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HMRC Records Checks Worry Small Businesses


The Federation of Small Businesses (FSB) is concerned an HM Revenue and Customs (HMRC) consultation which closes on Monday, that could lead to implementation of spot checks on company records, will be used purely as a revenue raising exercise.


HSBC Pre-Tax Profits Double, But Shareholders Feel The Pinch


HSBC today announced its Annual Results for 2010, revealing pre-tax profits of £11.7 billion, more than doubling last year's total. The bank also saw a return to profitability in every customer group and region for the first time since 2006.


GDP Contraction: British Chambers of Commerce Comment


Commenting on the revised GDP figures and the business investment figures for the fourth quarter of 2010, published today by the ONS, is David Kern, Chief Economist at the British Chambers of Commerce


Financial Institutions Must be Clear on Deposited Funds' Origin Given Recent Political Unrest


At a time of unprecedented upheaval in the Middle East and North Africa, international financial institutions must be vigilant against accepting misappropriated funds, global compliance specialist World-Check has warned.


UK Economy Contraction: Economist Comments


The UK’s shock contraction of 0.5% has been revised to -0.6% by figures published by the Office for National Statistics (ONS).


Lloyds Group Returns to Profit of £2.2 Billion


The part state owned Lloyds Banking group today announced a return to profits, owing in part to a 6% reduction in operating costs alongside a 7% growth in income, despite the moderate performance of the British economy.


Banks Can No Longer Deny Small Businesses Finance on Appropriate Terms, Says Business Group


Banks can no longer deny small businesses finance on appropriate terms, says business group


'Big Four' Banks to Review Selling of Will-Writing and Executor Services


Barclays Bank, HSBC, Lloyds Banking Group and RBS Group have all voluntarily agreed to review and, where necessary, improve the way they sell will-writing and executor services following discussions with the OFT.


Growing Schism Within Monetary Policy Committee a Worry for Business


Minutes of Monetary Policy Committee meeting have been published today, revealing a growing schism within the committee about the decision to raise interest rates.


Public Sector Budget Shows £8.5 Billion Surplus


Data published today by the ONS detail aspects of the public sector’s financial performance, showing large reductions in both borrowing and expenditure.