Business

Insight / FCA confirms Payment Services Directive implementation approach

The Financial Conduct Authority (FCA) has published its approach to implementing the revised Payment Services Directive (PSD2), which aims to make payments safer and more secure, affecting all institutes which provide payment-related services from 13 January 2018

Insight / US tax authority grants filing extension to hurricane victims

The US Internal Revenue Service (IRS) has granted an automatic filing extension to businesses and individuals affected by Hurricane Harvey, extending tax filing and payment deadlines beginning 23 August 2017 to 31 January 2018

Tax / Anti-money laundering online service rejecting certain reference numbers

HMRC’s new anti-money laundering service, the Supervised Business Register, provides taxpayers with longer reference numbers which are not currently compatible with its search tool, meaning taxpayers must use the company name to verify if the business is registered under Money Laundering Regulations

Insight / Economic trends: removing currency risk post-Brexit

Carl Hasty, director of Smart Currency Business, provides a potted history of currency movements between sterling and the euro since the UK voted to withdraw from the EU, and examines the level of risk to the pound going forward

Insight / Moore Stephens' revenue up by 15%

Revenue at Moore Stephens, the largest member of top ten accountancy network Moore Stephens UK, has increased by 15% in the last year to £121.4m in 2017, up from £105.5m in 2016

Insight / Changes to way Insolvency Service calculates holiday pay payments

The Employment Appeal Tribunal has made a decision which affects how the Insolvency Service’s redundancy payments service (RPS) calculates holiday pay payments

Insight / Why digital transformation rarely happens overnight

Alessandro Evangelisti, ‎finance & supply chain cloud evangelist at Oracle, outlines why companies should go digital at their own pace, explaining how they must first focus on the most pressing issues and then further digitize as they add new products and services

Insight / Seven arrests in connection to missing £10.25m Northampton Town FC loan

Police have confirmed seven arrests made in connection with a missing £10.25m loan made to Northampton Town Football Club

Insight / Jane Austen £10 polymer note in circulation

The Bank of England has printed just over one billion new polymer £10 notes, featuring an image of renowned novelist Jane Austen, ready for issue from today, 14 September, when the new note comes into circulation

Insight / Bell Pottinger calls in BDO as administrators

Three partners at BDO have been named as administrators to PR firm Bell Pottinger which has collapsed after haemorrhaging clients following public condemnation of a highly controversial campaign the agency ran in South Africa

Tax / BEPS rules failing to curb offshore profit shifting

The Netherlands and the UK, far from discouraging financial flows to low and no-tax financial centres, are actually encouraging them, according to the findings of an academic report by the University of Amsterdam which shows that BEPS has been slow to effect real change in corporate tax policy. Global Tax Weekly editorial team examines the findings

Tax / HMRC opens Croydon regional hub

HMRC has officially opened the doors to its first regional hub in Croydon, which 2,600 employees will occupy by 2021, in an opening ceremony held at the new offices headed by executive chair, Edward Troup. CCH Daily's Amy Austin reports

Tax / British Virgin Islands reopens online company registration portal post Irma

In a statement following the devastating effects of Hurricane Irma, the British Virgin Islands’ (BVI) Premier Orlando Smith has made it clear that restoration of the islands’ economy and substantial financial services industry will be a priority alongside ensuring requisite humanitarian aid

Insight / Carillion replaces FD and management team

Troubled construction and outsourcing group Carillion, one of the contractors on the government’s high profile HS2 rail project, has announced that Zafar Khan, group finance director, has left the company with immediate effect, while it is implementing a number of executive management changes including bringing in an EY partner

Insight / Cashflow problems terminal for software supplier

Donald McNaught, partner with Johnston Carmichael has been appointed as administrator to Edinburgh-based software developer Payfont Ltd, which has collapsed with the loss of all jobs
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