Changes to value added tax could cost financial institutions that outsource so-called "back office" services up to £200m a year, according to management consultants serving some of the UK's biggest companies. The impact of the changes, announced in the Budget, is to put VAT on credit management services provided to financial institutions - typically outsourced credit and debit card services provided to banks....more

DUTY
N Ireland trucks chase cheap fuel
The Budget's increase in excise duty has led to an exodus of Northern Ireland hauliers to the Irish Republic where diesel is almost a third cheaper. The 6p a litre increase that came into effect yesterday means diesel is now about 20p less at filling stations in the south, where there were huge queues of truckers from Northern Ireland. In the Republic, diesel is I£0.53 (62p) a litre, the pre-Budget price in Ulster....more

CONSULTANTS TARGETED
Move 'undermines policy on IT'
The government was accused of undermining its own policy of encouraging information technology with a Budget measure designed to stop professionals cutting their tax bills by working as "consultants"....more

CORPORATION TAX
10p tax rate comes as a welcome surprise
There was good news for both small and big business in the Budget, with a new 10p corporation tax starting rate for 270,000 growing companies and clear signals that much feared reforms of capital gains tax and avoidance rules are to be ditched....more

STAMP DUTY
Loophole for assets sale overseas closed
Businesses that try to escape stamp duty by executing sale documents overseas could face charges as part of a new package of stamp duty compliance measures....more

MOBILE PHONES
Licence relief opens horizons
The government is planning to introduce tax relief on the cost of buying licences to supply the next generation of mobile phone services, in a move with significant implications for capital investment in intellectual property across industry....more

PROPERTY
Landlords face tenant lease incentives
The sums landlords pay to induce potential tenants to take out a lease - often called reverse premiums - will be subject to tax....more