Tax Planning

Bank of England (BoE) governor Mervyn King has warned against a further cut in interest rates, arguing it would damage the banking sector and may be "counterproductive".

The National Institute of Economic and Social Research (NIESR) has called on the government to loosen its debt reduction plans as growth forecasts are slashed for the UK.

Former tax boss Andrew Meeson has pleaded not guilty to charges his company defrauded HM Revenue and Customs (HMRC) by more than £5m through a "fictitious" pension scheme.

The Bank of England has held interest rates at 0.5% for the 41st consecutive month and kept its bond-purchase target at £375bn.

ADVISER CHARGING

The Advertising Standards Authority (ASA) will not take action against National Savings & Investments (NS&I) over one of the Treasury-backed agency's radio advertisements, following a complaint from a listener.

Her Majesty's Revenue & Customes (HMRC) is to repay an adviser £259,000 for incorrectly charging VAT on intermediary services.

Treasury minister David Gauke has said it is "morally wrong" to pay tradesmen in cash, in the hope of avoiding tax.

Government plans to crackdown on aggressive tax avoidance schemes by forcing companies to hand over details of wealthy clients using the set ups.

At least $21trn of unreported private wealth was being hidden in secret tax havens at the end of 2010 by the world's super rich, a major study has revealed.