Archive for February, 2008

CV registration through

Tuesday, February 26th, 2008

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HMRC purchases Liechtenstein ‘tax exile’ database for £100,000

Monday, February 25th, 2008

The UK’s tax authority has confirmed that it has paid an informant for data regarding British citizens who have accounts in tax haven Liechtenstein. HM Revenue and Customs (HMRC) confirmed the move after a Sunday Times report, but would not say how much it had paid the informant.

HMRC said it was seeking “to protect the UK exchequer from those who seek to hide behind secrecy laws”.

Separately Germany is involved in its own probe over Liechtenstein accounts.

The Sunday Times newspaper claimed the amount paid to the informant was £100,000 - but that figure has not confirmed.

HMRC said it had made the move in a bid to protect the UK against those trying to “deprive the UK of tax revenues to which it is entitled”.

Meanwhile, Germany has launched a probe into tax evasion using data also from an anonymous informant, who was reportedly paid 5m euros (£3.7m; $7.4m).

In response, the country’s head - Prince Alois von und zu Liechtenstein - has argued that Germany’s move is illegal.

Liechtenstein is now conducting its own investigation on the subject.

The Organisation for Economic Cooperation and Development lists Liechtenstein as one of only three states remaining on its blacklist of “uncooperative tax havens”.

The amount of back taxes and fines owed to the HMRC could total in excess £100m - although this has yet to be confirmed.

National Grid fined £41.6m for ‘restricting competition’

Monday, February 25th, 2008

National Grid has been fined £41.6m by energy regulator Ofgem for restricting the development of competition in the domestic gas meter market. Ofgem said the company had committed “a serious breach of competition law”.

It said National Grid’s actions had prevented gas suppliers from contracting with other firms for cheaper metering deals.

“National Grid has abused its dominance in the domestic gas metering market, restricting competition and harming consumers,” said Ofgem chairman Sir John Mogg.

The UK’s gas distribution system was formerly run by Transco.

National Grid’s turnover from its gas meter business is around £260m a year.

The company is also responsible for the UK’s long distance electricity transmission network.National Grid, which operates the UK’s main gas pipeline system, has said it will appeal against the decision. launches its UK accounting Blog

Monday, February 11th, 2008 is a specialist UK based Accounting, Banking and Finance job board, containing jobs for Accountants, Banking, and Financial professionals. And, this is our blog, where we cover accounting and business issues in the UK. Here’s hoping you’ll find the articles interesting, useful, etc.