Latest News

New IAB events announced

Further events have been arranged for 2018 covering a range of highly topical areas including the General Data Protection Regulation (GDPR) and Making Tax Digital. Please find more information about the events below: An Introduction to GDPR Date: Tuesday 27th March Time: 12 – 1:30pm Venue: Lancaster Room, Building 80, Churchill Square, Kings Hill, West Malling, Kent, ME19 4YU. The IAB

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The Crown could seize company assets worth millions

Thousands of private British companies who have failed to file their statutory financial statements with Companies House could see their assets claimed by the Crown, says accounting, tax and advisory practice Blick Rothenberg. Simon Rothenberg, a manager in the firm’s business group, said: “It appears that many firms that should have filed their accounts in September last year failed to

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Thousands of scam texts halted

HMRC says it has stopped thousands of taxpayers receiving scam text messages. The revenue says 90% of the most convincing texts are now halted before they reach our phones (that still leaves 10%!). HMRC began a pilot in April 2017 to combat these messages. Its new technology identifies fraud texts with ‘tags’ that suggest it’s from HMRC and stops them

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Insolvencies on the rise

The number of people who became insolvent jumped by 9.4% in 2017. In all, just under 100,00 (99,196) individuals were declared insolvent in England and Wales, up from 90,657 in 2016. The number of Individual Voluntary Arrangements (IVAs) rose to a record level of 59,220 – up 20% year-on-year. IVAs mean you avoid full-blown bankruptcy and protect an individual’s assets.

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‘Flesh and blood’ wins over computer

A judge has warned HMRC that a tax official rather than a computer program should make assessments for any fines. The surprise judgement comes in the case of Khan Properties Limited, and there is real concern that this ruling could lead to a surge in successful appeals, costing the public purse millions of pounds in lost revenue. Khan Properties appealed

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SFEDI and IOEE’s Celebrating Enterprise 2018 – Award nominations are now open!

SFEDI and IOEE are delighted to announce that the Celebrating Enterprise Awards 2018 nominations are officially open! The awards ceremony will be held in the Houses of Parliament, Westminster, on Wednesday 2 May 2018, bringing together key figures from the small business, enterprise and skills sector in the UK to celebrate and recognise the very best in enterprise learning and skills. With eight

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Bus company and boss left with bill of more than £60k for deliberately failing to give their staff workplace pensions

A bus company and its managing director will have to pay more than £60,000 after they admitted trying to deliberately avoid giving their staff workplace pensions. In November, Stotts Tours (Oldham) and Alan Stott pleaded guilty to a total of 16 offences of wilfully failing to comply with the law on workplace pensions – the first such prosecution by The

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TPR fines trustee of NOW: Pensions and sets deadline by which problems must be fixed

The Pensions Regulator (TPR) has given the trustee and trust manager of NOW: Pensions a deadline to fix long-running issues with the pension scheme. TPR has required the master trust to act to resolve persistent administrative failings, over a number of years, which have led to some scheme members’ savings not being collected from employers and invested. TPR has fined

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HMRC Talking Points sessions – January and February 2018

HMRC’s regular Talking Points meetings provide ongoing information, guidance and tips, helping you to understand tax issues. Please find further details of future scheduled online meetings below: Basis periods – looking at commencement years, changes to accounting date and overlapping periods: Focusing on basis periods, in particular, looking at the different rules that apply to commencement years, changing of accounting date

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