News & Views

The turnover of the UK’s Top 100 taxi and minicab firms has fallen for the first time in five years, as they lose market share to Uber.

An interest rate rise of just 0.5% would cost households an extra £3.4 billion in interest payments in just the first year.

A welcome announcement from HMRC has confirmed that there will be a new timetable for the introduction of Making Tax Digital. 

Our latest owner managed business report ‘Strength amidst uncertainty in 2017’ finds that almost a third (29%) of owner managed businesses are certain or very likely to review their succession plans during the course of  this year, but many may not be aware of the full range of options available when considering the future of their business.
 

The Insolvency Service is clamping down on individuals who are disposing of their assets irresponsibly when facing financial stress, rather than paying back their debts.

Our research shows, 26% of construction companies currently exhibit warning signs that indicate they are at risk of failure*.

By law, the minimum amounts paid into automatic enrolment pension schemes are increasing.  Employers need to take action now to check whether and how they are affected.

In a recent article published in the July 2017 edition of the Tax Journal, Jackie Wheaton, Associate Director at Moore Stephens answers a query on the tax treatments of option contracts for income taxpayers and corporation taxpayers are different and are summarised as follows.
 

On 29 June 2017, the European Securities and Markets Authority (ESMA) issued a public statement in respect of the work being undertaken in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors. 

Last year firms were sent a Dear CEO letter on the PRA’s intention to review the accuracy of COREP returns. We now know now that the regulator is currently pressing ahead with a wave of S166 reviews targeted at many of the foreign owned banks.