Tax Planning

FATCA

Her Majesty's Revenue & Customs (HMRC) said it has prevented some £200m from being diverted from the Exchequer after winning three court decisions against tax avoidance schemes.

HM Revenue & Customs (HMRC) will spend an extra £34m and recruit up to 1,000 extra contact centre staff to achieve its target of answering 90% of calls, chief executive Lin Homer has announced.

The Consumer Prices Index (CPI) rate of inflation climbed to 2.6% last month, from 2.4% in June.

DOUBLING-UP

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.

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