Late payment of fees remains one of the most frequently encountered problems faced by accountants hired as expert witnesses. Dr Chris Pamplin of the UK Register of Expert Witnesses explains what you can do to minimise the risks
The Budget 2017 is unlikely to be looked back upon with particular sepia-tinged fondness by anyone, but the Chancellor did just enough to satisfy business, says the Institute of Directors head of taxation Stephen Herring
Alice Pearson ACA CTA, senior tax manager at Mercer & Hole, considers the key tax changes affecting corporate and individual landlords in Budget 2017 including the CGT indexation allowance impact on asset sales to rent a room review and mileage allowances
The Institute for Fiscal Studies (IFS) has warned that anaemic growth and the likelihood of further cuts mean wages will be no higher in 2022 than in 2007
In a Budget bereft of detail on Making Tax Digital, the government did confirm that it will release a revised costings document on the impact of the introduction of the VAT reporting changes on 1 December
This week CCH Daily chats to Wilkins Kennedy’s audit and accounts director, David Green, about why he switched to an accountancy after studying sciences, his dream role and how he became a director so quickly
Acquisition-hungry accountancy firm Baldwins has announced it is expanding into Cornwall for the first time, merging with local firm Potter Baker Chartered Accountants
Listed companies’ risk disclosures have become more detailed since the financial crisis, but investors still want more information to provide a better understanding of how boards identify and manage risk to protect the sustainability of companies, according to a report by the Financial Reporting Council’s (FRC) financial reporting lab
In this week’s moves and appointments roundup, RSM promotes two memebers to partner, Price Bailey promotes two senior managers and a director and Blair Nimmo, head of restructuring at KPMG, is appointed global head of insolvency for KPMG international
A Chinese restaurant owner, who was jailed for VAT fraud, has been sent back to prison for an additional 20 months for failing to repay some £65,000 of the money he stole under a confiscation order
Paul Cosgrove, a director of TBP & Son Ltd, has been disqualified for eight years failing to ensure the company maintained its books and records after his waste management company went into liquidation owing over £680,000 to HMRC
Insolvency specialist Duff & Phelps has been appointed administrators to high street furniture retailer Multiyork, which has collapsed putting some 550 jobs at risk
The plan to tax royalties posted overseas on the back of UK-based sales from April 2018 sets a clear pointer in terms of the government's general approach to clamping down on aggressive tax planning by the digital multinational giants like Amazon, Apple and Google. Philip Smith asks whether the Budget proposal will work
As the Chancellor leans on anti-avoidance and evasion measures to raise revenue, CIOT tax policy director John Cullinane raises concerns over the way some policies in the Budget were formed
Paul Davies ACA, specialist tax writer at Croner-i, gives a round-up of the key changes to corporate taxes announced in the Budget, from freezing the indexation allowance on chargeable gains to the increase in R&D relief and tightening of the corporate interest restriction rules
Stephen Relf CTA FCA reviews the Budget announcements affecting capital gains tax and business-related CGT increases, including changes to depreciatory transactions and freezing the capital gains indexation allowance at CPI
Elements of the hybrid mismatch regime are to be amended, it has been confirmed in the Budget, although the changes are not intended to alter the scope of the scheme
The Insolvency Service has published details of an eight-year restriction on Lincoln accountant Russell Payne for failing to disclose to the Official Receiver that he had disposed of assets in the lead up to his bankruptcy over £4.5m of debt
The government has moved to prevent companies waiting for the six year limit for reporting depreciatory transactions to elapse, it has been confirmed in the Budget
Plans unveiled as part of the Budget papers to move to a points-based penalty system for late or missing tax returns have been criticised by the Association of Taxation Technicians (ATT), over concerns the decision could result in unintended consequences, particularly when the Making Tax Digital regime starts
The Budget included a measure clarifying the corporation tax treatment of the disposal of intangible fixed assets, designed to tackle ‘step up’ tax avoidance schemes by bringing the rules for all non-cash disposals and related party licensing arrangements in line with cash transactions
