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.
For more information please contact a member of the public relations team or visit our global news room.
Email alerts
Receive our latest news releases as soon as they are published by registering for our email alert service. Find out more.
RSS news feeds
Recieve the latest updates from Deloitte via our RSS news feed.
| Taxpayer wins in landmark Arctic Systems case |
 |
25 July 2007 |
|
The Ruling
Lord Hoffman delivered another outstanding judgement today in this well-known test case, supported by four other Law Lords. He concluded that the arrangement whereby a share in Arctic Systems was subscribed for by Mrs Jones was indeed a settlement (an arrangement whereby Mr Jones gave something of value to Mrs Jones). There was the requisite element of bounty, since it was plainly intended that Mrs Jones received a benefit from the share, in the form of dividends which, due to the level of her other income, would effectively be tax-free. However, the case fell within an exemption in the settlements... |
|
| The regional outlook for the UK economy |
|
23 July 2007 |
|
In the latest issue of the Deloitte Economic Review, the business advisory firm’s Economic Adviser, Roger Bootle, considers the prospects for the different regions of the UK economy over the next two decades. His main points are as follows:The UK economy is currently seriously unbalanced. There is a clear divide between the “haves” in London and the South East and the “have-nots” in the rest of the country. Shifts in the sectoral make-up of the UK economy have primarily been to blame. Looking ahead, the East Midlands, North East and Wales are the regions most reliant on...
|
|
| Deloitte response to Sub National Review |
|
20 July 2007 |
|
Deloitte, the business advisory firm, has welcomed the publication of the Government’s Sub National Review (SNR) of economic development and regeneration on Tuesday 17 July 2007 but warned that the key to its success is whether it can be delivered appropriately. Phil Holt, Director at Deloitte’s Economic Development and Regeneration practice, commented: “The review is a comprehensive and impressive analysis that clearly recognises the regional competitiveness challenge. The proposed direction of streamlining delivery and clarifying roles of various organisations is right, however, it is not clear how these recommendations and... |
|
| New interim management statements are reluctant debutantes |
|
19 July 2007 |
|
The last few weeks have seen the first blush of the new Interim Management Statements (IMSs) required from UK listed companies. For accounting periods beginning on or after 20 January 2007, new rules came into effect requiring companies to publish an additional report twice annually around quarter one and quarter three of the financial year. These short statements have to meet only a few rules but a Deloitte study of 20 listed companies, “Early Learning – the first Interim Management Statements”, shows a wide variety of practices emerging, including: |
|
| Rate rises costing UK’s top businesses in excess of £1 Billion |
|
18 July 2007 |
|
The recent interest rate rise to 5.75% and the prediction that it may rise beyond 6% will highlight the real cost of poor working capital management in many businesses. The more efficient businesses are at managing working capital, the less cash is tied up in running the business on a day-to-day basis. Many companies have not had to address this issue in recent years as interest rates have been fairly low and it has been easy to plough cash into working capital. With interest rates at a six-year high, the cost of funding working capital has risen sharply. Rate rises over the past 12 months mean that the funding costs... |
|
| House of Lords finds taxpayer entitled to compound interest as compensation |
|
18 July 2007 |
|
The House of Lords has decided (by a majority) that Sempra Metals Limited was entitled to compound interest from HM Revenue & Customs following its successful claim to compensation for having paid tax early. Bill Dodwell, tax partner at Deloitte, comments: “Today’s decision is very welcome. Compound interest is the norm in the commercial world but English law has not yet fully adapted to that. The Law Lords have found a sensible commercial answer in the light of centuries of precedent. We shall look forward to seeing how this landmark judgement is applied in practice.” The decision means similar claimants should also... |
|
| Rising cost of corn and wheat to hit UK consumers, manufacturers and farmers |
|
13 July 2007 |
|
World economies are in a race to find alternatives to fossil fuels. Turning crops such as wheat and corn into ethanol or, oilseed rape and palm oil into bio-diesel will have an impact on farmers, manufacturers and food supply the world over. According to Deloitte, the business advisory firm, the knock-on effect on UK agriculture is likely to spell price increases of staple foods for UK consumers. Mark Hill, food and agriculture partner at Deloitte, comments: “The price of corn has doubled in the last 12-18 months, up from US$2/bushel (US$70-80 per tonne), to over US$4/ bushel (US$160-170 per tonne). Similarly in June wheat prices... |
|
| Deloitte comments on Solvency II framework |
|
11 July 2007 |
|
The publication of the draft framework for Solvency II, the new capital adequacy directive for European insurers, is a major step towards establishing a level playing field across Europe, according to the business advisory firm Deloitte. However, Rick Lester, insurance partner at Deloitte cautions that the new framework generates a number of challenges for insurers trying to adhere to the rules: “Solvency II will be a significant step-change for many jurisdictions and the cost of compliance for insurers is likely to be high with the costs in the UK running into hundreds of millions of pounds. Even for jurisdictions which have... |
|
| Record first half for UK private equity |
|
09 July 2007 |
|
Statistics (237KB, PDF) from CMBOR, the pre-eminent provider of analysis on the UK buy-out market founded by Barclays Private Equity and Deloitte, reveal that the private equity market has picked up significantly after a slow start to 2007. Excluding the Alliance Boots mega-deal the first half total was £13.9 billion, up 31% on the first half of 2006. Including Alliance Boots, the first half total is already over £25 billion, close to the record 2006 full year number of £26.5 billion.
Mark Pacitti, Corporate Finance Partner at... |
|
| UK Motor Sport aims for Pole Position |
|
06 July 2007 |
|
Lewis Hamilton’s spectacular success in this year’s Formula One Championship will deliver a major financial boost to UK Motor Sport. The rookie driver’s bid to win the F1 Championship in his first ever season has resulted in sell-out crowds at Silverstone this weekend and has led to a massive increase in UK television viewers. Hamilton’s success has helped push anticipated total attendance at the British Grand Prix to its capacity of 255,000 over the three days, an increase of 65,000 on 2006. It has also added another 2 million UK TV viewers to recent F1 races compared with last season.
The importance of “local heroes” in... |
|
|
[<< Prev]
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
[Next >>]
|
