There has been a steady flow of spreadsheet horror stories from public companies hitting the headlines in recent months – the latest being Conviviality. While the details are not in the public domain, I am particularly struck by the fact that none of these situations appear to have involved especially complex application or use of spreadsheets.
We have previously commented on HMRC’s change of view on penalty abatements where tax irregularities are identified. Urgent clarification of the new penalty interpretation from HMRC is still needed before taxpayers are unexpectedly named and shamed.
A recent OTS report suggests that introducing a new tax relief for corporate investors could unlock much-needed capital for UK businesses, but would this extra complexity help or hinder growth?
Setting up a trust can deliver many benefits, but selecting the right trustees is crucial. Before taking the plunge, we map out a useful checklist to help the decision-making process.
Brexit will probably be boring, the world will not implode, the US will face a fiscal crisis and inflation but maybe not for some time and interest rates will gravitate up towards the heady heights of 2-3 per cent before the next recession brings them back down.
The tax and national insurance contribution (NIC) treatment of termination payments has changed. Although the background is simplification, these changes are far from simple and will often result in increased tax and NIC liabilities.
With the Office of Tax Simplification (OTS) reviewing the way inheritance tax could be simultaneously simplified and made more effective, we offer three suggestions to reduce people's worries, make it simpler to administer and focus it more precisely.
There has been a buzz for some time now amongst the hospitality industry about the crucial role that 'experience' plays in a successful operation. The conventional wisdom is that, in a crowded F&B sector, the best way to differentiate is by offering a unique experience.
A recent tribunal case in which participants gave evidence via video link could open the way for more virtual courtrooms - a development that should increase access to justice and save everybody time and money.