Now that Making Tax Digital (MTD) for VAT is in effect, it’s easier to reflect on HMRC’s digitalisation initiative with clarity.
Where before certain parts of the legislation initially appeared unclear, today we’re able to identify the exact responsibilities of both clients and accountants. Whether that’s knowing how to move your accounts online or selecting bridging software to ensure compliance, all parties now have the resources to stay on the right side of the taxman come tax return deadlines.
The US Financial Accounting Standards Board (FASB) has released the proposed 2015 GAAP Financial Reporting Taxonomy for public review and comment. The deadline to submit written comments is 31 October 2014.
Member economies of the Asia-Pacific Economic Cooperation are working on a blueprint that seeks to boost regional interconnectivity and other trade facilitation measures, a top Chinese official who participated in the meetings said on Thursday.
A former director at China's economic planning agency who oversaw corporate bond issues between 2003-2006 is being investigated, the country's top prosecutor said on Friday, the latest official to be implicated in an anti-corruption drive.
The FRC has today issued revised editions of FRS 101 Reduced Disclosure Framework and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland incorporating amendments already published to date.
From Friday 22 August HMRC started to send letters to employers who are disputing a PAYE charge with them. Although there have been relatively few disputed charges, HMRC wanted to review the root causes thoroughly and improve their systems wherever possible. It is clear from that review that while there are a number of different reasons for disputed charges, the main cause is duplicate employments.