This article explores the manipulation of published financial reports in order to counter the potentially unfavourable impact of newly introduced regulation. In this case the reported capital ratio of a major building society was enhanced using a sale and leaseback transaction with a related...

This article explores the manipulation of published financial reports in order to counter the potentially unfavourable impact of newly introduced regulation. In this case the reported capital ratio of a major building society was enhanced using a sale and leaseback transaction with a related...

In this article, we examine the design and administration of Excess Profits Duty (EPD), introduced in the UK in 1915. This represented a significant innovation as the country's first comprehensive attempt to tax 'excessive' business profits. EPD was a complex tax which had two objectives: to...