Mullen Stoker - Durham Accountant, Business Advice, Tax Advice, Tax Returns, Durham, Uk

Posts Tagged ‘Treasury’

Private contractor Concentrix to lose HMRC tax credit contract six months early

Tuesday, November 15th, 2016

14-tax-credits-rex.jpg

Staff will not be losing their jobs

The private contractor accused of incorrectly stopping the tax credits of thousands of low income families will lose its contract six months early, staff at the firm have been told.

HMRC had already announced that Concentrix’s contract would not be renewed when it expired in 2017 – after a spate of stories that suggesting the tax authority and its contractor had stopped tax credits on the basis of “flimsy” evidence.

A staff bulletin said discussions were continuing about the remaining period of the contract, adding that Belfast-based staff will automatically transfer to HMRC.

(more…)

Brexit vote ‘will not dent economy this year’ as UK growth forecasts back to pre-referendum levels

Friday, October 7th, 2016

The UK’s decision to leave the EU will not dent growth at all this year, according to economic forecasts compiled by the Treasury, in a complete reversal of the gloomy short term forecasts made after the EU referendum. Panic has faded rapidly among the dozens of independent economists consulted by the Treasury as strong data in the three months since the vote reassured the analysts that any shock from the vote was far less severe than first feared. Forecasts for 2016’s GDP growth had been chopped to 1.5pc immediately after the 23 June ballot, but economists have reversed those downgrades and now expect growth of 1.8pc – exactly the same as they predicted before the vote. The study of dozens of analysts’ work also shows that forecasters still expect the economy to slow down next year, but they are increasingly revising those forecasts upward. In July the average prediction was for growth of 0.5pc in 2017, but now it almost doubled to 0.9pc – though it remains below the 2.1pc average forecast before the vote.

(more…)

newsletter
sitemap
contact us