Tax Online Blog

Proposals to change the SORP

Proposals to change the SORP

Also: matters of material significance; two Charity Commission investigations; and a banking alert for charities. A draft Statement of Recommended Practice update bulletin has been issued, which deals with a number of matters arising from the revision to the underlying accounting standard – FRS 102 – and from developments in practice and law since the SORP was. Read more

June Online Service Updates

June Online Service Updates

What’s new in our tax online services? Steve Savory summarises the highlights. One of the most widely respected products in the tax list is Trust Drafting and Precedents by Geoffrey Shindler and Julie Bell, and it’s easy to see why. There’s a lucidity to the writing which is particularly welcome in this area. The following. Read more

IR35 Consultation

IR35 Consultation

The Government have recently issued a consultation document, seeking views on how best to deal with non-compliance with the IR35 rules in the private sector.  Rebecca Cave, contributor to several Bloomsbury Professional titles, looks at what this consultation might mean. Consultation on changing the IR35 rules The operation of the IR35 changed for public sector. Read more

HMRC expects!

HMRC expects!

Most practitioners will be aware that HMRC’s conduct and service standards are set out in a charter (‘Your Charter’), which is displayed on the GOV.UK website (www.gov.uk/government/publications/your-charter/your-charter). There is a statutory requirement for Your Charter to ‘…include standards of behaviour and values to which [HMRC] will aspire when dealing with people in the exercise of. Read more

One Month in a Minute: April 2018

One Month in a Minute: April 2018

FINANCE ACT 2018 Finance Act 2018 has received Royal Assent and may be found at Bloomsbury’s new legislation service for subscribers; related documents may also be found on the parliamentary website at https://services.parliament.uk/Bills/2017-19/financeno2/documents.html PERSONAL TAXATION Operation of tax reliefs in Scotland clarified HMRC has confirmed in a recent press release that: the marriage allowance (ITA 2007, s 55A. Read more

VAT news and cases roundup: April 2018

VAT news and cases roundup: April 2018

Afro-Caribbean takeaway food was provided hot to the customer Pegasus (Manchester) Limited v Commissioners for Revenue and Customs [2018] UKFTT 126 (TC) was an appeal against a VAT assessment for £117,254 for food sales that had been treated as zero-rated. HMRC argued that the food was served hot and was therefore standard-rated. The appellant was a. Read more

New guidance for auditors and what trustees should know

New guidance for auditors and what trustees should know

The FRC’s revised Practice Note 11 addresses a range of developments and has implications that trustees should be aware of. The financial Reporting Council (FRC) has re issued its guidance on the audit of charities – Practice Note 11 (PN11). Trustees of charities should be aware of what it covers. Chairs of audit committees especially. Read more

May Online Service Updates

May Online Service Updates

What’s new in our tax online services? Steve Savory summarises the highlights. Core tax annuals, April update The core tax annuals had their second quarterly update of the year. A huge range of technical developments and practical concerns were addressed across all six titles in these online-only updates. The following is just a very brief. Read more

Conference Report: Bloomsbury Professional Tax Conference – Taxation of Owner Managed Businesses

Conference Report: Bloomsbury Professional Tax Conference – Taxation of Owner Managed Businesses

Date: 12 April 2018 Location: Manchester Conference Centre, Manchester  Reported by: Mark McLaughlin Speakers reported: Pete Miller, The Miller Partnership Peter Rayney, Peter Rayney Tax Consulting Ltd Anne Fairpo, Temple Tax Chambers Steven Bone, Capital Allowances Partnership Jonathan Schwarz, Temple Tax Chambers Steve Collings, Leavitt Walmsley Associates Ltd Financing management buyouts Pete Miller noted that. Read more

General Data Protection Regulation (GDPR) – Guide for Accountancy Practices

General Data Protection Regulation (GDPR) – Guide for Accountancy Practices

Introduction The date for the GDPR implementation is getting closer. This article is designed to help accountants understand the new data protection regulations coming into effect on 25 May 2018. An overview of the new regulations can be found here. The GDPR is an EU regulation and builds on data privacy and security principles that. Read more

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