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Latest ICAEW Insights and accountancy news for June 2021

All the latest news about ICAEW and the accountancy profession.

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EU sets out to reform insurance and reinsurance sector


The European Commission has come forward with some key changes to the regime for insurers and reinsurers, addressing capital requirements and requiring more attention to climate change in risk management.

Chart of the week: German federal budget 2022


As Germany heads to the polls this weekend to elect a new federal parliament, the topic of the public finances has moved to centre stage. Our chart this week looks at the federal budget for 2022 and the current plan to sharply reduce the deficit from 2023 onwards.

MTD ITSA and basis period reform postponed


Government and HMRC have listened to representations and put back the implementation of MTD ITSA and potential reforms to basis periods. The new MTD ITSA start date of April 2024 for the self-employed and landlords has now been set in legislation, providing the certainty that has been lacking, says ICAEW.

COVID support schemes coming to an end


On 30 September a range of government support packages to help businesses and individuals through the coronavirus pandemic will come to an end or change, including the furlough scheme and reduced SDLT rates in England. ICAEW insights provides a reminder of the changes.

Tax news in brief


Highlights from the broader tax news week ending 22 September, which includes: upcoming deadlines for final claims for SEISS grants and for bulk appeals of late-filing penalties, as well as additional HMRC support on reporting coronavirus support grants on CT600s.

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