LSBF Blog - Global Matters

FCA to study if investment managers offer good value

November 18 ,2015 | by Claire Payne

The Financial Conduct Authority (FCA) has announced an investigation into whether consumers are being well served by companies investing savings and administering pensions.

The UK's financial regulator wishes to ensure that consumers are getting good value for money from asset managers, as well as professional individuals, who provide financial advice.

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‘Affluent’ taxpayers unit manpower increased by HMRC

November 18 ,2015 | by Hari Sri

Accountancy firm Moore Stephens has noted how the wage bill for HMRC's Affluent Unit inspectors rose 68%, from £7.8m to £13.1m, across the time period 2012/13 to 2014/15.

Over the same period, the specialist unit's headcount increased by 54%, from 213 to 327, as part of increased efforts by the authority to tackle tax avoidance crackdown.

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VAT rules for crowdfunding agreed upon by EU states

November 18 ,2015 | by Thiago Kiwi

Representatives from EU member states and the EU Commission making up the EU VAT Committee have agreed on a framework for rules on the value-added tax treatment of crowdfunding.

The term, which covers the process of raising funds for a specific project via an online open call for contributions, is run over specialist peer-to-peer sites that put entrepreneurs and contributors in touch with one another.

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Selecting the right MBA for you

November 17 ,2015 | by Dr Steve Priddy

Dr Steve Priddy, Director of Research at LSBF, offers his advice to those deciding which MBA best fits their career plans.

 

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“Balanced approach” needed for open book accounting, says outsourcing association

November 17 ,2015 | by Thiago Kiwi

The National Outsourcing Association (NOA) has criticised a recommendation from the National Audit Office and CIPFA in a submission to ministers.

According to the NOA, the government should take a “balanced approach” to Whitehall outsourcing reforms, which includes moves to open book accounting to ensure the continued provision of public services.

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Survey shows North/South split for CFO optimism in Europe

November 17 ,2015 | by Hari Sri

A biannual survey that collates results of other surveys run by its member firms across 15 European countries has found a North/South split when it comes to how optimistic European CFOs are about the future.

Deloitte's latest European CFO Survey takes into account the views of 1,298 CFOs and reveals a distinct geographic line that divides those who have a positive outlook and those who think things are less likely to go well.

 

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Industry myths hinder female talent in insurance sector, survey claims

November 17 ,2015 | by Claire Payne

Female business students are deterred from the idea of entering the insurance sector due to numerous industry myths, according to Deloitte.

The Big 4 business advisory firm's new 'Deloitte Talent in Insurance Survey 2015' revealed that women were underrepresented by 11.2% among business students inclined towards insurance this year.

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FTSE 250 analysis reveals director bonuses

November 16 ,2015 | by Claire Payne

Executive pay has recently come under scrutiny from different angles, including shareholders, investors and regulators. This has led to some significant changes taking place amongst FTSE 250 companies.

The alignment between investor goals and the short-term interests of senior executives has been the focus of Deloitte's latest analysis of the FTSE 250.

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Oil excess hits record high of 3bn barrels

November 15 ,2015 | by Hari Sri

According to the International Energy Agency (IEA), the pressure on oil prices is likely to extend into next year due to a record glut on the global market.

The latest monthly report from the IEA said that stockpiles now stand at a record three billion barrels. The news affected the European stock markets on Friday, with the FTSE 100 dropping by almost 1%.

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New study on oil and gas industry released

November 14 ,2015 | by Thiago Kiwi

The results of a new study by Big 4 firm Deloitte has highlighted the state of the supply-chain between the oil and gas industries.

The highly respected business-advisory group, under which tens of thousands of dedicated professionals in independent firms throughout the world work together to provide services, has called for action to make sure the UK economy reaps the full benefits of the country's natural resources.

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Video: Great Minds Series - LSBF interviews VTB Capital Plc's Masroor Haq

November 13 ,2015 | by LSBF Blog Staff

VTB Capital’s International Head of Infrastructure Capital and Project Finance, Masroor Haq, believes that education plays an important role when it comes to banking industry talent.
 
Speaking with London School of Business and Finance (LSBF) as part of its Great Minds interview series at VTB Capital’s London headquarters in Bank, Mr Haq said that education can provide aspiring bankers with the tools they need to succeed in the industry.

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Institute of Directors supports HMRC restructuring plans

November 13 ,2015 | by Claire Payne

The Institute of Directors has supported wide-ranging plans announced by HM Revenue and Customs (HMRC) to restructure its operations.

HMRC aims to produce a better service for taxpayers and cut down on costs at the same time, winning the backing of the influential group.

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OECD upgrades tax transparency rating for Seychelles

November 13 ,2015 | by Thiago Kiwi

The Organisation for Economic Co-operation and Development (OECD) has recently released a report noting improved adherence with international standards from Seychelles in regards to sharing information with other tax authorities.

