Panama papers law firm founders begin damage limitation April 5, 2016 The founders of the law firm at the centre of the Panama papers tax evasion scandal have begun damage limitation, calling the investigation a "media witch hunt". In an interview with the Financial Times, Mossack Fonseca founder Ramon Fonseca said the disclosure was undermining legitimacy of offshore companies. Fonseca blamed hackers, and adding that in the [...]
Surprise, surprise: New survey reveals people in Europe want to work in Britain April 5, 2016 Britain is the top destination for European job hunters hoping to launch a career abroad, an analysis of searches by recruitment firm, Indeed, has revealed, while those already here are the least likely in Europe to want to work in another EU country. The research – out today – which looked at millions of jobs [...]
Panama Papers: Jeremy Corbyn says it’s “time to get tough on tax havens” as he attacks government’s record on steel April 5, 2016 In the wake of the Panama papers leak Britain has a huge responsibility and it is time to get tough on tax havens, Jeremy Corbyn has said. As the Labour leader launches his party's English local election campaign, he will say that many of the tax havens are British overseas territories or crown dependencies which need to be clamped [...]
EU referendum: Remain campaign overtakes Leave but results show turnout will determine the result April 5, 2016 Remain has overtaken Leave in the EU referendum, but the outcome will depend on which side can garner better turnout amongst their supporters, according to a new poll. An OBR poll for the Telegraph found that 51 per cent of voters now support Remain, an increase of four per cent from last month. Meanwhile, Leave [...]
Panama Papers: HMRC gears up for Mossack Fonseca data leak fallout April 4, 2016 Global tax authorities are gearing up to deal with the fallout from a leak of more than 11m files from Panama-headquartered law firm Mossack Fonseca – as legal experts warn that any entity with business dealings in the Central American country could potentially find itself receiving a knock on the door from HM Revenue & Customs (HMRC). [...]
English football clubs have never been in better financial health, says study April 4, 2016 English football clubs have left their overspending days behind them and have never been in better financial shape, according to a new study by insolvency firm Begbies Traynor. Increasing revenues from television contracts allied with so-called financial fair play rules, which have forced clubs to live within their means, have slashed the number of teams [...]
Who leaked the Panama papers? April 4, 2016 How do you leak 2.6 terabytes of data? That's 11.5m records, 4.8m emails and 2.1m PDFs – 40 years worth of data, about 214,000 offshore entities and numerous famous names and faces and how they secretly arranged their taxes. The Panama papers leak is the biggest in history – but how did it ever get leaked and who was [...]
Summoning Sports Direct’s Mike Ashley before MPs is further evidence of select committee arrogance – and it’s to all our detriment April 4, 2016 I’m not a great fan of the way Mike Ashley runs Newcastle United, but I would defend his right to refuse to attend the Business, Innovation and Skills select committee. Ashley has excused himself on a number of occasions from meeting the committee, and its members are now considering whether to compel him, under threat [...]
EU referendum: HMRC is going to reveal EU migrant numbers before the vote April 4, 2016 The number of EU migrants working in the UK is to be announced before the referendum takes place, which is likely to show the level of immigration has been underestimated by current statistics. HMRC is to reveal data on how many national insurance numbers are in use by people from the European Economic Area. A [...]
HM Revenue & Customs heaves deep sigh, promises it’s looking into the Panama Papers April 4, 2016 HM Revenue and Customs (HMRC) has said it will "closely examine" data it receives from the so-called Panama Papers leak, and vowed to act on it "swiftly and appropriately". In a statement following a massive leak last night of papers from Panama-based law firm Mossack Fonseca, which purport to reveal how some of the world's [...]