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9am Lowdown
AccountingWEB

9am Lowdown: Brexit, accounting error & Valentines

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13th Feb 2017
Editor AccountingWEB
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Good morning. It’s Monday. Dry away those tears and behold the 9am Lowdown.

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Accountants in Brexit demand

Accountants will be in demand during the Brexit process, according to MPs.

Research commissioned by AAT and ACCA revealed almost half of MPs (47%) believe that Brexit will have a positive impact on the accountancy profession, because accountants can advise clients on the implications of exiting the European Union.

Over half of MPs (55%) have called for EU tax legislations to be reviewed immediately, rather than waiting until Brexit takes place.

John Williams, Head of ACCA UK: “It is good to see that MPs are confident that the accountants will rise to the challenge posed to business by the uncertainties of Brexit. Yet it is even more important that politicians recognise the value the accountancy profession can bring to the UK economy as it enters one of its most profoundly important periods since the Second World War.”

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Accounting error causes Couple to loses visa eligibility 

A couple who run a Torquay business have two months to return to South Africa because of an accounting error, reports ITV news.  

Paul and Gail Freathy, originally from Johannesburg, discovered that they were not eligible to reapply for a spousal visa because they did not pay themselves a salary from their businesses.

Paul Freathy said: “I would have been under the impression that any money that we earn in the business - because we own the business - would be our money. Wrong!

“It's not, because we didn't pay it to ourselves as individuals it doesn't become individual earning.”

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Tax community compose #Taxvalentines 

The tax world has been struck by the Valentine ’s Day bug. Composing verses, the tax community has expressed their poetry on Twitter. Their muse, however, is not their beloved - it's tax.

Here are some of our favourite #taxvalentines tweets: 

 

 

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By Chaztax
13th Feb 2017 12:58

Roses are red,
and buttercups gold.
Theresa, please please put
MTD on hold.

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