HM Treasury announce Banking Reforms


The Government is today publishing its response to the report by the Independent Commission on Banking (ICB), which sets out plans to fundamentally reform the structure of banking in the UK. This response agrees with the ICB’s recommendations and outlines how the Government will legislate to create a stable banking sector that supports lending to businesses and families, and removes the implicit taxpayer guarantee in the event of a bank failure. The Government will implement the ICB’s advice in stages with the full package of reforms completed by 2019. All necessary legislation will therefore be put in place by the … Continue reading HM Treasury announce Banking Reforms

Intergration of Tax & NI Systems


The Government has issued a call for evidence as part of its consideration of the integration of the operation of the income tax and National Insurance contributions systems, announced at Budget 2011. This is a preliminary stage of consultation, and aims to build a strong evidence base on the burdens to employers of having to operate two different systems. Responses to this call for evidence will inform the Government’s proposals for reform, on which it will consult in the autumn. The two systems are currently operated entirely separately and the Government believes that greater integration of the two has the … Continue reading Intergration of Tax & NI Systems