June 2019

Bank Governor’s warning ‘should be wake-up call’
Bank of England boss Mark Carney has warned that up to 150,000 businesses are not properly prepared for a no-deal Brexit, a warning that should act as a wake-up call, warns RSM. Commenting on the Governor’s comments, Brad Ashton, international trade partner at RSM said: “The Governor is right to sound the alarm over the lack of business preparedness for
Read moreOne in nine UK adults victim of fraud in past year
A new survey of more than 2,000 UK adults, commissioned by Studio Graphene, has revealed the number of people who have fallen victim to fraud and hacking in the past year, as well as the level of caution they exercise when sharing personal data. The research found: 12% of UK adults have been the victim of fraud in the past
Read moreRelief available for those struggling to find accessible software for new tax rules
Those who cannot find suitably accessible software to comply with the new Making Tax Digital for VAT rules should apply to HMRC for a temporary exemption, says the Low Incomes Tax Reform Group (LITRG). HMRC are not providing in-house software for Making Tax Digital for VAT. Instead, they are working with the software industry to bring products to market for
Read moreSalary survey: what could you be worth?
Pay in the finance sector jumped by 2.8% year-on-year, according to the latest figures from CV-Library. It has worked out the current average salary for certain positions in the profession, including: Payroll Manager – £40,804 Finance Director – £72,247 Financial Controller – £51,188 Finance Business partner – £48,397 Credit Analyst – £48,039 Auditor – £47,716 Finance Manager -£42,387 Management Accountant
Read moreTalking Points: getting you up to speed
HMRC’s regular Talking Points provide ongoing information, guidance and tips to help you to understand tax issues. Here’s a selection of some of the Talking Points webinars coming up. There are a limited number of spaces, so you are advised to book your place early. PAYE Expenses & Benefits (P11D): This webinar has been designed to provide examples of the most
Read moreMaking Tax Digital for Government Information and NHS Trust service users
A small proportion of businesses within the scope of Making Tax Digital (MTD) for VAT previously received a short deferral of mandation. This was due to the complexity of their requirements and the need to ensure there was time to test the service with them before they were required to join. HMRC’s initial intention was that all these businesses would
Read moreHMRC Talking Points
HMRC’s regular Talking Points webinars provide information, guidance and tips to help you understand tax issues. Forthcoming ones include: PAYE Expenses & Benefits (P11D): This webinar has been designed to provide examples of the most common entries on the end-of-year expenses and benefits return. HMRC subject matter experts will be online during the webinar to take your questions. Thursday 20 June
Read moreSend in the clouds
Well over half (58%) of the UK’s SMEs have admitted they do not use cloud-based computing, according to new research by Close Brothers. That does, of course, mean 42% are! The reasons given for not using the cloud for business vary. Of those not using the technology, over a third (36%) do not trust that it is secure enough. A
Read moreHMRC to increase VAT on solar panels
The government is to increase the VAT rate for solar panels from 5% to 20%, the Independent newspaper has reported, describing it as a “a huge hike considering that Parliament has recently declared an environment and climate change emergency”. Other materials for renewable energy and battery storage products will also be subjected to the same VAT hike. Fossil fuels including
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