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.HMRC accepts that no taxable benefit arises where an employer reimburses their employee for the cost of charging a company-owned, wholly electric car that is available for private use.
Tax checks are needed before renewing certain licences on or after 2 October 2023. In Scotland this applies to licences to drive taxis and private hire cars, operate a booking office and to be a metal dealer. In Northern Ireland this applies to licences to drive taxis.
Highlights from the broader tax news for the week ending 27 September 2023, including: student loan deductions and payrolled benefits; enhancements to HMRC’s use of open banking; and changes to probate phone lines.
Generative AI presents many opportunities, but also challenges for accountants. ICAEW’s Head of Tech Policy, Esther Mallowah, provides some views on how accountants should approach generative AI and why ICAEW developed its generative AI guide.
Companies are tightening their belts as cost pressures increase but business retains optimism for the near future.
How should we strategically position our businesses in the face of climate change? That’s the essential question at the heart of climate scenario analysis.
Meaningful tax simplification requires a clear plan, focused resource, accountability, and investment, say the professional bodies.
Focus must shift to prevention, PAC warns, after the body responsible for overseeing government expenditure calls for action to tackle currently untracked fraud and error losses of potentially tens of billions of pounds a year.
Low levels of cyber expertise among board members and an overt deference towards jargon-focused CISOs cited as key vulnerabilities in corporate governance.
Businesses registered for VAT at a high-volume address will be asked by HMRC to prove they are established in the UK.