Ideas and insights

Displaying 10 of 1338 results
Why does tax on reward current accounts have to be so taxing?

09 May 2017

Those with a reward current account will probably have received a tax deduction certificate showing that the reward payment has had basic rate tax deducted at source. Such payments are not considered as interest and therefore do not benefit from the Personal Savings Allowance (PSA). If you are a non-taxpayer, you can recover the basic rate tax deducted but for those within the higher and additional rate bands, the reward payment and the tax paid should be included on your tax return. Does the UK tax system really need to be this complicated?

Making sure employees are paying the right amount of tax

09 May 2017

HMRC has recently published a newsletter to employers which outlines the common areas for which business expense claims can be made by employees where the employer’s expense policy does not cater for reimbursing the cost. Many employees are often unaware that they could make a claim for certain expenses and it looks like HMRC are using employers to spread the word.

There’s no such thing as a VAT-free lunch, or is there…?

09 May 2017

Many UK schools and colleges could benefit from a VAT windfall of tens of millions of pounds, plus interest, thanks to a ruling from the European Court. Under EU VAT law the provision of education by eligible bodies – including universities, colleges and independent schools – is exempt from VAT. In a landmark decision, the CJEU has confirmed that sales to the public such as catering sales in training restaurants and admission charges to theatrical performances by students, are services closely related to the provision of education, and also exempt from VAT.

Landlords: beware when incorporation sounds too good to be true

09 May 2017

The internet is awash with information for landlords on the benefits of incorporation, but the promised tax reliefs will not be available to all. Landlords are therefore advised to seek advice relating to their own specific circumstances before rushing to incorporate. Unfortunately in tax if something sounds too good to be true, it usually is.

FRS 102 - triennial review – FRED 67 draft amendments
Danielle Stewart OBE

08 May 2017

On 23 March 2017, the Financial Reporting Council (FRC) issued FRED 67 Draft Amendments to FRS 102 - Triennial Review 2017 proposing incremental improvements and clarifications to FRS 102.

Duty to report on payment practices and performance
Rachel Khiara

05 May 2017

For financial years beginning on or after 6 April 2017, large companies and large LLPs have a duty to report on a half-yearly basis on their payment practices, policies and performance in relation to qualifying contracts.

Further education and skills – reviewing areas for change

04 May 2017

It’s been a period of unprecedented change for the further education and skills sector. The sector must adapt and respond in order to overcome future challenges and to maximise opportunities. Here we discuss some of the biggest issues and provide practical solutions that will help education and training providers remain fit for today and tomorrow

Apprenticeship reform - thinking beyond the levy
Karl Bentley

04 May 2017

It is estimated only 2 per cent of employers will pay the levy so what is happening for the other 98 per cent of employers?

Audit code of practice
Dominic Blythe

04 May 2017

The SFA and EFA have updated the post-16 audit code of practice (common standard for the provision of assurance in relation to funding of sixth-forms and further education colleges) – what do the changes mean for your organisation?

Corporation tax - do US changes end UK’s race to the bottom?

03 May 2017

The UK tax policy of offering the lowest corporation tax rate in the G20, with a rate of 17 per cent from 2020, may be unsustainable once the proposed US tax changes are in force. We consider the issues.