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49 press releases from December 2011

19 December 2011

PwC comments on the Government's response to the ICB

PwC experts comment on the Government’s response to the Independent Commission on Banking’s (ICB) final report and the potential implications for the UK banking industry,...

PwC: Mortgage market review could add to borrowers' woes

Commenting on the publication of the Financial Services Authority’s (FSA) mortgage market review, David Kenmir, financial services regulatory partner at PwC, said: “This is a...

PwC projects impact of four potential Eurozone outcomes on Germany, France, Italy and Spain

The impact on Germany, France, Italy and Spain of monetary expansion through a liquidity injection from the European Central Bank, orderly defaults for the most...

16 December 2011

PwC comments on the business impact of heavy snow leading up to Christmas

Commenting on the business impact of heavy snow leading up to Christmas, James Crask, PwC business continuity senior manager, said: “With businesses across the UK...

UK Financial Services increases tax contribution to £63bn in 2010/11

The UK financial services sector made an increased contribution to the public finances during the year to March 2011 even as the economy continued to...

15 December 2011

On the first day of Christmas, my supplier gave to me....

Companies should have an eye to the bribery laws before sending or receiving corporate Christmas gifts this year now that the UK’s Bribery Act is...

12 December 2011

Recession fear could drive UK car sales to under 1.9million, says PwC

Automotive experts at PwC say recessionary fears are likely to drive down UK car sales to below 1.9 million next year. This compares to PwC’s...

UN climate process leaves business cold

Although business delegates welcomed the last minute agreement at the UN Climate Summit in Durban on Sunday to a roadmap to a long term deal...

11 December 2011

Durban - UN Climate Summit close: a victory for the process more than climate change

A road map and an ambitious timetable, but the precise destination remains unclear Overall, business will shrug its shoulders over Durban and wait for direction...

10 December 2011

UN Climate Summit, Durban: PwC comments, resources and contacts

Specialists in PwC's sustainability and climate change team attended the UN Climate Summit in Durban, which closed on 10 December. Read our analysis of the...

09 December 2011

Winter storms take their toll

The strong winds battering Scotland could be cooling the Scottish economy by around £100m[i], according to estimates by business advisers, PwC. School kids may love...

Outlook for the Global Sports Market to 2015 - Global sports revenues will grow to US$145.3 billion

According to a new report by PwC looking at the global sports market, over the next five years to 2015, global sports revenues will grow...

08 December 2011

Foreign insurance companies face unprecedented challenges in China

The increasing dominance of domestic insurers and the war for talent have overtaken China’s regulatory environment as the key challenge for foreign insurance companies operating...

PwC comments on Defra's Water White Paper

Commenting on Defra's Water White Paper released today; Richard Laikin, UK Water Sector Leader, PwC, said: "The Government's roadmap for market reform set out in...

Senior executives expect Eastern promise to dominate IPO pipeline by 2025

In only fifteen years from now, China is predicted by almost 80% of respondents to PwC’s “Capital Markets in 2025” report to be the most...

07 December 2011

PwC responds to the publication of the Competition Commission’s Audit Market Investigation Issues Statement.

Richard Sexton, PwC board member for reputation and policy, responded to the publication of the Competition Commission Issues Statement: “In framing the issues they wish...

Finance Bill: PwC comments on stamp duty land tax avoidance schemes

HMRC announced in yesterday's Finance Bill that there will be changes to the Disclosure of Tax Schemes to help them identify the promotion and use...

Rare earth metals scarcity: A ‘ticking time-bomb’ for the world, asks PwC?

Chemical, energy and auto industry in ‘red alert’ over disruption of supply Manufacturers will struggle to keep up with demand 14 raw materials named as...

06 December 2011

Finance Bill: PwC comments on the new tax regime for life insurance companies

Today's draft Finance Bill 2012 contains over 100 pages on the taxation of companies carrying on long-term insurance business. These provisions amount to a rewrite...

Finance Bill: PwC comment on Carbon Price Floor additional provision - carbon value of coal

Commenting on the additional provision to the Carbon Price Floor, to charge tax based on the carbon value of coal, rather than weight, as included...

Finance Bill - PwC: Champions League final 2013: tax relief

Alison Smith, tax adviser at PwC, said: "The Government today announced legislation which will exempt non resident players and team officials. Whilst this was trailed...

Finance Bill – PwC: CFC rules a potential game changer for UK insurance industry

After discussions spanning five years, long awaited draft legislation on how companies’ off shore operations are taxed – the controlled foreign company (CFC) rules –...

Finance Bill: PwC says reduced inheritance tax for charitable giving is a great idea, but too complicated

Alison Smith, tax adviser at PwC, said: "We welcome the introduction of a reduced rate of inheritance tax to 36% from 40% where an individual...

PwC chairman responds to release of EC proposals for audit market reform

Ian Powell chairman and senior partner comments on EC proposals On Wednesday 30 November, the European Commission published its proposals for audit market reform. Some...

Finance Bill: PwC: Surprise new relief for gains on foreign currency will help individual taxpayers

The draft Finance Bill published today contained a surprise new relief exempting gains on foreign currency held in bank accounts. So for example a person...

