31 January 2020: the final regulations for applying the EU directive commonly known as DAC 6 have been published. While HMRC amendments have been welcomed, there are still concerns about the level of reporting obligations and the lack of official guidance.
Viewpoints on the news during January 2020
Opinions and news analysis, covering the worlds of business and accountancy.
31 January 2020: Rosalia Wood, ICAEW’s Manager for Regional Industrial Strategy, considers what regional economies might look like in post-Brexit Britain.
31 January 2020: with Britain set to exit the EU, we speak to Despina Andreadou, Group Chief Audit Executive at Eurobank SA, about the future of finance in Europe without the UK.
31 January 2020: ICAEW’s checklist sets out things businesses should prepare for during the 11-month transition period following the UK’s exit from the European Union today.
31 January 2020: environmental risks occupy all five of the top spots for likelihood in the latest ‘Global Risks Report’ from the World Economic Forum. “Climate change is striking harder and more rapidly than many expected,” the report warns.
31 January 2020: with the UK formally leaving the EU today, the ICAEW has called for a free trade agreement with the EU that maximises market access, safeguards the accountancy profession and avoids unnecessary bureaucracy.
29 January 2020: changes to reporting and paying tax on residential property sales by UK residents are coming into effect this year. Practitioners and taxpayers should be aware of the new regime for the residential sector.
29 January 2020: a former Lord Mayor of London, a small business guru and a 92-year-old fundraiser for the Royal National Lifeboat Institution (RNLI) are among 11 ICAEW members who received awards in the New Year’s Honours.
28 January 2020: the gender pay gap is increasingly well explored by companies, and reporting is becoming more sophisticated and clearer. However, improvements to the pay gap can be quickly undermined by another gap – the gender pension gap. Philippa Kelly, Head of Financial Services at ICAEW, considers new research and identifies key factors causing the gender pension gap and why things need to change.
28 January 2020: the rules introducing the new European Single Electronic Format (ESEF) are now in force and annual reports of EU listed companies should be prepared under the new regime.
28 January 2020: More Than a Number has been nominated for the Best Strategic Communications or Corporate Brand Campaign Award in the PRCA City and Financial 2020 Awards. Judged by some of the biggest names from the worlds of City leadership, communications and journalism, the City and Financial Awards recognises leading-edge PR and communications work.
27 January 2020: the Charities SORP-making body is inviting applications from individuals or organisations interested in or knowledgeable about charity financial reporting to participate in the next Charities SORP-making process.
24 January 2020: stakeholders need reliable and consistent information. Financial information is not enough and the plethora of non-financial information reporting initiatives is breeding confusion. That is why Accountancy Europe is calling for interconnected standard setting.
24 January 2020: the PRA has set out the practical improvements the regulator wants to see from the general insurance industry in its letter to chief executives of general insurance firms regulated by the PRA. Some topics are more familiar than others, says ICAEW’s Financial Services Faculty; but, interestingly for a prudential regulator, there is a firm emphasis on culture.
23 January 2020: the idea of a government stepping in to provide assistance to cash-strapped companies with significant regional importance has been much debated following the recent Flybe intervention. While such a policy shift should be welcomed, a clear framework and strong legislation is crucial to any new strategy’s success, explains ICAEW Director for Business and Industrial Strategy Iain Wright.
22 January 2020: members working for banks and lenders in the car finance market need to be aware of its changing face and associated risks. These include the likely growth of consumer redress should there be a financial downturn.
22 January 2020: it’s the battle of the banks – big players vs all-digital challenger banks. We look at how neobanks like Monzo and Starling are tackling the big players and question who’s got what it takes to win the war for new customers.
22 January 2020: once the UK finally leaves the EU, businesses of all kinds will experience economic costs and opportunities. Will one of the costs be an increased risk of fraud? We asked two experts for their views.
22 January 2020: ICAEW has released a list of the top 40 online accountancy influencers – individuals tweeting about and discussing accountancy related topics.
21 January 2020: as bookings for private jet charter soar in the build-up to Davos, many will ask: “What was the hype all about?” Here are five reasons our CEO, Michael Izza, attends the World Economic Forum’s (WEF’s) Annual Meeting each year (and not on a private jet).