The number of businesses that have signed up to MTD for VAT passed the 1m milestone by 7 August, ICAEW Tax Faculty reports, but 120,000 missed the deadline, amid claims of direct debit failures and incorrect VAT return obligation periods.
Tax and financial reporting
News from the London Accountant magazine, the official publication of the London and Croydon Societies of Chartered Accountants.
Popular with cyclists and employers in the capital, hire agreement changes will allow tax breaks for cycle to work schemes over £1,000 without the need to be FCA registered.
Update proposals include guidance for service auditors, as well as more practical examples on control objectives and reporting, to ensure they can be used by a broader range of accountancy firms.
A London Tax Discussion Group recently considered the separation of a Muslim couple, who entered a Sharia marriage, that raises important questions over tax exemptions for married couples.
As figures show Londoners pay the most inheritance tax in the country, the latest proposals from the Office of Tax Simplification should make interesting, even controversial reading.
Reviewing the International Audit & Assurance Standards Board’s proposals for less complex entities, former LSCA President Malcolm Bacchus welcomes attempts to tackle the one-size-fits-all approach.
Companies House reveals companies in the capital are the worst, by a very long way, at filing at their returns on time.
This month, the Croydon and South East London Tax Discussion Groups considered the tax position of a family business lending money to a close property company.
Now is the time to look ahead towards the end of the year and book yourself on to some of 2019’s essential line up of CPD training courses, tailored for LSCA members.
A new guide designed to help smaller listed and AIM quoted companies improve their financial reporting has been published by ICAEW and the Financial Reporting Council.