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Evolution or Revolution?

 
Andy Gwyther and Peter Wright of Deloitte consider how UK life insurance companies are responding to the rapidly changing face of tax process and risk
 
'It's time for tax!' cries an ever-larger chorus of Board members Regulators and Investors. Tax Directors grappling with new demands and the clamour for more information are trying to adjust to the glare of the spotlight — a recent Deloitte survey showed that 77% of Tax Directors have changed their approach to tax management in the last two years.
 
But even when the pressures such as Sarbanes-Oxley and IFRS have settled down the pace of change shows no sign of slowing judging by the amount of proposed new tax law and administration from HMRC under consultation. Companies will have completely...

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