Listed below are our UK press releases, providing an overview of our activities and opinions over the last 18 months. Our most recent press releases can be found at the top of the page.
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| Deloitte are gold |
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26 May 2008 |
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Deloitte, the business advisory firm, has been given a Gold rating in the Sunday Times Business in the Community 2007 Corporate Responsibility Index. Deloitte’s performance in the overall index jumped from 85% last year to 93.5%. Deloitte also received Platinum ratings for the Workplace Index and Community Index as well, as a Gold rating in the Environment Index. Cindy Cahill, Partner responsible for Corporate Responsibility at Deloitte commented: “Deloitte's performance in the overall index has improved significantly this year. This is a fantastic achievement for Deloitte and one of the highest increases of all participants in... |
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| Deloitte appointed administrators to MK One |
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22 May 2008 |
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Lee Manning of Deloitte has been appointed Administrator to value fashion retailer MK One. The company entered administration on Wednesday 21 May 2008.
The company operates from 172 stores, employing 2,500 staff. MK One is owned by retail restructuring specialist Hilco, having been acquired from Baugur.
Lee Manning, Partner in Deloitte’s Reorganisation Services practice, said: "We are continuing to trade the business as a going concern whilst seeking a buyer. MK One has a strong customer base, a range of good brands and an excellent store portfolio."- ENDS –
Notes to... |
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| Bingo win for Rank in £36m VAT case |
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22 May 2008 |
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The VAT & Duties Tribunal today ruled that the UK’s VAT treatment of mechanised cash (or interval) bingo was inconsistent with EU rules. The ruling means that The Rank Group Plc, which brought the case, stands to recoup £36 million in overpaid VAT. Rank, the owner of Mecca bingo clubs, argued that the current position, under which some types of mechanised cash bingo are taxable while others are exempt from VAT, is contrary to the principle of fiscal neutrality. This requires the same or similar services to be treated in the same way for the purposes of VAT. The Tribunal accepted this argument and upheld, in... |
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| Whistlejacket: Court of appeal judgment |
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22 May 2008 |
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The Court of Appeal today handed down it's judgment in respect of Whistlejacket Capital Limited (in receivership) - a structured Investment Vehicle, "SIV". The appeal was brought by the receivers from Deloitte and Bank of New York. The appeal related to the correct interpretation of certain provisions contained in the Transaction Documents dealing with the manner in which monies held by the Receivers should be applied amongst the company's creditors.
The Receivers are very pleased with the outcome of the appeal. Neville Kahn, one of the joint receivers and partner of Deloitte, commented: "We are delighted with the judgment. We... |
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| Energy and Resources companies make progress on security but no room for complacency |
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21 May 2008 |
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- 67% of companies cite “human error” as a root cause of security failures – ahead of technology and operations.
- Over a quarter of organisations (29%) give employees no training on information security or privacy issues.
- Majority of companies (70%) have appointed a Chief Information Security Officer and 72% have information security governance frameworks and strategies in place.
Energy and Resources businesses are working hard to improve their security and to be one step ahead of the latest security threats according to a global security report launched today by Deloitte. Human error... |
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| Foreign employees seconded to UK face tax return time bomb |
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20 May 2008 |
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Deloitte, the business advisory firm, is calling for the Chancellor to urgently review the new rules on the tax treatment of foreign employees on short term secondments in the UK or face creating a costly administrative nightmare for the employees and their employers. Under the Finance Bill proposals, the new residence and domicile rules targeted at wealthy non-doms will have a damaging impact on thousands of middle income internationally mobile employees working in the UK for limited periods. This will increase the costs incurred by their employer, and so reduce the attractiveness of the UK to foreign... |
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| A week to go until launch of faster payments |
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19 May 2008 |
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There are only a few days to go (27th May) until banks start offering Faster Payments (FP), allowing customers to make near real-time payments 24 hours a day 365 days a year. The Faster Payments scheme, which includes standing orders, is the banking industry’s response to Government concern that the UK did not have a low cost, quick and efficient electronic payment mechanism. This is a big step forward and will be welcomed by the consumer, yet presents a combination of opportunities, challenges and risks for the banks. Ian Foottit, payments strategy director at Deloitte, said: “On the plus side, Faster Payments does... |
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| Sale of Rock Group Plc |
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19 May 2008 |
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The administrators of Rock Group Plc, Dominic Wong and David Langton of Deloitte, announce the sale of the business and assets as a going concern to Stone Group Limited. It was completed on 19 May 2008 for an undisclosed sum. The Joint Administrators were appointed on 8 May 2008, since then Deloitte’s Reorganisation Services team has been working closely with the staff at Rock to conclude an early sale of the business. Dominic Wong, Joint Administrator, said: “We are delighted that a sale of this award winning laptop manufacturer has been secured, preserving employment for the staff. “As well as ensuring the continued... |
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| Deloitte analysis reveals too much emphasis on senior leadership neglects core talent |
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19 May 2008 |
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A study by Deloitte, the business advisory firm, finds that corporate talent management strategies will need to shift considerably to address a more competitive market for global talent. The talent pool is expected to shrink by 13% over the next 40 years.
Deloitte conducted extensive interviews with 58 of the world’s leading organisations that collectively employ more than 2 million people and have combined revenues of £603 billion in order to ascertain how they are preparing for the talent crisis.
Changing demographics - in the form of an ageing and shrinking workforce coupled with changing employee expectations -... |
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| Make better use of our resource, internal auditors tell business |
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15 May 2008 |
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A new report by the Institute of Internal Auditors and Deloitte “Towards a Blueprint for the Profession”, reveals that many internal auditors believe they can increase the value they provide to their organisations by extending their reach into wider risk areas such as reputation, technology and projects not just concerned with financial control. Only 15% said that these areas were part of their remit now but five times as many expected them to be so in 2012.
According to the report, whilst they also want to challenge management and act as a catalyst for improvement across the business, the key role for Internal Audit continues... |
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