Pillars One and Two are OECD’s response for a need to address international tax reform for digital economies across the globe.
Features and articles
Michelle Robinson of Deloitte examines HMRC’s guidance for businesses that undertake transactions involving exchange tokens, including the scope of HMRC’s guidance, its approach to taxation of cryptoassets, company taxation, venture capital schemes and VAT, among other things.
Our regular round up of legal and regulatory changes
Following FCA guidance, firms must tread carefully when dealing in crypto-assets, says Suchitra Nair
Helpsheets and guidance
This guidance gives an introduction to crypto-assets for accountants, and how members may encounter clients with these assets. The guidance then outlines the Money Laundering risks that could be associated with clients who hold crypto-assets, and the issues that members will need to consider in their risk assessments.
How do you account for cryptocurrencies? What tax is payable on crypto-transactions? What is the difference between a cryptoasset and a cryptocurrency? What is an ICO? This tech essentials publication provides guidance to help answer some of those questions.
This international research report, in partnership with the Institute of Singapore Chartered Accountants (ISCA), explores the strengths and challenges for Singapore and London as fintech hubs, and identifies the key elements that underpin successful fintech innovation.
HM Treasury has revised MLR17 to take account of the changes required by 5MLD. The new legislation is effective from 10 January 2020.
Finance in a Digital World
ICAEW is collaborating with Deloitte to ensure its members and students have the knowledge and skills to take advantage of the opportunities offered by the fourth industrial revolution and to meet its challenges head on. Log-in to access exclusive content, including: eLearning, webinars and bite-sized summaries on individual technologies and the broader impact of digital technologies on finance.
This blog was first posted by Eddy James in January 2017 on the Financial Reporting Faculty’s blog. A few years ago there was a lot of talk about Bitcoin, the fledging cryptocurrency that was threatening to take the world by storm. So much so that we included a bluffer’s guide to it in the Financial Reporting Faculty’s journal, By All Accounts, back in July 2014.
The Bitcoin era has provided both confusion and excitement amongst accountants. As the original cryptocurrency, the value has skyrocketed since its arrival and by its very nature is presenting challenges for accountants, lawyers, tax experts and investors, says CASSL co-chair April Warrier.
Webinars and recordings
Join Mark Taylor and David Lyford-Smith of ICAEW, and Aynsley Damery of the Clarity Project, for the second in our series of IT Faculty ‘Tech Talks’, this time on the subject of blockchain, cryptocurrencies, and how these will affect the future of the accountancy profession.
Chapter 9 of the Fintech book looks at digital currencies and the various applications of the blockchain including what comes next and alternative applications of the blockchain technology to financial services.