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65 press releases from December 2012

21 December 2012

Parliamentary report into banking standards, fails to show how ringfencing prevents bank failure.

Steve Davies, UK Retail Banking Leader, PwC said: “The Commission’s first report is an interesting contribution to the debate about how to implement ringfencing, however...

EIOPA - Solvency II interim measures announced – PwC comments:

Paul Clarke, global solvency II leader, PwC said: “Long-term guarantee products have remained the sticking point throughout the Solvency II negotiations and despite best efforts...

20 December 2012

Gender Directive rewards ‘boy racers’ as female motor premiums may rise by up to 40%

The EU Gender Directive will remove price differences between men and women on insurance products from 21st December 2012. PwC predicts younger women could see...

19 December 2012

PwC predicts male pensioners could see their annuity payouts reduced by up to £10k over their lifetime

The EU Gender Directive will remove price differences between men and women on insurance products from 21st December 2012. PwC predicts male pensioners could see...

18 December 2012

Redundancy period halved to 45 days - PwC comments

Commenting on the Government’s plans to reduce the 90 day minimum period before large-scale redundancies can take place to 45 days, Ed Stacey, head of...

PwC Announces New Head of Real Estate

PwC has appointed partner Craig Hughes as the new leader of its real estate practice. Craig joined PwC in September, after 19 years with Ernst...

Shareholder returns for water companies remain strong but not expected to regain their mid-decade highs, says PwC

· Returns for shareholders to remain around 12% off from 20% highs · Overall Valuation Index for all UK equities stands at 121 for Q3...

17 December 2012

UK Coal restructuring – PwC comments on game-changing deal

PwC were the corporate advisors to UK Coal plc on its restructuring plan, which will see the company’s business legally separated into distinct mining and...

Announcement of the results of the spectrum auction in the Netherlands increases expectations of the UK 4G auction.

Brian Potterill, director in PwC's telecoms strategy team, added: "The results of the spectrum auction in the Netherlands were announced late on Friday (14 December),...

14 December 2012

PwC administrators to London Taxi Company announce completion of steering fix to recalled vehicles

The administrators of Manganese Bronze Holdings are pleased to announce that all of the 401 vehicles recovered as part of the taxi recall have been...

68% of insurers have reduced their Solvency II implementation programme, accordingly to PwC survey.

The majority of insurers surveyed now expect Solvency II to fully come into force in 2016 and 68% have scaled back their implementation programme as...

Insurance - 2012 review / 2013 predictions: PwC comments

Lloyds Market: Gavin Philips, partner, PwC said: “After the succession of major losses in 2011, the Lloyd's market has enjoyed a much better year, though...

13 December 2012

EU public debt total is now equivalent to around €21,000 per person

PwC analysis suggests that to reach the agreed EU target of 60% of GDP, government deleveraging could take a decade or more to complete Total...

12 December 2012

European banking report - PwC's financial services leader comments on UK impact

In response to today's publication of the House of Lords European banking union report, Kevin Burrowes, UK financial services leader at PwC, commented: "Today’s House...

A look at luxury hotels

2012 saw the UK’s largest room supply increase from new developments in the last decade. In London, the 2012 Games catalysed development on a scale...

Governments and industry must work together to resolve aviation climate impasse

New analysis by PwC, The Future of Aviation Emissions Regulation, highlights the pressure on airline sector officials in the International Civil Aviation Organisation (ICAO) High...

11 December 2012

Finance Bill - PwC comment on Carbon Price Floor measures

Commenting on the Carbon Price Support details in the Finance Bill released today, Jayne Harrold, environmental tax specialist, PwC, says it’s a good day for...

Finance Bill - PwC comments on share loss relief boost for thousands of SMEs

The Finance Bill published today has placed a cap on share loss relief for losses arising after 5 April 2013. However, the government has also...

Finance Bill – PwC comments on life insurance qualifying policies

Philip Lewis, director, PwC said: "Qualifying life insurance policies are no longer a guaranteed tax free investment. From 6 April 2013, there will be a...

Finance Bill - PwC comments on the new R&D credit

Diarmuid MacDougall,PwC's R&D expert, welcomed today's R&D announcement saying it could be the boost British industry needs to get it back on track: "Today's announcement...

Finance Bill - PwC comments on the new R&D credit

Diarmuid MacDougall,PwC's R&D expert, welcomed today's R&D announcement saying it could be the boost British industry needs to get it back on track: "Today's announcement...

Finance Bill - PwC comments on income and capital gains tax charges for people with interests in overseas assets

The Government has published reforms to the anti avoidance rules for people transferring assets abroad. While these are important tax avoidance measures, they were not...

Finance Bill 2013 – PwC on ‘preventing avoidance of stamp duty on residential property'

Commenting on the introduction by the Chancellor of an annual residential property tax, amendments to the punitive 15% stamp duty regime, capital gains tax on...

Finance Bill - PwC on General Anti Abuse Rule (GAAR)

Commenting on draft legislation for a General Anti Abuse Rule, Jon Richardson, tax partner at PwC, said: "Today's draft legislation and guidance notes have provided...

Finance Bill - PwC comments on Statutory Residence Test

Ben Wilkins, international mobility partner at PwC, commented; "We finally have a definitive test to see if an individual will be classed as a UK...

