Business and Other Briefings
OFT: The OFT is warning credit brokers to improve the way they deal with customers' upfront fees or risk losing their licences. The warning follows OFT action to revoke the credit licences of two associated businesses NIZ Financial (UK) Ltd and First Money Direct Ltd after uncovering unfair business practices. The OFT's decision to revoke the licences is subject to appeal and does not finally take effect until the end of any appeal process.
This brief confirms HMRC's view of the VAT treatment of commercially operated sports leagues.
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