Accounting and audit if there's no Brexit deal
The government has issued a technical notice that explains the implications for accounting, corporate reporting and audit 'in the unlikely event that the UK leaves the EU in March 2019 with no agreement in place'.
The notice focuses on where UK currently law offers equivalence, options and exemptions that are reliant on interaction with EU legislation highlighting actions that businesses and other stakeholders should take. For an overview of the technical notice, see out blog post Accounting And Audit If There Is No Deal, here.
Charities and Housing SORP updates published
SORP-making bodies have continued to update respective SORPs for implications of the December 2017 Triennial Amendments to UK GAAP.
- The National Housing Federation has issued a Housing SORP: 2018 Update.
- The Charities joint SORP-making body have also issued Update Bulletin 2 to accompany the Charities SORP (FRS 102).
Update Bulletin 2 for charities consists of 'significant' and 'clarifying' amendments. Significant amendments are applicable for reporting periods commencing on or after 1 January 2019. Whilst clarifying amendments are noted as applicable for reporting beginning on or after 5 October 2018, the Bulletin also highlights that these clarifications reflect existing requirements of FRS 102 and are already applicable for charities preparing accounts in accordance with that standard. This second Bulletin is read in addition to applying Update Bulletin 1 and the Charities SORP (FRS 102).
Budget 2018: tax-related documents
All HMRC tax related documents and other announcements for Budget 2018. To read more, please click here.
HMRC launch MTD pilot BUT deferral until October 2019 for certain businesses
HMRC has launched a comprehensive MTD pilot BUT has deferred the start date until October 2019 for certain businesses. To read more, please click here.
VAT: changes to the supply of digital services 2019
HMRC has issued a tax information and impact note about changes to the VAT rules for businesses making sales of digital services to consumers across the EU. To read more, please click here.
Government Gateway replacement: services that have moved
Services on the Government Gateway are gradually being moved to replacement systems. All services will have moved by March 2019. To read more, please click here.
Record £15.6 million underpayment identified for workers on the minimum wage
More than 200,000 workers who were paid less than the minimum wage have been identified following a record Government clampdown. To read more, please click here.
Complain about pay and work rights
HMRC has updated the online form to complain about information relating to National Minimum Wage, employment agencies, gangmasters or working hours. To read more, please click here.
OFFICE GOSSIP & IDLE CHAT
Mercia Incorporating SWAT - Joining forces
In case you haven't seen our latest news, SWAT and Mercia are joining forces and combining our expertise to deliver an enhanced service to help you keep technically up to date, comply with the many regulations, develop your staff and grow your business.
2019 Training Brochure
Look out for our new 'Mercia Incorporating SWAT' 2019 Training Programme. With over 1,000 face-to-face events running in over 80 venues nationwide (and over 200 events available online), our enhanced offering provides you with more choice and greater flexibility than ever before!
We've moved!We are excited to announce that we have moved offices. Our new address is:
2 Thorpe Way
A post redirection service is currently in place. Therefore, anything you have recently sent to Best House will reach us at Thorpe Way.