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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| We've won, but the hard work starts now to achieve British sporting success |
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06 July 2005 |
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The Sports Business Group at Deloitte calls for greater emphasis to be placed on improved funding and government resource as success in sport comes under the spotlight
London’s Olympic dream of hosting the 2012 games has been realised. After seven years of planning, London has delivered a successful bid and won an international competition of Herculean proportions. The Sports Business Group at Deloitte congratulates the Bid team but believes that there is now a further big push needed to deliver a fantastic Olympic games in 2012. The business advisory firm outlines its recommendations to drive British sporting... |
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| Non-resident EU taxpayer loses claim for equal treatment |
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05 July 2005 |
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The European Court of Justice (ECJ) has this week (5 July 2005) decided against the taxpayer in a case (‘the D case’) involving a German national and resident, who argued for ‘Most-Favoured Nation’ treatment, i.e. that he should receive similar tax treatment to other individuals in a comparable situation.
Bill Dodwell, head of Tax Policy Group for Deloitte in the UK commented: “It is unusual for the ECJ to over-rule the Advocate General’s opinion, as they have done in this case. This case could have been significant in allowing non-resident taxpayers to scrutinise the taxing country’s various double tax treaties and to argue that... |
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| Last day of London’s Olympic bid |
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05 July 2005 |
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In the final 24 hours of the London Olympic bid countdown, Dan Jones, Head of the Sports Business Group at Deloitte says: “There are a multitude of benefits for London hosting the Olympics, for the sport sector in particular, it provides a unique opportunity for the UK to develop world-class facilities to enable the country to host future first rate sporting events. These venues would also provide an inspirational training ground for future generations of athletes.” Alex Kyriakidis, Global Head of Tourism, Hospitality and Leisure at Deloitte, comments: “As proven by previous host cities, the Olympics generate opportunities across... |
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| Profitability Monitor – Quarter 3 2005 |
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05 July 2005 |
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Our regular assessment of the current state of the profitability of British business and the economic factors influencing its prospects for the future, prepared by Roger Bootle, Economic Adviser to Deloitte.The marginal rise in profitability in the first quarter does little to alleviate our concerns about the tough times facing the UK corporate sector. Firms are under intense pressure and even more challenging times lie ahead. Oil companies enjoyed the biggest rise in profitability as they cashed in on the rise in oil prices to over $55 a barrel in Q1. And the improvement in services sector...
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| Hotels face uncertainty on VAT position |
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01 July 2005 |
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A French case which has been referred to the European Court of Justice (ECJ) could give hotels a substantial VAT windfall. Deposits paid by customers to reserve hotel rooms are generally subject to VAT in the UK if the guest is a no-show. In the case of Societe Thermale D’Eugenie-Les-Bains, the taxpayer argues that the deposits should be treated as compensation if the customer does not take up their reservation and should be VAT free. Andrea Clarkson, indirect tax director at Deloitte says: “The case potentially affects all businesses who receive deposits for a hotel booking and account for VAT on no-shows. Beyond... |
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| European Savings Directive: uncertainty remains on how tax authorities will implement and regulate new measures |
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01 July 2005 |
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Elizabeth Burnie, tax partner at Deloitte, comments on the Directive and the implications for the EU: "The European Savings Directive comes into force on 1st July 2005. It is a pan European measure aimed at tackling the perceived evasion of tax by individuals resident within the European Union. The fundamental principle is that financial institutions which pay interest to individuals who are resident in another member state are required to report details of those payments to their own tax authority. These tax authorities will then exchange that information with the tax authority of the relevant individual. Certain territories will... |
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| Instant messaging - next generation collaboration taking off |
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30 June 2005 |
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Dave Tansley, telecoms and technology partner at Deloitte comments: "Today's announcement by Vodafone that it plans to launch an instant messaging (IM) service (30/6/05) reflects a hive of activity by technology, media and telecoms players to extend their IM capabilities. This reflects an increasing demand for cheaper and integrated communication by consumers and businesses and a more general trend towards collaboration - applications, products and services that enable groups of users to interact in a more timely and effective manner. "Whilst collaboration has been talked about as being the next big thing for some time, it is only... |
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| Web TV: the channel of the future |
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29 June 2005 |
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An increasing number of cable and internet service providers are examining the delivery of TV over the Internet in the development of their customer offerings, with BT’s announcement (28/6/05) that it intends to trial TV over broadband services being just one such example.
“Opportunities for provision of TV over the Internet will be an area examined closely by the media, telecom and technology sectors over the next few months, as the way in which these organisations access their customers increasingly converge. There are a number of challenges that will need to be addressed in the development of web TV and establishing how... |
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| Public to private deals drive the UK buy-out market |
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27 June 2005 |
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The value of public to private deals has hit £4.9 billion, already the highest level since 2000, according to the Centre for Management Buy-Out Research (CMBOR), the pre-eminent provider of analysis on the UK buy-out market.
Sponsored by Barclays Private Equity and Deloitte, the figures are the most comprehensive compilation of UK buy-out data for 2005. They show that public to private buy-outs and buy-ins account for 45 per cent of the value of all deals in the first half of 2005 in comparison to 17 per cent for the whole of last year. The average size of a deal is almost £500 million compared to between £100 - £200 million in past... |
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| FSA appoints Deloitte director to Consumer Panel |
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24 June 2005 |
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The FSA has appointed Caroline Gardiner, a director in the financial services practice at Deloitte to the Financial Services Consumer Panel, effective 1 July 2005. Also appointed were David Metz and Richard Taylor. They replace Yvonne Gallacher, who stood down at the end of May 2005 as well as Nick Pearson, Richard Smethurst and Dave Watts who stand down at the end of June, after completing their terms of office.
FSA Chairman, Callum McCarthy said:
"I am delighted that Caroline, David and Richard are joining the Panel. They and the existing members will continue to ensure that the Panel acts as a strong, independent consumer... |
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