PAYE reforms slammed by finance professionals

Fri, 30/07/2010 - 16:14

The government has put forward ideas for an overhaul of the PAYE system, but finance professionals fear the changes could do more harm than good.
 

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Pensions tax relief: Will simple work?

Fri, 30/07/2010 - 09:55

Perhaps one day it will come to be seen as the last gasp of the UK’s outmoded and overly complex approach to tax law, but conoisseurs will be keeping their eyes open for clauses in the Finance Bill 2011 repealing provisions in the Finance Act 2010 (April) to restrict tax relief on pensions, before they actually come into effect.

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How to create client preference

Fri, 30/07/2010 - 08:43

Robert H Bloom outlines the four decisive customer moments and how firms can ensure they retain client loyalty at these points.

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The big management reporting challenge: KPIs

Fri, 30/07/2010 - 08:32

In the first of our series of challenges, we're inviting members to pit their wits against each other to solve a selection of puzzles and case studies for a chance to win a bottle of wine.

The following case study comes from the Chartered Institute of Management Accountants (CIMA). Read through the text below and then post your answers to the questions that follow as comments below. We'll post the answers back on this thread next week and the member judged to have given the best answer will win a bottle of wine.

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Business problem solving: Mediation

Fri, 30/07/2010 - 08:19

Marjorie Hurwitz Bremner outlines the merits of mediation in solving commercial and employment disputes.

What is mediation?
The Centre for Effective Dispute Resolution (CEDR) defines mediation as “a flexible process conducted confidentially in which a neutral person actively assists parties in working towards a negotiated agreement of a dispute or difference, with the parties in ultimate control of the decision to settle and the terms of resolution”.

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Profile: Sudipta Moore

Fri, 30/07/2010 - 08:09

Name of firm: Moore Accountancy
Location: Altrincham, Cheshire
Established: I got my practicing certificate in April 2010
Staff employed: None
Working from: Home

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Ofcom targets broadband speed claims

Thu, 29/07/2010 - 17:12

The communications watchdog Ofcom this week warned of as “a growing gap between the actual speeds delivered and the speeds that some ISPs use to advertise their services”.

The regulator’s research into broadband speeds during May found that the national average had increased 25% from 4.1Mbit/s to 5.2Mbit/s. But the actual speeds achieved tended to be lower than those advertised, noted Ofcom chief executive Ed Richards, who put forward a new industry code to ensure consumers were given accurate information when they signed up for a broadband service.

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Let's consult! HMRC's summer feedback pack

Thu, 29/07/2010 - 15:26

In a consultative frenzy, HMRC this week issued eight separate documents setting out its proposals for new rules and reforms ranging from PAYE to pensions tax, furnished holiday lettings rules, controlled foreign company rules and travel & subsistence payments under the national minimum wage.

Many of the consultations pick up loose ends from Labour’s March Budget, or put forward new ideas such as PAYE reform and simplifying associated company rules around the small profits rate of corporation tax that were mooted in the coalition government’s June Budget.

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Tax tips for the Office of Tax Simplification

Thu, 29/07/2010 - 11:49

Simon Sweetman outlines the concerns around income tax and corporation tax which need to be addressed by the new Office of Tax Simplification.

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Businesses face insolvency over tax debts

Thu, 29/07/2010 - 09:59

HMRC’s ‘Time to Pay’ rules could push some businesses into insolvency, experts have warned.

As the 31 July deadline for paying national insurance contributions looms large, HMRC’s policy on allowing extended time to pay under the Business Payment Support Service (BPSS) may push taxpayers towards less conventional sources of funds to pay the tax due.

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Lung transplant accountant scoops six medals in European Games

Thu, 29/07/2010 - 07:04

Northamptonshire based chartered accountant recovers from double lung transplant to win big for Britain at the European Heart and Lung Transplant Games in Sweden.

In 2007, chartered accountant Nick Condon (34) was told he had just 18 months left to live, requiring four 40 minute physiotherapy sessions every day and sleeping on a ventilator with the help of multiple nebulizers.

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LDF tax amnesty criticisms are ‘balderdash’

Wed, 28/07/2010 - 16:31

HMRC hits back at claims of ‘disappointing’ response to Liechtenstein Disclosure Opportunity.

Claims that the Liechtenstein Disclosure Facility (LDF) has been a failure are ‘balderdash’, said a HMRC spokesperson today.

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Dissidents call for ‘rethink’ on IFRS

Wed, 28/07/2010 - 14:47

Eight politicians, financiers and accountants this week published a letter in The Times calling for the government to repeal the UK’s commitment to International Financial Reporting Standards (IFRS).

The accounting dissidents include Bournemouth university accounting professor Stella Fearnley, Tory MP and Future of Banking Commission David Davis MP, accountant and technical trainer Emile Woolf and financial analyst Timothy Bush, a member of the Accounting Standards Board’s Urgent Issues Task Force.

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Dascom rolls out SAP Business ByDesign

Wed, 28/07/2010 - 08:53

SAP’s web-based Business ByDesign software application has had a torrid development history. Once touted as the brave new hope that would deliver 100,000 new customers by 2010, it took somewhat longer to bring to market than anticipated. At this point in mid-2010, it has probably achieved one thousandth of its original target.

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Top ten regulatory review complaints

Wed, 28/07/2010 - 08:00

Steve Collings outlines the most common weaknesses picked up during file reviews for both audit and non-audit assignments.

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Gadget review: Toshiba JournE Touch

Tue, 27/07/2010 - 17:03

At last year's IFA trade fair, I got the opportunity to play with the prototype of a radical new 7in touchscreen tablet from Toshiba, the JournE Touch.

"We believe these kinds of products will be the fastest selling kind in consumer electronics," said Toshiba Europe's general manager Thomas Teckentrup at the time. Well, he was right, but Toshiba has subsequently been trumped by Apple's 3m-selling iPad tablet.

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The secrets of a successful extranet

Tue, 27/07/2010 - 15:21

The first article in this series, Using an extranet with your clients looked at how an extranet can add value to a relationship, and some of the associated issues.   In this second article Stephen Bynghall explains what is needed to make a specific site succeed, and how the digital workplace may evolve.

Why sites sometimes fail

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FSA fines Northern Rock FD £320,000

Tue, 27/07/2010 - 14:48

David Jones, the former finance director of Northern Rock has been fined £320,000 and banned from working for a regulated entity by the Financial Services Authority (FSA).

In a press statement the FSA alleged that for more than a year Jones misreported mortgage arrears and repossession figures to the failed bank’s assests & liabilities committee.

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Scottish parliament to receive new tax powers

Tue, 27/07/2010 - 14:21

The Scottish parliament will be given powers to set its own tax rates under new legislation proposed this week.

Under recommendations put forward by the Calman Commission, Scottish income tax would be set at 10p per pound lower than the UK rate, with a corresponding cut in the Treasury grant to Scotland. Holyrood could then set the Scottish rate as it sees fit, depending on spending levels.

If accepted, the new rules would be implemented in full by 2015 – in time for the Scottish parliamentary elections.

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How to use video to promote your business

Tue, 27/07/2010 - 10:24

Chris Barling outlines how firms can wow potential clients and win new business by using video on their company websites.

Viewing videos online is on the rise. According to ComScore, in early 2010 an amazing 5.5bn videos were watched in the UK in one month alone. The growth rate of 37% year-on-year shows no signs of slowing down. It's a true phenomenon.

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