The government has outlined plans in the Budget to increase the time limits for assessing all offshore case of potential tax avoidance to at least 12 years where non-compliant behaviour is involved, with a consultation on this in spring 2018
Mark Cawthron LLB CTA assesses the first autumn Budget in 20 years, outlining the key measures and stressing that a far from radical Budget actually disguised a number of significant tax measures
There was little in the way of substantive announcements in the Budget and many with an arguably small impact on Exchequer but significant changes lurk beneath the surface, warns Bill Dodwell, head of tax policy at Deloitte
Julie Clift CTA reviews the key changes to employment tax in the autumn Budget from company car tax changes to plans to widen the reach of IR35 legislation to the private sector and measures to tackle disguised remuneration
Croner-i tax experts review the key property tax measures announced in the autumn Budget from CGT on non-residents’ gains to ATED rises and stamp duty abolition for first-time buyers purchasing properties valued under £300,000
Meg Wilson CTA, specialist tax writer at Croner-i, unpicks the key avoidance and evasion measures announced in the Budget including disguised remuneration, abuse of the NICs employment allowance and related party schemes involving intangibles
Written by our expert team of tax authors, the Croner-i 2017 Autumn Budget Insight Report delivers expert opinion and commentary on the latest major tax changes
The Charity Commission has opened a statutory inquiry into Grove Mountain, and has frozen its bank accounts, over financial concerns at the charity, which provides books to the Caribbean for educational purposes
The government has committed to an expansion of electric cars on UK roads by announcing a £400m investment to provide more roadside charging points and has put a further £100m in to the Plug-In Car Grant to help individuals purchase an electric vehicle
University graduates will no longer temporarily overpay hundreds of pounds on their student loans as Chancellor Philip Hammond announces changes to the student loan and HMRC systems
The government has pledged to invest millions of pounds in to maths development and training programmes to help prepare the next generation of accountants and bankers for the new economy post-Brexit
In the Autumn Budget, Chancellor Philip Hammond announced a raft of measures to improve the environment such as investment in electric cars and tax breaks for employers who provide electricity for employees to charge their ultra-low emission vehicles
The Budget included proposals for two changes to the double taxation relief targeted anti-avoidance rule (TAAR), in a bid to bring it into line with similar anti avoidance measures and to cut down on abusive arrangements
The Budget contained a measure aimed at tackling employers who have a history of misusing the employment allowance (EA) to avoid paying the correct amount of national insurance contributions (NICs), by requiring employers to pay a bond equivalent to the amount of relief
As part of the clampdown on abuse of disguised remuneration by company directors, the government plans to introduce further measures in Finance Bill 2018 to tackle existing, and prevent future use of, disguised remuneration tax avoidance schemes
The Chancellor included an early warning in the Budget of the government’s plans to tackle VAT fraud in the construction industry, by introducing a domestic ‘reverse charge’ VAT scheme for construction services
Additional resources allocated to HMRC to combat tax avoidance and evasion are expected to generate an extra £2bn according to the Budget 2017’s costings, reports Calum Fuller
From 22 November 2017 first time buyers paying £300,000 or less for a residential property will pay no stamp duty land tax (SDLT), saving up to £1,500 on their first home purchase
Chancellor Philip Hammond has announced that the income tax personal allowance will rise for the eighth year in a row to £11,850, and the higher rate threshold will increase to £46,350, from April 2018
After a review of the Gift Aid donor benefit rules, the government announced plans in the Budget to simplify the rules for charities using donor tax relief and realign existing thresholds to a simpler two-tier system
The VAT threshold has been frozen at £85,000 for the next two years to give the government time to review the current system and consider proposals for reform
Short-haul air passenger duty (APD) rates for 2019-20 will remain frozen as they have been since 2012, and there will be no increases in long-haul rates for economy passengers, although there will be an increase in the business class multiplier, the Chancellor announced in the Budget
Chancellor Philip Hammond shied away from announcing confirmed action on a number of employment-related tax issues in his Budget speech, but the Treasury has said it will be consulting on how to tackle non-compliance with IR35 intermediaries legislation in the private sector next year
