ACCA calls for collaboration with professional bodies to ‘internationalise’...
ACCA has announced five recommendations for implementing an “effective” strategy for international trade once the UK leaves the EU. Ahead of the general election on 8 June, ACCA called on the next...
View ArticleHBOS in 2017: The ongoing scandal
John Colvin of berg discusses the background to the HBOS scandal, including what the next steps are for small businesses affected. In January this year, six people, including two HBOS bankers, were...
View ArticleAdapting to change: Regulatory developments leading the way in CFD trading
Contracts-for-difference (CFDs) are currently undergoing a significant period of change, with regulatory control on financial trading having tightened in recent years as regulators seek to crack down...
View ArticleThe UK’s post-Brexit trade policy options
The Queen’s Speech on 21 June announced that the government “will seek to maintain a deep and special partnership with European allies and to forge new trading relationships across the globe. New bills...
View ArticleMinimising cyber security risk: The first steps
As the NHS hack earlier this year showed, no organisation is too big or too small to not take data breaches and data theft seriously. The bad guys are out there. For some, it is pure mischief –...
View Article5 reasons not to overlook the Common Reporting Standard
It’s easy to glaze over when the word global crops up if you don’t have an international client base. However the various information exchange schemes designed to tackle global tax avoidance need to...
View ArticleFCA fines Merrill Lynch £34.5m over reporting failures
The Financial Conduct Authority has slapped Merrill Lynch with a £34.5m fine for failing to report almost 69 million exchange traded derivative transactions between February 2014 and February 2016....
View ArticleCASS regulations: Are you compliant?
Designed to protect client assets and money, CASS regulations have become particularly significant for both businesses and the Financial Conduct Authority since the collapse of Lehman Brothers in 2008....
View ArticleICAEW: Companies House data a “gaping hole in AML defences”
New research quantifies the extent of Companies House inaccuracy as the ICAEW urges the Treasury and BEIS to shore up defences. “We’ve been saying for some years now that it’s quite a gaping hole in...
View ArticlePRR: how will your clients be affected?
Next year a number of changes to private residence relief (PRR) are expected. The two headline changes are the reduction in the final exemption period from 18 months to nine months and the introduction...
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New research highlights global financial reporting harmonisation
Much has been written about transformation in the last year, and finance is no exception to this rule. As this global trend continues to develop, statutory reporting also falls under scrutiny for...
View ArticleEnhancing and enabling global financial reporting
Much has been written about transformation in the last year and finance is no exception to this rule. As this global trend continues to develop, statutory reporting also falls under scrutiny for...
View ArticleImmediate action required to meet new AML legislation
At the end of last year, the Government introduced the Fifth EU Money Laundering Directive (5MLD), which will come into force on 10 January 2020. As part of the ‘The Money Laundering and Terrorist...
View ArticleOrder restored to private residence relief computations
When you purchased your home, when did you consider that you became the owner? From the date of exchange in the solicitor’s office when you paid your deposit – or from the date of completion six weeks...
View ArticleIR35: Four out of ten companies considering dropping contractors
Four out of ten businesses are considering phasing out contractors when IR35 legislation is introduced, according to a survey conducted by Be Digital UK. The survey is part of a continuing study into...
View ArticleFCA say firms act without “foresight”, but principles attacked over lack of...
FCA director of enforcement and market oversight Mark Steward attacked firms for not fully considering the regulator’s principles, but event delegates demand clarity. The FCA’s Mark Steward accused...
View ArticleIR35: HMRC denies creating ‘culture of fear’
HMRC has denied claims that the proposed changes to IR35 are creating a “culture of fear” for contractors and corporations. “If you look at all the letters they send out and if you look at what they’ve...
View ArticleBudget 2020: IR35 paying for tax cuts
The incoming changes to IR35 are being used to pay for the “generous” tax cuts in today’s budget, according to Smith & Williamson’s employment tax and incentives partner, David Yewdall. “I think a...
View ArticleFRC looks to extend rent concessions for retailers
With many retailers still reeling from the impact of the lockdowns, the Financial Reporting Council (FRC) has proposed extending the application period of requirements that cover the accounting...
View ArticleEconomic crime levy: Relief for SMEs
In the wake of the Budget 2020, the government announced the launch of an economic crime levy (anti-money laundering levy) on businesses, to raise £100m per year to fund ambitious reforms as part of...
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