9am Lowdown: GDP, HMRC and EU

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Good morning, folks! Here's all the news from around the world and on the site.

Latest news

David Davis was forced to issue a statement clarifying his own remarks yesterday, after he appeared to suggest parliament may not get a vote on the final Brexit deal until after Britain has left the European Union. (The Guardian)

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Foreign banks contributed £17bn to the UK’s public finances in the latest financial year, raising concerns about potentially significant tax losses if overseas lenders accelerate plans to shift staff and operations elsewhere in Europe. (FT)

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The UK economy grew by 0.4% in the third quarter of 2017. That’s up from 0.3% in the second quarter, and a little better than the City expected. (The Guardian)

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Businesses are building up deposits and shying away from taking out loans according to new data from UK Finance. (Telegraph)

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Britain’s tax authorities have bankrupted a UK-based technology company by ditching its services in favour of a deal with Amazon, the US company accused of widespread tax avoidance. (The Times)

Latest on AccountingWEB

The CIPP's Terri Bethel advises on how to avoid the most common errors when applying the NMW. And Hugh Johnson writes at length on how to set analysis periods in Power BI for your Sage 50 data.

On the blogs, Kevin Phillips muses on whether spreadsheets have become victims of their own success. While AccountsIQ is running a live webinar on the topic of "Digital Transformation: Scoping and implementing a new finance system". Sign up for the webinar here.

 

About Francois Badenhorst

I'm AccountingWEB's business editor. Feel free to get in touch with comments, tips, scoops or irreverent banter. 

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