The Finance Bill 2017-19, set to become the Finance Act 2018, had its second reading in Parliament yesterday. The Bill is providing further clarity and detail around Making Tax Digital (MTD) reporting, set to impact on businesses with a turnover greater than the VAT threshold initially for VAT purposes only from 2019, before businesses are asked to keep digital records for other taxes from 2020 onwards.
Exam results can have a great impact on a student's next decision: further or higher education, or an alternative route to the workplace.
From today, the Government has extended powers to act against those who don’t report information that could undermine UK financial sanctions.
All businesses, organisations and individuals have an obligation under financial sanctions regulations to report information which facilitates compliance. However, enforcement action could only be taken against firms or people in the regulated financial services sector who failed to report.
The extended powers, set out in new regulations, broaden enforcement to the following business areas from 8 August 2017:
Making Tax Digital (MTD), the government’s £1.3bn investment programme for HMRC to become the most digitally advanced tax administration in the world has been given a new timetable today.
MTD will see the introduction of digital record keeping and quarterly updates for the majority of businesses, self-employed people and landlords. Under the new timetable:
AAT members say the Government should increase the minimum wage, scrap its five different rates and review naming and shaming non-complying practices.
AAT recommends the government consider that a grace period is granted to afford firms and individuals time to adjust to their new obligations.
Licensed members of AAT have reported that the future for the accounting profession is bright despite fears over the rise in automation.
After what started off as a nailed-on-certainty for the Conservatives, an election that was Theresa May’s for the taking, we have watched the gap between the two main parties inexorably narrow in recent weeks.
But, now that we know that the outcome has kept the Conservatives in power, albeit propped up by the DUP, what does the post-election tax-landscape look like?
Everything is up for grabs
AAT (Association of Accounting Technicians) today confirmed that it has been approved as the latest member of the Association of Professional Political Consultants (APPC).
AAT is the first accountancy body to be accepted as a member of the APPC and the first Awarding Organisation, too.
The APPC is the regulatory and representative body for professional political practitioners. Its main role is to ensure the highest standards of honesty, integrity and professionalism amongst its members.