Finance Bill - Government drops plans to stop use of personal service companies by 'controlling persons'

The Government has confirmed it will drop plans which would have meant individuals working through personal service companies (PSC), carrying out what would otherwise be...

Finance Bill - PwC comments on Corporation Tax exit charges

The Government has responded to recent European Court Of Justice case law and the action of the European Commission to allow companies to move to...

Finance Bill 2013: PwC comments on REITs

Commenting on news that the Government is to allow REITs to invest in other REITs , Rosalind Rowe, real estate tax partner at PwC, said:...

10 December 2012

CEO concerns about energy and resource costs at highest level for three years - PwC

CEO concern about energy and raw material costs as a threat to their business growth prospects are at a three year high, according to preliminary...

08 December 2012

Loss & Damage at COP18 – Doha

Specialists from PwC’s sustainability and climate change team provide background and context on the Loss and Damage issue at the Doha climate talks. For more...

UN Climate Summit, Doha - PwC comment on Kyoto II, Loss & Damage, finance, and negotiations process

The UN Climate Summit in Doha has agreed the Doha Climate Gateway. PwC's team comment: PwC specialists comment below on the outcomes: to contact the...

07 December 2012

UN Climate Summit in Doha reaches d-day. What are the final day issues?

Ministers and negotiators are now in what they hope will be the final stretch before the conclusion of the UN climate conference in Doha. Discussions...

05 December 2012

Autumn Statement – PwC comment on implications for local authorities

Andrew Ford, partner, PwC, comments on the Autumn Statement implications for local authorities “The news that local authorities will bear the lion's share of the...

Autumn Statement – PwC financial services leader comments on financial services impact

Kevin Burrowes, UK Financial Services leader, PwC said "Our banks are still fragile and the challenging economic conditions look set to continue for some time....

PwC's head of tax policy on use of reliefs and incentives by businesses

Mary Monfries, head of tax policy and regulation at PwC, commented: "The Chancellor started by saying 'Britain is on the right track and to turn...

Autumn Statement - PwC comments on cancellation of the Fuel Duty rise

Phil Harrold, an automotive expert at PwC, commented: "The cancellation of the 3p per litre fuel duty rise that was planned to come in 1...

Autumn Statement - PwC: Middle England the biggest losers

Alex Henderson, tax partner at PwC, commented: "The Chancellor made clear his priorities and there were winners and losers. While everyone should benefit from businesses...

Autumn Statement - PwC on corporate tax measures

Stella Amiss, corporate tax partner at PwC, said: "All in all this was a solid and measured statement for British business. "The Chancellor made a...

Autumn Statement - PwC: targeting evasion won't increase revenues without new ways to resolve cases

Giovanni Bracco, tax dispute partner at PwC, said: "Targeting abusive tax avoidance and evasion by the wealthy is unlikely to bring greater revenues to the...

Autumn Statement – PwC comments on the impact on insurers

Colin Graham, insurance tax leader, PwC said: “For insurers, the corporate tax reduction to 21% reinforces the Chancellor's open for business agenda. This change will...

Autumn Statement – PwC comments on implications for the hedge fund industry

Rob Mellor, hedge funder leader, PwC said: “The hedge fund industry will be disappointed with the Chancellor's autumn statement today. “The industry has been lobbying...

Autumn Statement – PwC comments on bank levy increase

Matthew Barling, banking tax partner, PwC said: “Banks in the UK have already made a substantial contribution through the bank levy. There is a concern...

Autumn Statement - PwC comments on environmental issues

Autumn Statement - PwC's environmental tax team comment on the environmental related measures and what that means for the government's green overall ambitions. Jayne Harrold,...

AutumnStatement - PwC on changes to Overseas Work Day Relief and impact on expat employers

Ben Wilkins, international assignment partner at PwC, commented: "In an otherwise quiet Autumn Statement for expat employers, HMRC has acted in response to concerns about...

Autumn Statement - PwC on empty building rate relief

Commenting on the Autumn Statement announcement by the Chancellor to create a longer grace period before newly developed empty buildings fall within business rates, Simon...

Autumn Statement - PwC comments on gas strategy

Commenting on the gas strategy announcement in the Autumn Statement, Ronan O'Regan, director, energy and renewables said: "While the new gas strategy has expectations that...

Autumn Statement - PwC on anti-evasion measures for real estate

Commenting on anti-evasion measures proposed by HMRC and to be introduced in the Finance Bill 2013, Rosalind Rowe, PwC real estate tax partner, said: "Real...

Autumn Statement - Government needs to move quickly to reach new homes targets

Commenting on the Housing related announcements in the Autumn Statement, Richard Parker, partner, PwC said: "There was confirmation that the government is pursuing the £10bn...

Autumn Statement - Opportunity missed to take AIM on tax breaks?

PwC comments on consultation to boost AIM with ISA stocks and shares investment PwC comments on the announcement in the Autumn Statement of a consultation...

Autumn Statement - PwC comments on consequences for charities

Amanda Berridge, partner, PwC said: "After last year’s storm around the proposed cap on donations under gift aid, it's no surprise the Chancellor didn't venture...
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