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Finance | PASA issues guidance on GMP reconciliation for contracted-out DB pensions

The Pensions Administration Standards Association (PASA) has released phase one in a set of guidance for pension schemes on guaranteed minimumum pensions (GMP) reconciliation, which affects those who administer defined benefit pensions, and raises a number of issues regarding tax obligations and HMRC's requirement to send out individual member statements by the December 2018 deadline

20 Jan 2016

Business

Pensions

Image for grant thornton hires independent chair lead governance body

HR | Grant Thornton hires independent chair to lead governance body

Grant Thornton UK has announced that Ed Warner, who has not worked in the professional services sector, is to be the new chair of its partnership oversight board responsible for overseeing governance, replacing current chair, GT partner Steve Maslin

20 Jan 2016

Business

Careers

Leadership & Management

Accountancy Firms

Image for charity commission steps inquiry accounts E2 80 98double defaulters E2 80 99

Finance | Charity Commission steps up inquiry into accounts ‘double defaulters’

The Charity Commission has expanded its ongoing inquiry into charities who fail to file accounts in two consecutive years, adding a further 13 charities to the list for its class inquiry into so-called ‘double defaulters’

19 Jan 2016

Finance

Financial Reporting

Image for icaewciot challenge government over corporate interest deduction plans

Tax | ICAEW/CIOT challenge government over corporate interest deduction plans

ICAEW and CIOT have flagged up serious concerns over the government’s plans to introduce new rules on interest deductions as part of moves to meet its commitments under the OECD’s action plan on Base Erosion and Profit Shifting (BEPS), suggesting that these risk disadvantaging UK business and may not be necessary

19 Jan 2016

| Accountex exhibition set for 11-12 May 2016

The annual Accountex national accountancy exhibition and conference will be back at Excel London from 11-12 May 2016

20 Jan 2016

Business

Image for hmrc guidance obtaining personal nics data

Tax | HMRC guidance on obtaining personal NICs data

HMRC has published guidance for taxpayers who want to make requests for access to personal data that the tax department holds about them, under the scheme known as a subject access request (SAR), specifically national insurance details, under the terms of the Data Protection Act which gives individuals the right to get a copy of the information that is held about them

18 Jan 2016

Tax

Personal Tax

Tax Compliance

Image for limited liability partnerships llps plans accounting under micro entities regime

Finance | Limited liability partnerships (LLPs): plans for accounting under micro-entities regime

When FRS 102 was released, new regulations for limited liability partnerships (LLPs) was missing so a late consultation on new rules is leaving partnerships in a quandary over whether to make an early move to FRS 102 section 1A. Julia Penny FCA, divisional director, accounting at Swat UK, considers the options

18 Jan 2016

Finance

UK GAAP

Audit Consultations

Tax | House of Lords economic affairs committee to scrutinise Finance Bill

The House of Lords economic affairs committee has announced it will be looking at the draft Finance Bill 2016, with a particular focus on whether the proposed measures make the personal tax system simpler and their impact on the compliance burdens of individual taxpayers

18 Jan 2016