Pat Sweet

Pat Sweet

Pat Sweet is online reporter at CCH Daily and Accountancy, covering news stories as they happen each day. With a background in specialist publications, Pat has written about the management consultancy and IT sectors, and is now focused on developments in the accounting and finance markets. Contact Pat Sweet

Tax / Small Business Commissioner complaints process outlined

The Department for Business, Energy and Industrial Strategy (BEIS) has published the outcome of its consultation on the complaints process for the proposed new small business commissioner (SBC), and is now consulting on draft regulations covering how the postholder will resolve small business complaints about payment related issues with larger businesses

Tax / US on course for significant tax reform

The Trump administration is planning ‘very significant’ tax reform in the next few months, which could include a so-called ‘border adjustment’ tax on imports, according to an initial outline of plans from Steven Mnuchin, the new US Treasury secretary

Tax / Satisfaction with HMRC digital service levels drops

Latest data from HMRC suggests that it is struggling to keep up with demand for its new digital services, as satisfaction levels have fallen, although it has significantly improved its phone and post handling capabilities

Insight / Gender pay gap 'will not close until 2041'

Opportunities for women in the workplace have rapidly improved in the UK since 2000, but it will take until 2041 for the gender pay gap to close, according to research from PwC

Accounting / Swiss firm loses £80m in South Korean embezzlement

Swiss engineering conglomerate ABB has reported a $100m (£80m) hole in its accounts as the result of an in-house fraud in its South Korean subsidiary, which was master-minded by the local treasurer who is now missing

Insight / Two thirds of UK manufacturers plan to stay put post-Brexit

Two thirds of FTSE 100 and FTSE 250 UK manufacturing executives have no plans to move following the referendum vote to leave the EU, while nearly half are not worried about any potential Brexit uncertainty, according to a survey by KPMG

Tax / EU financial transactions tax plans face further delay

The group of ten EU countries which have agreed to go ahead with a financial transactions tax had an inconclusive meeting in Brussels this week, with differences of opinion emerging over the treatment of pension funds and growing calls for further exemptions to be built into the so-called ‘Robin Hood’ tax

Tax / EU compromises on hybrid mismatch rules with non-EU countries

The European Council has reached a compromise on rules aimed at closing down hybrid mismatches with the tax systems of third countries to reduce risk of double taxation

Tax / Rangers EBT ‘big tax’ case to kick off in Supreme Court

The high-profile dispute between Rangers football club and HMRC over the use of employee benefit trusts (EBT) to make payments to staff and players reaches the Supreme Court next month, in a bid to resolve the issues of whether such payments amount to earnings, which would be taxable as income, or loans

Insight / Investigation into animal charity’s financial controls

The Charity Commission has opened a statutory inquiry into Capricorn Animal Rescue and Sanctuary amid concerns over inadequate financial controls and a failure to account for assets at the charity, which has also attracted criticism from animal welfare groups

Tax / HMRC updates VAT guidance for racehorse owners

HMRC has updated its guidance on the VAT registration scheme for racehorse owners who run a business for the first time since 2002, including new advice on how to register and a change in contact details, and a reminder of the VAT status of any winner’s trophies

Tax / Potential challenge to Uber over £20m VAT claim

Tax barrister Jolyon Maugham has indicated he is planning a legal challenge to rideshare company Uber, which he claims could owe some £20m annually in unpaid VAT on fares

Tax / Scotland passes historic tax vote

There has been a historic vote in the Scottish Parliament where, for the first time in its history, MSPs have passed measures setting all income tax rates and bands, confirming that higher rate Scottish taxpayers will be paying more tax than their counterparts elsewhere in the UK

Insight / Women lose out on pension auto-enrolment

Women are being unfairly disadvantaged over pensions, because they are more likely to have multiple low-paid jobs and cannot meet auto-enrolment requirements, according to research by Citizens Advice, which is advocating a change to the rules

Insight / Fugitive tax fraudster extradited to UK

A runaway tax fraudster is starting a six year jail sentence, after being extradited back to the UK by HMRC for failing to repay £1.5m
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