3 July 2020: ICAEW's Public Sector Community has established a new Public Sector Advisory Group (PSAG), which held its first meeting.
Latest ICAEW Insights and accountancy news for June 2020
All the latest news about ICAEW and the accountancy profession.Don't miss out on our daily summary of what's happening in the world of accountancy. If you are a member you can change your contact preferences so it is delivered daily to your mailbox.
30 June: HMRC’s latest employer bulletin contains several reminders to stop firms falling behind with standard obligations during the coronavirus pandemic, such as suffixing “2013” to the reference when paying 2019/20 Class 1A NIC.
30 June: HMRC’s updated guidance highlights areas where corporate non-resident landlords (NRLs) need to take care around the transfer or disposal of property and the use of losses, highlights ICAEW.
30 June: Employers will be able to make claims for grants under the flexible furlough scheme (CJRS V2) from 1 July 2020. ICAEW’s Tax Faculty highlights key points and updates its guidance.
30 June: The day before flexible furloughing is introduced to the CJRS, HMRC has confirmed to ICAEW how usual hours should be calculated. The answer is not the logical one, but it aligns with the published guidance.
ICAEW member Alexis Nicolaou says blockchain is forcing accountants to evolve, get clued up and jump on board with the fourth industrial revolution.
Updated 6 July: Legislation introducing HMRC’s powers in relation to coronavirus support payments has been tabled and following representations by ICAEW, businesses will have 90 days to notify HMRC of a grant that needs repayment.
30 June 2020: Kate Mathers, an executive director of the National Audit Office, talks to Maria Byrnes from ICAEW about the impact the COVID-19 crisis is having on the National Audit Office and how it has shaped their work.
30 June 2020: The Corporate Insolvency and Governance Act 2020 received Royal Assent on Friday (26 June). Both the permanent and temporary measures could be a valuable lifeline as the downturn continues.
30 June 2020: With her love of retail, accountancy experience and her own retail store RSM’s Jacqui Baker has valuable lessons to share for retailers looking to the future.
29 June: The government has tabled a further series of amendments to the Finance Bill 2020 ahead of its report stage this week. ICAEW’s Tax Faculty provides a summary of the changes and urges further amendments to the clause modifying the statutory residence test in light of COVID-19.
29 June 2020: HMRC has confirmed its position on top slicing relief on life insurance policy chargeable event gains for 2019/20, but the position for earlier years remains uncertain.