David Nicholson tells you what you need to know.

One of the side effects of the financial crisis to have taken hold in the United Kingdom (and elsewhere of course) is that the tax authorities have sharpened their teeth. In the boom years of 2001 to 2007, British companies and individuals were generally doing very well. Their earnings and profits were rising, and they were happy to pay higher amounts of tax each year, on time, because they felt confident they would earn even more next year.

In mid 2007 that began to change with the collapse of various high-profile investment banks in the United States; with the first signs of a peak in the UK and US property markets; and with a gradual ebbing of confidence in the whole financial system...

David Nicholson is a London-based freelance writer specialising in business, property, IT, sport and travel. Please see www.davidnicholson.com for sample articles or contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

This article was originally published in the Mar/Apr 09 issue of YourTradingEdge magazine (www.YTEmagazine.com). All rights reserved. © Copyright 2009, MarketSource International Pty Ltd. If you are not a subscriber, click here to subscribe, or to purchase this issue as a single back issue, click here.