2019. EY research¹ shows that many worry about getting something wrong if they do it themselves (33 per cent) and find the process complicated and time consuming (15 per cent). A further 12 per cent also said they can’t afford [...]
How tax is transforming in the digital age January 17, 2020 | City Talk Driven by a desire for more revenue, greater efficiency and improved compliance in an atmosphere of shrinking resources, tax authorities are increasingly relying on digital tax data gathering and analysis — using digital platforms to facilitate real-time or near real-time collection and assessment of taxpayer data. This move toward tax “digitalisation” is allowing tax authorities [...]
EU could force Apple to ditch iPhone charger January 17, 2020 Apple could be forced to abandon the Lightning connector, as the European Parliament mulls the introduction of a common charger to fit all devices Members of the European Parliament (MEPs) will debate the issue on Monday, calling for a charger that will “fit all mobile phones, tablets, e-book readers and other portable devices”. According to [...]
Carlos Ghosn lawyers hit out at Nissan’s spending accusations January 17, 2020 Former Nissan boss Carlos Ghosn’s lawyers have rebuffed the car manufacturer’s accusations that their client spent €3.8m (£3.3m) of the firm’s money on personal expenses. These included trips to Rio de Janeiro carnivals, dinners at the Marmottan Museum in Paris, jewellery purchased at Cartier stores and a party at the Palace of Versailles, Nissan said. [...]
BT and Vodafone ‘support Huawei involvement’ in UK 5G network January 17, 2020 BT and Vodafone are reportedly set to support Chinese telecoms firm Huawei’s involvement in the UK’s 5G network. The companies are preparing a letter to be sent to the Prime Minister to lobby him to support the move, saying a ban on Huawei could stunt the growth of the UK’s digital economy, Sky News reported. [...]
Brexit will not affect holidays to the EU, says travel industry January 17, 2020 The UK’s travel industry body has stressed “nothing will change” for British tourists booking holidays to the EU until the end of 2020. ABTA, which represents thousands of travel firms, discovered that one-third of Brits are unsure about the impact of Brexit on their travel plans. So it has updated its advice on how Brexit [...]
Central London property investment soars after General Election January 17, 2020 Investment in central London’s office market soared in December, after the result of the General Election sparked a flurry of deal activity. The £4.9bn invested in the fourth quarter of last year was a 125 per cent jump on the amount invested in the previous quarter and was on par with 2018. The Conservative general [...]
Government launches initiatives to boost City investment in Africa January 17, 2020 International development secretary Alok Sharma today announced a range of initiatives to spur the City of London to boost investment in Africa by billions of pounds. The schemes include a competition for fund managers to identify new investment products for Africa, as well as money to improve the financial systems and regulations of 45 developing [...]
HSBC reportedly set to cut around 100 jobs in equities business January 17, 2020 HSBC is reportedly cutting around 100 roles in its equities business, with the bulk of the layoffs expected to fall on continental European trading floors. The cuts will be across the bank’s equities research, sales, trading, and back office businesses, Reuters reported, citing sources familiar with the matter. The lender is planning to refocus its [...]