21 January 2021: The National Audit Office (NAO) says additional funding provided in the November 2020 Spending Review will still not be enough to plug shortfalls in the 10-year Defence Equipment Plan.
Latest ICAEW Insights and accountancy news for January 2021
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21 January 2021: Who prepares financial statements? And what does an auditor do that is different? To members, the answers might be obvious, but the distinction is often lost in the wider world.
21 January 2021: In the summer of 2020, ICAEW’s board approved a roadmap for the organisation to go carbon neutral and by autumn became the first major professional body to declare carbon neutrality. But what does it take to get a board on board with action on climate change?
Highlights from the broader tax news week ending 20 January, which includes: HMRC to amend CJRS guidance over annual pay, updates to ICAEW's support on options for self-assessment deadlines, HMRC webinar to help avoid pension scams, and potential VAT implications for Gibraltar post-Brexit.
20 January: UK businesses that have supplied eligible digital and telecommunication services into the EU since 1 January 2021 have three weeks to apply for the non-union VAT mini one stop shop. ICAEW’s Tax Faculty provides an overview.
19 January 2021: Employers under threat of violence or intimidation as a result of having their names published as a recipient of Coronavirus Job Retention Scheme grants, must apply to be removed from the list before its publication on 26 January.
20 January 2021: Hannah Keartland, honorary treasurer at Social Tech Trust, outlines how an entrepreneurial mindset and collaboration with partners have been key to the organisation’s transformation as an independent charity.
20 January 2021: Signatories to the UK government’s Prompt Payment Code must pay small businesses within 30 days as part of a raft of measures taken to tackle the ongoing issue of late payments
19 January 2021: HMRC has rejected calls to reconsider automatically waiving late-filing penalties for self assessment tax returns due on 31 January, but confirmed that deadlines missed due to COVID-19 should not result in having to pay a penalty provided an appeal is made.
19 January: Given the impact of the coronavirus pandemic and the UK’s departure from the EU, Spring Budget 2021 should focus on delivering existing plans and COVID support packages, not announcing short term changes to the tax system, according to ICAEW’s Tax Faculty.