Several changes to the business rates regime including shorter intervals between revaluations and a switch from the Retail Price Index (RPI) to the Consumer Price Index (CPI) have been announced by the Chancellor as part of the Budget
The Chancellor has introduced a measure to grant relief from tax due under the higher rates of stamp duty land tax (SDLT) in certain cases, including where a divorce related court order prevents someone from disposing of their interest in a main residence
The Budget includes a measure to remove certain transitional rules that are no longer required for the effective taxation of amounts of carried interest that are charged to capital gains tax (CGT) under the carried interest rules which took effect from 8 July 2015
The annual allowance for people investing in knowledge-intensive companies through the Enterprise Investment Scheme (EIS) is to double, Chancellor Philip Hammond has confirmed in the Budget
As an incentive to get more individuals investing in electric vehicles, Chancellor Philip Hammond has announced that there will be no benefit in kind (BiK) charge on the electricity that employers provide to allow employees to charge their electric vehicle
Chancellor Philip Hammond said the new digital economy raised wider concerns about the tax system, and indicated in his Budget that the UK intends to take action ahead of reaching agreements at an international level about the way forward
In a surprise move, the Chancellor has announced plans to freeze the capital gains indexation allowance and set it in line with Retail Price Index (RPI) fixed as of December 2017 and it will not be reviewed monthly as the current practice
For the first time, the Scottish Police Authority and Scottish Fire and Rescue Service will be able to recover VAT incurred on their purchases, the Chancellor confirmed in the Budget
The government is now accepting claims for the marriage allowance in cases where a partner has died before the claim was made, with such claims being able to be backdated by up to four years provided all other conditions for the allowance are met
The Budget proposals include a measure designed to tackle the use of insolvency to escape tax debt by expanding the current security deposits legislation, in a bid to recoup some £150m of tax annually, as well as a planned review of airline insolvency
In his Autumn budget, Chancellor Philip Hammond announced that the fuel duty rise, which was scheduled for April 2018, has been cancelled and rates have been frozen at 57.95 pence a litre for the eighth year, saving the average driver £160 a year
The government is to extend HMRC’s powers to combat online VAT fraud, with new legislation to be effective from April 2018, the Chancellor announced in the Budget
From April 2018 the company car tax diesel supplement will increase to 4% from 3% for diesel cars that do not meet emission standards, while cars that do meet the standards will have the diesel supplement scrapped
The Budget outlines proposals to extend capital gains tax (CGT) to all non-resident gains from April 2019 in a measure set to bring in up to £160m annually
As part of government plans to improve air quality, from April 2018 diesel cars will have their first year rate of Vehicle Excise Duty (VED) increased by one band unless they meet emission standards, as announced by the Chancellor in the Autumn Budget
Former members of the military who receive an armed forces pension are being advised to check how much tax they are paying amid concerns HMRC may have issued an incorrect code
The UK has the second most effective tax system in the G20, but has dropped down to number 23 in the global rankings, according to a study by PwC and the World Bank Group
Latest statistics show that corporation tax receipts are up by 18.3% compared to a year ago, suggesting progressive cuts in the rate are encouraging greater business activity, according to analysis by Blick Rothenberg
The International Federation of Accountants (IFAC) is calling for nominations for two key roles on its volunteer board and positions on three of its committees, saying it is seeking diverse candidates that reflect the depth and breadth of the global accountancy profession
UK charity regulators are urging auditors and independent examiners to adopt a more proactive approach to reporting any concerns they come across in charity finances or governance, beyond the legal minimum, in response to claims from MPs that auditors have been slow to flag up potential problems
This article, the second in our series on the Companies Act 2006, will focus on how to form a company, through to the essential documentation to ensure a new company complies with the legal framework as set out in CA 2006 Part 2
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