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.To mark National Apprenticeship Week, ICAEW explores how the financial benefits of apprenticeships have been a big driver in their adoption, but talent-hungry businesses can use them as an effective way to address skills shortages.
ICAEW urges those planning to claim the UK state pension to check their national insurance (NI) record before 5 April 2023. Currently, voluntary contributions can be made to plug gaps back to April 2006, but this will be curtailed from April. The Tax Faculty has created a checklist of actions.
Highlights from the broader tax news for the week ending 8 February 2023
COVID-19 caused significant delays to government accounts production. With interest in public spending increasing, Lewis Knights and Rachel Farnsworth from the NAO’s Financial Audit Operations team explain how the NAO is working to get back on track.
After seasonal adjustment, the number of individual insolvencies began to rise as Q4 2022 was 6% higher than Q3 2022, and 7% higher than in Q4 2021. But the worst is yet to come, warns RSM.
Following the Monetary Policy Committee decision to increase the Bank of England base rate to 4%, HMRC has announced increases to both interest charged on late paid tax and the rate paid on repayments of tax.
The requirement for a business to include a statement within an invoice to show that plastic packaging tax has been paid will no longer be introduced.
ICAEW’s Tax Faculty is joining with other professional bodies to gather feedback on HMRC’s performance against standards in the HMRC Charter. Members are encouraged to complete a survey by the end of February.
According to HMRC figures, more than 11.7m taxpayers filed their tax returns before the 31 January 2023 deadline. However, 600,000 taxpayers still missed the deadline.
HMRC’s report covers the impact and effectiveness of HMRC’s latest information power and highlights two potential uses not envisaged during the consultation.
With more and more people dipping their toe into the world of crypto, accountants increasingly need to become experts in crypto tax compliance and financial planning. Daniel Howitt looks at how.
The Bank of England announces 10th successive increase in borrowing costs – but forecasts that the expected UK recession will be shallower and shorter than previously expected.
Our chart this week is on the global economy and how the UK is at the bottom of the IMF’s league table for economic growth in 2023 and 2024.
With one in five people pledging to pursue career goals and ambitions in their New Year Resolutions, we’ve asked career experts for their advice on achieving these in 2023.
Agency responsible for Test and Trace criticised by NAO for “lack of adequate governance, oversight and control” exposing it to a “high level of risk”.