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David Cameron Paves Way for HMRC to Target PAYE and NIC Dodgers

From April 2012, HM Revenue and Customs (HMRC) will require a security from employers if they suspect National Insurance Contributions (NIC) and Pay As You Earn (PAYE) taxes will be unpaid. HMRC claims the new legislation, which includes a criminal offence for business owners that are asked to give security but fail to do so,…

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Is Vince Cable Brave Enough to Take on the Insolvency Industry?

When we blogged about David Cameron’s u-turn on insolvency reform back in October, who would’ve imagined that Business Secretary Vince Cable would follow suit – certainly not us. In June, the Office of Fair Trading (OFT) released a damning report calling for sweeping reforms of the insolvency industry. Cable was supposed to respond to the…

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David’s Cameron’s Insolvency Law U-Turn Will Please Creditors

It remains to be seen why David Cameron has made a u-turn over plans to radically reform insolvency laws. Before coming to power, the Prime Minister called for the introduction of US-style Chapter 11 rules, which would give struggling businesses ‘breathing space’ to get back on their feet without having to face liquidation. At the…

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Rise in businesses surviving the recession? Load of rubbish!

The British Government is perhaps one of the biggest costs to UK plc. During the 2007 bank bailout, Her Majesty’s Treasury turned the banks’ private debt into a public liability. Suddenly, billions of pounds went from private to public ownership as the banks’ debt was transferred into the Government’s account. The Treasury is owned by…

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