Late payments basis period reform and football finance

Liz Barclay, the government’s new Small Business Commissioner, outlines what her organisation is doing to tackle the scourge of late payments and explains how the pandemic has shifted the payment practices of many companies - some for better and some for worse.

ICAEW Tax Faculty’s Lindsey Wicks outlines the government’s proposed reforms to basis periods and explains the potentially huge ramifications of these changes.

Football finance expert and chartered accountant Kieran Maguire gives us the story behind the hit podcast ‘The Price of Football’, which he hosts with comedian Kevin Day.

And ICAEW’s Katharine Bagshaw explains why the IAASB thinks we need an audit standard for less complex entities.

Links to resources discussed in the show

• Getting paid sooner: the vital role of accountants
• Contact the Office of the Small Business Commissioner
• TAFR gets real with consultation on basis period reform
• Basis period reform – feedback needed
• Speed of basis period reform risks integrity of tax system, warn professional bodies
• Digital marketplaces to report sellers’ incomes to HMRC as early as 2023
• Football clubs should target accountants this transfer window
• An Evening with Kieran Maguire
• The Price of Football podcast
• Less complex entities: ICAEW salutes IAASB’s initiative

Host

Tom Herbert, online editor ICAEW Insights, We Are Sunday

Guests

• Katharine Bagshaw, Manager, Auditing Standards, ICAEW
• Kieran Maguire, Football Finance Lecturer, University of Liverpool and co-founder, Price of Football podcast
• Lindsey Wicks, Technical Editor, ICAEW Tax Faculty
• Liz Barclay, Small Business Commissioner

Producer

Natalie Chisholm

Episode published: 26 August 2021
Podcast recorded: 24 and 25 August 2021