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News: July - September 2012

September 2012

 Poor reporting among FTSE 350, says PwC

 Millions of businesses to receive HMRC RTI letters

 HMRC to move data storage to the cloud

 HMRC invites small firms to sign up for email help

 EC refers UK to ECJ over cross-border loss relief

 IIRC extends integrated reporting pilot programme

 BBA agrees to be stripped of role in setting Libor

 UK taxpayers subsidise buy-to-let landlords £2bn a year

 HMRC targets doorstep sellers in latest amnesty

 Olympus chief admits guilt for accounting scandal

 SMEs trust accountants more than bank managers

 New HMRC postal addresses

 Improvements to Money Laundering Regulations (MLR) forms

 Hartnett in firing line at Oxford conference

 HMRC Factsheet - CC/FS20 VAT and old penalty rules

 Microsoft and HP hit back over tax dodge claims

 Prince appears to blow raspberry beret at French tax authorities

 Serious tax evasion cases fall by 23%

 ICAEW warns against risks over proposed FRC changes

 Portugal Telecom SGPS SA v Fazenda Pública, Ministério Público intervening Case C49611

 Changes to the VAT Refund Scheme for museums and galleries

 Corporation tax down as UK borrowing rockets 25% over target

 Online beer tax petition milestone toasted by industry

 DI VI Finanziaria di Diego della Valle & C SapA v Administration des contributions en matière d’impôts Case C38011

 RSM Tenon in talks to sell IVA unit

 ICAEW forecasts sluggish growth in 2013

 London office move hits Big Four partner profits

 Investors make 11th hour plea for audit reform

 FTSE 100 boards improve diversity figures

 Tax-dodging lawyers to be targeted by HMRC

 HMRC to target agents, consultants, representatives and distributors

 Tóth v Nemzeti Adó- és Vámhivatal Észak-magyarországi Regionális Adó Főigazgatósága (Case C-324/11)

 European Commission v Portugal (Case C-38/10)

 Views sought on Big Four audit domination investigation

 Auditing Developments - September 2012

 UK-US agreement strengthens UK ability to implement FATCA

 HMRC scores own goal in second leg of VAT battle

 IIRC’s Integrated Reporting draft to bloom in Spring 2013

 Ex-UBS trader's £1.4bn fraud trial starts

 BIS to legislate on narrative reporting

 Tory peer calls for abolition of CGT

 Statutory residence test progress ‘on track’, but more to do say CIOT

 HMRC investigation into £3m VAT fraud leads to four arrests

 Parliamentary Commission on Banking Standards to scrutinise draft Banking Reform Bill

 Investors call for more insight on ‘aggressive’ accounting

 Accounting Council opts for Exposure Draft on DB pension plans

 Tax limits reduce FTSE 250 pensions by 20%

 Guernsey’s zero-10 CT regime approved by EU

 ECJ considers whether DB schemes should pay VAT on management services

 Thorny TOMS issue to be thrashed out with HMRC

 HMRC £500 million in extra tax

 Ex-UBS banker nets $104m in whistle-blowing pay-out

 Consultation on VAT: exemption of higher education provided by for-profit providers

 Autumn Statement 2012

 FRC ‘broadly supports’ IFRIC interpretations on put options

 Barclays may slash its controversy-mired tax unit

 SI 2012/2298 - The Money Laundering (Amendment) Regulations 2012

 PAYE for employers: Special notice about electronic PAYE payment dates

 BIS reduces audit requirements for smaller businesses

 PwC slams politicians’ calls for tax on wealthy

 New tax measure to stimulate investment in North Sea

 Hargreaves Lansdown boss says just two FTSE100 co’s not dodging tax

 HMRC toolkits to help minimise common errors

 European Commission consultation on benchmarks and market indices launched following LIBOR manipulation

 Reduction in inheritance tax rate

 Osborne contradicts Barclays over £500m tax clawback

 IRS streamlines OVDR programme for US taxpayers with foreign accounts

 Customs Information Paper (12) 42

 Chancellor extends north east enterprise zone

 HMRC Brief 27/2012 - VAT: Addressing borderline anomalies - guidance

 CIFs could raise £300m and create 1,500 new UK jobs, says BIA

 July/August 2012 IFRS for SMEs Update published

 FD’s urged to prepare for IAS19’s impact

 VAT Notes 03/12

 Qualifying Recognised Overseas Pension Schemes (QROPS)

 Deadline looms for higher rate SA taxpayers

August 2012

 Direction under reg 67CA of the Income Tax (Pay As You Earn) Regulations 2003

 Banking Sector PAYE and corporate tax receipts publication released )

 CBI drops growth forecast to reflect economic conditions

 VAT Information Sheet 08/12 - Change to the Spanish VAT rate from 1 September 2012

 Coalition split over Clegg bid for rich to pay more tax

 Film Industry Guidance Notes 2012 Edition

 HK regulator takes Ernst & Young to court for work papers

 HMRC'S position following the Upper Tribunal decision in the case of The Bridport and West Dorset Golf Club Limited

 Reduced rate inheritance tax - new manual guidance

 Campaign to end APD soars past 100,000 mark

 Treasury ponders introduction of tax-free 'mini-jobs'

 Complex pensions system leaves some women on £7 a week

 Corporation Tax: changes to the way some companies contact HMRC by phone

July 2012

 Corporation Tax on chargeable gains 

 Barclays in tax avoidance row allegations

 How to implement your Company in Spain