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GDPR – one year on

by | Jul 31, 2019 | Tax News

Measuring the impact and what to focus on now. Reflecting on the first year of GDPR, the ICO highlights that ‘the focus for the second year of the GDPR must be beyond baseline compliance – organisations need to shift their focus to accountability with a real evidenced...

A Review of Competition Law

by | Jul 24, 2019 | Tax News

The Competition and Markets Authority (CMA) is an independent, non-ministerial government department. It seeks to enforce competition and consumer law to make markets work well for consumers, businesses and the economy. Competition law promotes fair trading between...

How to reduce or avoid HMRC VAT penalties

by | Jul 17, 2019 | Tax News

VAT penalties can be confusing, but depending on the type of compliance breach they either follow the same penalty regime which applies to direct taxes or a VAT specific penalty regime. Penalties can be issued for: failure to notify of VAT liability late filing HMRC...

VAT – Reimbursement or disbursement

by | Jul 10, 2019 | Tax News

Knowing the difference is important in getting the right VAT treatment. The difference between reimbursement and disbursement is significant from the VAT point of view as reimbursements are subject to VAT, while disbursements are outside the scope of VAT. If a...

MTD vs digital records

by | Jul 3, 2019 | Tax News

An insight into what could be termed as ‘digital records’ under MTD. With effect from 1 April 2019, if your taxable turnover is above the VAT registration threshold (currently £85,000), you are required to continue to keep digital records and send HMRC...

Reforms to protect businesses from fraud

by | Jun 27, 2019 | Tax News

Have your say on proposals to further safeguard businesses from fraud. Companies House Improving the accuracy and usability of data on the register consultation contains a number of reforms including some that you, and ACCA on your behalf, have been highlighting to...

Tax free childcare

by | Jun 18, 2019 | Tax News

Scheme could reduce childcare costs by up to £2,000 per child per year. Childcare vouchers (and directly-contracted childcare) were withdrawn for brand new applicants from 4 October 2018. Those who had not already signed up for childcare vouchers previously must have...

Payment services authentication

by | Jun 11, 2019 | Tax News

Are you preparing for an extra layer of authentication for online payments? In September, Strong Customer Authentication (or SCA) will have significant implications on how all businesses handle online transactions in the European Economic Area (EEA), where both payer...

MTD well underway

by | Jun 7, 2019 | Tax News

The latest guidance now the first quarter is well underway. The first quarter is now well underway, covering 1 April to 30 June. VAT 700/22: Making Tax Digital for Vat has been updated with guidance on a number of areas added, covering supplier statements, petty cash...

Law breaking employers targeted

by | Jun 4, 2019 | Tax News

The Pensions Regulator launches new campaign. In the coming weeks, The Pensions Regulator (TPR) will be targeting its new wave of compliance checks at employers across the UK who are suspected to be non-compliant with their automatic enrolment duties. Employers are...

Spring Statement 2019

by | Mar 23, 2019 | Tax News

The traditional Spring Budget has been replaced by a smaller Spring Statement this year. Autumn’s main Budget will be when the Chancellor announces major tax and spending changes, and any other new measures. There was all the familiar ifs, buts and maybes around...

Welsh rates of income tax (WRIT)

by | Mar 21, 2019 | Tax News

The Welsh rates of income tax (WRIT) will come into effect from 6 April 2019. The following has been extracted from HMRC guidance for employers and employees. HMRC will tell employers which tax code is appropriate to apply to an employee in advance of the introduction...

MTD for VAT – exemptions and deferrals

by | Mar 7, 2019 | Tax News

The starting line is only a few weeks away but do all of you need to be involved on 1 April? MTD for VAT seems to have been in the pipeline for a long time now and most businesses will be only too aware of the basic rules. From April 2019, most VAT-registered...
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