Business and Other Briefings

FSA: A Financial Services Authority (FSA) review of advertising on financial firms' websites has found that three-quarters met the standards required.  However, the findings also show that a significant minority of the websites sampled failed to present information in a fair, clear and not misleading way, making it difficult for consumers to navigate and failing to sign-post key information.
 
The firms should take immediate steps to improve their websites as the FSA will be carrying out a further review in March 2008 and will take action if it finds further failings.
Press release ~ FSA review of website financial promotions ~ March 2005 review ~ Fe bruary 2006 review ~ FSA review into sponsored links ~ Financial Promotions
 
FSA: The Financial Services Authority (FSA) recently published a paper setting out its role in the development of the UK as the major European financial centre for Islamic financial products & services. Worldwide, Islamic finance has grown in recent years at a conservative estimate of 10-15% p.a. and is worth about £250bn globally.
 
The paper outlines the social & economic reasons and sets out how regulation has been an important factor, for the growth of Islamic financial products and services in the UK.  The paper also identifies some of the challenges & opportunities specific to Islamic finance.  The FSA does not regulate the Sharia compliance or otherwise of Islamic financial products.
Press release ~ Moneyma declear - Home_purchase_plans ~ Islamic Finance in the UK: Regulation and Challenges ~ Feasibility study of the Government becoming an issuer of wholesale sterling Islamic financial instruments ~ Islamic Finance Qualification (IFQ) ~ Glossary of Islamic financial terms ~ Islamic Banking in the UK
 
HMRCHM Revenue & Customs (HMRC) has launched the latest in its series of podcasts for agents and businesses. The first has been created for people who are setting up their own business or becoming self-employed for the first time.  The podcast gives a step-by-step guide to the listener, helping them to get things right from the beginning.
 
In the second podcast, Dave Hartnett, HMRC's Acting Chairman, answers a series of questions raised by tax agents at one of HMRC's on-line service workshops.
Press release ~ Download podcasts ~ HMRC: Online Services Workshops (Q&A) ~ Future roadshows (and click on region)
 
SOCA: The first Annual Report on the Suspicious Activity Reports (SARs) regime highlights substantial progress since Sir Stephen Lander's review of the regime of March 2006. – See ‘Annual Reports’ above.
 
HMRCRevenue & Customs Brief 71/07
This Brief gives details of an article : Inheritance Tax and the valuation of property owned jointly by spouses or civil partners.
 
HMRCRevenue & Customs Brief 70/07
This Brief gives details of an article: Research & Development (R&D) Tax Relief - Claims time limit change.
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