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Tax | OTS calls on government to simplify tax for smallest companies

The over-complicated tax system needs an immediate overhaul for the smallest companies in the UK with a call for aligned filing dates, simpler short-term administrative improvements and longer term structure changles to reduce the tax compliance burden, says the Office of Tax Simplification (OTS)

3 Mar 2016

Tax | BACS payments need to be pulled forward to avoid Easter break

Due to the dates for Easter this month, payment dates need to be pulled forward to avoid delays in direct debits and Bacs direct credit, warns Bacs Payment Schemes

3 Mar 2016

Finance | MPs to scrutinise usefulness of government’s monthly management accounts

The Public Administration and Constitutional Affairs Committee (PACAC) has launched an inquiry examining the format and effectiveness of the government’s monthly management accounts, saying it is ‘not clear that they are of any use to select committees, or to the public’, despite the considerable amounts of money spent on producing and auditing them

3 Mar 2016

Tax | Treasury select committee challenges Making Tax Digital admin costs

The Treasury select committee is challenging HMRC’s plans for making tax digital (MTD) over concerns that the proposals to make digital tax accounts and quarterly updates mandatory for all businesses will increase, rather than reduce, the administration burden for many companies

3 Mar 2016

Finance | Grant Thornton loses sole FTSE 100 audit client in listing re-jig

Grant Thornton has lost the firm’s sole FTSE 100 client, as retailer Sports Direct has been relegated to the FTSE 250 following the most recent quarterly reshuffle of the top tier of the London Stock Exchange, which has seen four companies leave the benchmark listing in an audit market worth over £500m a year

3 Mar 2016

Tax | Tribunal rules Australian ‘resident’ but not ‘ordinarily resident’ for tax purposes

An Australian citizen who worked on a short-term contract in the UK as a tax manager for an international company has won part, but not all, of his appeal to the First Tier Tribunal (FTT) in the Ward case over tax assessments and penalties relating to salary and travel costs, with the tribunal finding that while resident, he was not ‘ordinarily resident’ for either of the years in question

3 Mar 2016

2 Mar 2016

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Finance | Companies House filing to go 100% online by 2019

Companies House has signalled its intention to move to online filing as the norm, declaring it intends to become a 100% digital organisation by the end of 2018/19 in order to increase efficiency and cut costs, in line with other government agencies

2 Mar 2016

Tax | Nunn: warning on stamp duty trap for divorcing couples

As the government sets its sights on the property market, Yvette Nunn, principal at Berkeley Associates, warns that couples facing divorce need to consider potential stamp duty pitfalls

2 Mar 2016

1 Mar 2016

Image for air passenger duty children under 16 abolished

Tax | Air passenger duty for children under 16 abolished

The government is to abolish Air Passenger Duty (APD) in economy class for children under 16 from 1 March 2016, joining kids under 12 who are already exempt from paying the tax

1 Mar 2016

Tax

Personal Tax

Image for country country reporting rules finalised eu750m turnover multinationals

Tax | Country-by-country reporting rules finalised for €750m turnover multinationals

UK-based multinationals or UK subsidiaries of multinationals with a turnover of €750m (£585m) will have to submit a country-by-country report (CBCR) to HMRC on an annual basis outlining their tax obligations within 12 months of the relevant reporting period

1 Mar 2016

Business | Charity Commission alert over commercial activities

In the wake of a number of incidents which have hit the headlines in the past year, he Charity Commission is issuing an alert to trustees at 1,700 charities warning them to review any commercial relationships they may have to ensure they have clear oversight and are managing risks such as potential conflicts of interest

1 Mar 2016

Business

Accountancy Firms

Image for tax data cgt data hmrc rates interest march 2016

Tax | Tax data: CGT data, HMRC rates of interest - March 2016

Download the HMRC CGT indexation allowance for November 2015, RPI Index for January 2016 and HMRC rates of interest, stamp duty land tax (SDLT) and land and buildings transaction tax (LBTT) rates, and more

1 Mar 2016

Tax

HMRC

Tax Compliance

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Tax | OECD tackles treaty residence of pension fund rules

The OECD has issued a consultation on proposals for changes to the OECD model tax convention covering the treaty residence of pension funds as part of its work on the Base Erosion and Profit Shifting (BEPS) action plan

1 Mar 2016

Tax

International Tax

Consultations

Tax | VAT updates: March 2016

Graham Elliott, VAT expert, considers the impact of transfer pricing issues in Temple Finance (TC04840) for separately registered companies, business classification dispute in Wakefield College case and updated MOSS guidance

1 Mar 2016

Finance | Audit updates: March 2016

In the latest audit and governance news, MPs slate Kids Company governance and poor financial management, FRC under growing pressure to take action over KPMG-HBOS audit scenario, Stagecoach flips auditors with hiring of EY and materiality reporting ramins sub standard

1 Mar 2016

Auditing

Corporate Governance

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Business | Development updates: March 2016

Grant Thornton UK LLP sets out long-term strategy and plans for shared enterprise, Mazars reports jump in fee income, Baldwins expands Midlands footprint with acquisitions, while one in three accountants thinking about changing job while FTSE 350 boards fail to meet diversity targets

1 Mar 2016

Business

Companies

Accountancy Firms

Leadership & Management

Careers

Image for cpd module homeworking expenses and tax relief understanding expenses rule changes

Tax | CPD module on homeworking, expenses and tax relief - understanding expenses rule changes

The latest CPD module from CCH Daily inc Accountancy Live focuses on expenses, tax relief and tax compliance issues for homeworkers and the self employed

1 Mar 2016

Tax | Employment tax updates: March 2016

Penalties for flouting national minimum wage hiked, payrolling benefits in kind guidance issued and apprenticeship levy framework clarified, by Jackie Hall, partner at RSM

1 Mar 2016

Tax

Employment Tax

Tax | Tax updates: March 2016

De Silva judicial review dismissed, LLP member loses in Vaines case over settlement agreement, appeal allowed over disputed P35 errors, buy-to-let landlords urged to review personal tax liability, Google tax agreement with HMRC under fire from MPs and duo of Big Four firms top Whitehall hospitality stakes

1 Mar 2016