Finance Bill: PwC comments on HMRC's new powers to obtain information about persons whose identity cannot be ascertained

Giovanni Bracco, tax partner said: "New powers to obtain information about persons whose identity cannot be ascertained will bring the UK powers into line with...

Finance Bill: PwC - Changes to VCT and EIS could see a reduction in funding for SMEs

Philip Hare, tax adviser at PwC, comments on the draft Finance Bill clauses announced today which will affect Venture Capital Trusts and the Enterprise Investment...

Finance Bill – PwC: CFC reforms a significant improvement for the UK banking sector

After discussions spanning five years, long awaited draft legislation on how companies’ off shore operations are taxed – the controlled foreign company (CFC) rules –...

Finance Bill – PwC: Claims equalisation reserves decision to cost UK insurance industry £500m

Despite significant efforts by industry, the Association of British Insurers and Lloyd's, HMRC have confirmed their intention to repeal legislation that allowed a tax deduction...

Finance Bill: Comment from Kevin Nicholson, Head of Tax at PwC

Speaking about the publication of today's draft Finance Bill 2012, Kevin Nicholson, Head of Tax at PwC, commented: "This Bill contains much of the detail...

Finance Bill: PwC comments on the introduction of a "Patent Box"

Draft Finance Bill legislation published today includes the introduction of a “Patent Box”, which will reduce the corporate tax rate on profits from patented inventions...

Durban: PwC comment on DECC "climate finance milestone"

Commenting on the announcement that UK has passed a £1bn fast start climate finance milestone Celine Herweijer, director, sustainability and climate change said "It's critical...

Finance Bill: PwC comments on delay in introduction of new legislation to list tax avoidance schemes that it considers aggressive and/or artificial

Giovanni Bracco, tax partner at PwC, said: "HMRC is being pragmatic in delaying the introduction of new legislation to list Tax Avoidance Schemes that it...

Finance Bill: PwC comments on the Supplementary Charge and its effect on UK oil and gas companies

Alan McCrae, energy tax partner, PwC, said: "This announcement that the 32% supplementary charge will apply to capital gains on transactions as well as to...

Finance Bill: Good news for property industry

Good news for property industry as Finance Bill confirms changes to Real Estate Investment Trust (REIT) regime, says PwC Today’s draft legislation has confirmed changes...

Finance Bill: PwC on details of the exemption for non-doms who remit funds to the UK to invest in business

Alex Henderson, partner at PwC, said "The Government has listened to consultation responses and set out pretty generous relief for non-doms who remit funds to...

Corporate tax reform - Biggest change in international taxation for 25 years

Companies using offshore financing structures to lend to their subsidiaries will get a lower tax rate of 5.75% rather than having to pay the full...

Finance Bill: PwC comments on late night travel tax relief, good news for workers

Following consultation the government has decided not to abolish the relief which provides income tax and NICs exemption for employees who take a taxi to...

Finance Bill: PwC comments on Statutory Residency Delay

Sean Drury, international mobility partner at PwC, said: "The announcement this morning that the new statutory rules on residence status will be delayed for a...

UK hotels’ performance for 2012 - PwC updates forecast*

London on target in 2011 but regions weaker than expected London hotels may continue to enjoy relatively good times but the impact of weaker economic...

UN climate negotiations: Review of progress and key issues for Week 2

As events ramp up to the close of the UN Climate Summit in Durban on Friday, Jonathan Grant, of PwC's Sustainability and Climate Change team...

05 December 2011

PwC achieves Business in the Community CommunityMark status

PwC has successfully achieved its CommunityMark status for a further three years. The CommunityMark is the UK’s only national standard that publicly recognises excellence in...

PwC's Climate Change team comment on the Met Office Hadley Centre Climate Change Assessment Reports

Commenting on the release of the Met Office Hadley Centre Climate Change assessment reports released today, finding that if emissions are left unchecked, temperatures would...

Cumbrian Seafood Limited and Border Laird Limited - in administration and sale of business

Robert Hebenton, Toby Underwood and Ian Green of PwC were appointed as joint administrators of Cumbrian Seafood Limited and Border Laird Limited (the Companies) on...

PwC outlines four potential Eurozone outcomes for 2012

Monetary expansion through a liquidity injection from the European Central Bank, orderly defaults for the most indebted countries, Greek exit and a new currency bloc...

Casino and Online Gaming Global Outlook

Asia the growth engine - strong growth during PwC’s forecast period with Macau being the jewel in the gaming crown The casino gaming market in...

03 December 2011

New research examines how to put climate finance to work for 70m smallholders in Sub-Saharan Africa

Agriculture and Rural Development Day at the UN Climate Summit in Durban – 3 December 2011 • Smallholders represent 80% of all farming in Sub-Saharan...

01 December 2011

PwC to lead professional services Higher Apprenticeship Programme development

PwC will lead the development of a new Higher Apprenticeship Programme for professional services, focusing on tax, audit and management consultancy. The new programme will...

Growing threats trigger sharp M&A rise in $60 billion global cyber security market, says PwC

Global cyber security spending is expected to reach $60 billion in 2011 and is forecast to grow at 10% every year during the next three...
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