9am Lowdown: Brexit, penalties & Queen's speech

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Good morning and welcome to this morning’s 9am Lowdown. Richard here –let’s take a look at what’s happening in the world of accounting today.

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In the news

The Conservatives dropped several of their manifesto pledges such as the Fixed-term Parliaments Act and what had widely become known as the “dementia tax” in a slimmed down Queen’s speech. (See The Guardian for more)

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One year on from the EU referendum vote, new research from AAT has found 22% of small businesses more positive about the current impact of the referendum’s decision on their business. 40% of the SME owners surveyed believe that Brexit would ultimately be a success.

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Yesterday, the European Commission proposed penalties for tax advisers in the European Union who do not inform authorities about "potentially aggressive tax planning arrangements" set up for their clients. (Reuters)

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Senior staff at Lincoln firm Russel Payne & Co were no longer prepared to work under the firm’s management before it fell into administration earlier this year. The firm large had large debts it owed to HMRC and other creditors.  (the business desk)

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Tweet of the day this morning comes from the editor of PoliticsHome.com, Kevin Schofield:

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On AccountingWEB

In the news: Samantha Mann, the CIPP’s senior policy and research officer, considers whether the rules for taxation of employee expenses are fit for purpose in a modern world.

Elsewhere, spreadsheet whiz Simon Hurst delves further into his analysis of specific techniques used when working with PivotTables. In his latest tutorial, Hurst explores different ways users can calculate figures shown in the Values areas.

Over on the blogs, Brendan Woods from AutoEntry finds out what accounting firms can learn from Formula One.

Meanwhile, the AccountingWEB members are chewing over the Queen’s speech on Any Answers. RedFive queried the implications of the NIC changes. Oh, and a little something called MTD was conspicuously absent from the speech. Join the discussion.

And on the Industry update page: Tait Walker selects MyFirmsApp to create its first custom app to streamline mobile communication with clients.

About Richard Hattersley

Richard is AccountingWEB's practice correspondent. If you have any comments or suggestions for us get in touch.


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