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 / HMRC raids Newcastle and West Ham football clubs

Over a hundred HMRC officers have been deployed on early morning raids at two football clubs - Newcastle United and West Ham -  with several arrests made in connection with allegations of tax fraud

Tax / Lowest earners lose 10% of salary to taxes

One in five of the poorest UK taxpayers are paying more than 10% of their salary on taxes such as income tax, National Insurance contributions and council tax, compared with top earners paying up to 23%

Tax / Tyrie quits Parliament and Treasury committee

Andrew Tyrie, longstanding chair of the influential Treasury select committee, has announced he is ending his 20-year political career and will stand down as an MP at the general election, in a move which has taken Westminster by surprise

Tax / Horse betters face gambling crackdown

The European Commission has approved the UK’s plans to reform the existing horserace betting levy scheme to include offshore bookmakers, which have been judged to be in line with EU state aid rules

Insight / IFRS Foundation income grows by £3.2m

The IFRS Foundation has reported total income from all activities increased by £3.2m to £30.6m last year, most of which came from voluntary contributions, but comprehensive income has risen from £2.7m in 2015 to £3.2m, according to its 2016 annual report

Tax / Pressure to amend Making Tax Digital plans

Government departments and select committees have now entered a period of ‘purdah’ as the general election campaign gets underway, but there are signs that the two committees scrutinising HMRC proposals for Making Tax Digital are planning to work together to push for more changes and a slower implementation of the current plans

Insight / Deloitte launches brand campaign

Deloitte has launched a major new brand campaign in the UK, under the banner of ‘Deloitte Do’, which has been developed by global advertising agency BBH and is designed to tell the story of the firm’s impact across the breadth of services it provides to clients

Tax / Early adoption of tax common reporting standard problematic

Many of the data submissions made by early adopters over the next two months under the new common reporting standard (CRS) are likely to be rejected and returned for correction and resubmission, adding to compliance costs, according to predictions from Sovos, a global tax compliance solution provider

Tax / HMRC consults on 20% VAT on non-EU mobile roaming charges

HMRC has opened a four-week consultation on plans announced at Budget 2017 to charge UK VAT on all telecommunication services, particularly mobile phone calls and internet browsing, used outside the EU by UK consumers

Insight / Accounting pay and vacancies on the increase

The accounting sector has seen one of the largest rises in advertised salaries over first quarter of the year, with a year-on-year increase of 6.6% compared to the national average of 1.3%, according to data from CV-Library

Tax / Updated guidance on HMRC compliance checks

HMRC has updated its guidance on what happens during compliance checks on businesses, including details of what constitutes a ‘reasonable excuse’

Tax / Conservative ‘tax lock’ could be unpicked

The Conservatives have yet to launch their election manifesto, but comments made so far on the campaign trail suggest the party is likely to consider abandoning its previous pledge not to raise income tax, VAT or national insurance taxes in the next Parliament

Insight / Top level corporate pay restraint continues

Top level pay restraint continues and executive pay levels are falling in real terms, with getting on for half of top bosses receiving no salary increase this year, according to PwC’s mid-season analysis of FTSE 100 remuneration policies

Tax / Tax-free childcare scheme opens

The channels are now open for working parents to start applying for two new government childcare schemes launching this year – tax-free childcare which begins immediately and 30 hours free childcare which starts in September

Insight / Jail term for property developer in £640k fraud

A former Ascot-based property developer, who stole the details of an offshore company in the British Virgin Islands and forged documents to commit fraud and evade VAT, has been jailed for three years and seven months following an HMRC investigation