The OECD Global Forum on Transparency and Exchange of Information for Tax Purposes included the new overall rating of "Largely Compliant" in a report that looked at the jurisdiction alongside Cyprus and Luxembourg. The three had previously been rated non-compliant and were praised for making positive changes to their legal frameworks or practices.

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New guide to improving diversity and inclusion in the workplace published

November 13 ,2015 | by Erin O’Neill

A Diversity and Inclusion Guide for Businesses has been published by The Professional Business Service Council (PBSC), aimed at helping companies to improve their workplace.

The importance of embracing diversity and inclusion in the workplace is stressed as a way of attracting and retaining the most talented staff.

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5 benefits interim professionals bring to businesses

November 12 ,2015 | by LSBF Blog Staff

In a market where skilled professionals are a scarce commodity, businesses are relying on interim resources to meet growth plans.

Today, change is a constant. As a result, businesses of all sizes and in all industries are increasingly looking beyond their conventional model of hiring by including interim professionals as part of their recruitment strategy.

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ICAEW issues one hundredth alternative business structure licence

November 12 ,2015 | by Thiago Kiwi

The Institute of Chartered Accountants in England and Wales (ICAEW) has reached the milestone of issuing its 100th alternative business structures (ABS) licence.

The award went to Tiffin Green Limited and was reached after only a year of being granted powers to regulate firms who want to conduct probate and form an ABS.

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£15bn National Grid to appoint Deloitte as auditor

November 12 ,2015 | by Hari Sri

The £15 billion international gas and electricity giant National Grid is set to appoint Big 4 firm Deloitte as its auditor for the year ending 31 March 2018.

The move will see the firm take over the account from fierce rivals PwC, the current auditor, in just the latest round of skirmishes between the main players in the UK accountancy sector. 

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Standard & Poor's keeps AA+ credit rating for Guernsey

November 11 ,2015 | by Erin O’Neill

Guernsey in the Channel Islands has had its credit rating fixed at AA+ by Standard & Poor's, the American financial services company.

The rating is the highest level that jurisdictions without their own currency are able to achieve under the ratings system in place at the moment.

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Black Friday deals anticipation slows October retail figures, shows report

November 11 ,2015 | by Claire Payne

The latest figures from the BRC-KPMG Retail Sales Monitor suggest that consumers might have been holding back for looming Black Friday deals.

According to the report, like-for-like retail sales in October fell 0.2% year on year. However, total food sales bucked the trend by growing 0.5% over the three months leading up to October and by 0.3% year on year to achieve their best performance since July 2014.

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Better deals called for businesses to reclaim fleet VAT costs

November 11 ,2015 | by Thiago Kiwi

HM Revenue and Customs has been urged to support a call from the British Vehicle Rental and Leasing Association (BVRLA) to allow businesses to reclaim 60% of the VAT paid out on hire or lease costs.

The trade body, which is responsible for companies engaged in the leasing and rental of cars and commercial vehicles, carried out a survey that backs up their case for a change in the rules.

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ICAEW to get new local audit regulatory powers

November 10 ,2015 | by Hari Sri

Recognised Supervisory Body status has been granted to The Institute of Chartered Accountants in England and Wales (ICAEW) by the Financial Reporting Council (FRC).

This means the UK accountancy sector body now has new powers that will allow it to regulate firms who are looking to undertake local audits for clients, including councils and health bodies.

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Global economic confidence at four year low, shows survey

November 10 ,2015 | by Erin O’Neill

A worldwide survey of finance professionals carried out by The Association of Chartered Certified Accountants (ACCA) has found a sharp drop in positivity from business in the third quarter of 2015.

The global body for professional accountants' new report reveals that economic confidence on an international level is at the lowest in four years.

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PwC to give tax lessons to 50 London sixth formers

November 10 ,2015 | by Thiago Kiwi

Around 50 sixth-form students attending various London schools have been invited to Big 4 firm PwC’s offices to get lessons about taxation in a pilot project.

The new initiative, aimed at encouraging learning all about tax from a young age, uses interactive sessions and games to give students a grounding in the subject.

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Time is right for SMEs to borrow, says Deloitte report

November 09 ,2015 | by Hari Sri

Because of what Deloitte describes as a “borrower-friendly market”, the Big 4 firm says that SMEs should consider taking loans out now to fund expansion plans.

As credit availability rises to a near seven-year high while the cost of credit falls towards an eight-year low, the UK banking market is “buoyant”, according to the company's latest analysis.

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Buy-to-let still a healthy investment, says PwC report

November 08 ,2015 | by Helen Gould

New research from PricewaterhouseCoopers says that the lettings market will not be adversely affected by the end to some tax relief that landlords can currently claim.

The Big 4 firm found the Government’s reduction of mortgage interest tax relief for landlords is unlikely to stop the continued popularity of buy-to-let in the UK economy.

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