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Graduates face £1bn stealth tax
Graduates are facing a £1bn stealth tax due to measures announced in the Budget. The salary threshold for repaying student loans will freeze at £29,385 from April 2027 for those who started their degrees between September 2012 and July 2023. This change means more graduates will start repaying loans sooner as their salaries increase. Graduates…
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Stamp duty holiday for new listings
Chancellor Rachel Reeves has introduced a three-year stamp duty holiday for new companies listing in London. This removes the 0.5% tax on shares purchased in newly listed firms for three years following the IPO. Dame Julia Hoggett, CEO of the London Stock Exchange, welcomed the move, saying that it acknowledges the “vital role equity markets…
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Attorneys general urge Congress to reject ban on state AI laws
Republican and Democratic attorneys general from 35 states and the District of Columbia have sent a letter to congressional leaders calling on them to reject a ban on states’ ability to enact artificial intelligence (AI) laws. “While AI promises to be a transformative technology in numerous fields, it also poses significant risks – notably to…
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Navigating the new crypto tax landscape
Walter Hellerstein, Distinguished Research Professor Emeritus at the University of Georgia Law School, and Andrew Appleby, associate professor at the University of Tennessee, explore the state tax implications of federal income tax guidance on cryptoassets. The Working Group on Digital Asset Markets released a 160-page document titled “Strengthening American Leadership in Digital Financial Technology,” which…
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SEC drops SolarWinds cyber case
The SEC has dismissed its high-profile lawsuit against SolarWinds and its chief information security officer, Timothy Brown, over the 2020 Russia-linked Sunburst cyberattack. The case, filed in 2023, accused the firm of hiding security flaws but faced judicial pushback and industry criticism. A joint motion to dismiss with prejudice was filed Thursday. SolarWinds welcomed the…
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Internal audit profession faces existential pressures faced by finance leaders
A global survey of 213 internal audit leaders by AuditBoard has revealed the profession is under acute strain, challenged by stagnant resources, the rapid rise of AI, and a persistent identity crisis. Despite the belief that AI will transform internal audit within five years, only 28% of leaders feel confident in their teams’ ability to…
