Ideas and insights

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'Software glitches' doesn't bode well for Making Tax Digital

16 May 2017

We commented recently on problems with HMRC’s tax return software for 2016-17 and the fact that tax was wrongly calculated for certain combinations of income. The issue has come up again following a recent tax tribunal, but what does this mean for the digital future for tax?

Apprenticeship Levy in construction sector
Kelly Boorman

16 May 2017

The construction sector is in the midst of a skills crisis. Over 400,000 workers are expected to retire over the next 10 years. A restriction on the availability of EU labour can potentially have a significant impact and there are fewer apprenticeships available now to train new talent than before the crash.

Tackling cyber crime complacency

15 May 2017

Cyberattacks are disruptive at their most basic, so why aren’t organisations doing all they can to prevent them?

Tax voice May 2017

13 May 2017

This month’s tax voice features investment funds, a country by country wake up call, substantial shareholding exit rule changes and HMRC tax penalties not as straightforward as it seems.

Country by country reporting wake up call

13 May 2017

It has been five years since George Osborne and his G7 counterparts kick-started the overhaul of the international tax system, leading to the OECD’s base erosion and profit shifting (BEPS) action plan. Companies that are part of multinational groups now need to take action to comply with updated UK legislation concerning perhaps the most far reaching consequence of BEPS – country by country (CbC) reporting

Proposed substantial shareholding exit rules changes offer interesting tax planning options

13 May 2017

For some time the UK tax system has afforded a tax exemption – called the substantial shareholding exemption (SSE) – to provide a complete exemption from tax on profits made by corporate shareholders on the disposal of shares in trading companies.

Explaining investment funds

13 May 2017

When investing in collective investments or funds, the tax you pay can vary substantially depending on the choices you make. We can’t tell you which funds to pick to make your fortune, but we can answer some common questions about how they work.

HMRC tax penalties - not as straightforward as it seems

13 May 2017

There is no doubt HMRC has become more focused and aggressive in its approach to penalties. In fact, it is safe to say penalties is an area that takes a significant amount of an adviser’s discussion and review time to ensure that HMRC is working within the parameters set, and that clients are not being overly penalised.

FCA business plan 2017/18
David Fenton

FCA Business Plan 2017/18 – trends and implications for regulated firms and markets.

Pub and restaurant groups see return to sales growth in April

11 May 2017

Managed pub and restaurant groups were back in growth in April, with collective like-for-like sales up 4.4 per cent compared to the same month last year, latest figures from the Coffer Peach Business Tracker show.