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.
Catherine Bradley has been appointed to the Financial Conduct Authority (FCA) as a Non-Executive Director.
Amyas Morse, the Comptroller and Auditor General, head of the National Audit Office, has issued a report on the 2013-14 accounts of HM Revenue & Customs. The report describes how HMRC deploys its compliance resources and measures and reports the impact of its compliance work. It also covers HMRC’s progress in operating the PAYE service and its implementation of its new Real Time Information service and its performance in tax collection and in reducing error and fraud in personal tax credits.
Hong Kong’s official foreign currency reserve assets grew by US$700 million to US$320.9 billion in June, the Hong Kong Monetary Authority have announced.
The Financial Reporting Council (FRC) have announced the closure of the investigation into the conduct of Christopher Moore, a former Member of the ACCA and former executive of Torex Retail plc (Torex).
HMRC have released a Tax Information and Impact Note explaining a change to UK VAT law for businesses who believe they are unable to submit their VAT returns online.