Good morning and welcome to Tuesday’s Lowdown. Let’s take a look at what’s making the news today.
In the news
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Every IT contractor behind HMRC’s IR35 digital tool has been told that they will be caught by the off-payroll rules. This follows the IT contractors who built the tool leaving the Revenue over fears over their IR35 status. (ContractorUK)
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A tax avoidance scheme promoted by Anderson Group, and used by recruitment agencies, is being liquidated in a move that could prevent HMRC from recouping millions of pounds. (The Guardian)
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France’s president Emmanuel Macron will press ahead with tax cuts promised in 2018 despite warnings from the official state audit body. (Reuters)
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New research from CABA shows that 46% of ACA students are looking to move jobs after qualifying, while 63% surveyed said that they would consider leaving their current employer within a year of qualifying.
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Has MTD stalled? There’s still no news on when Making Tax Digital will move forward. The end of a new research paper published on the 7 July says: “To date no further details have been published as to when these provisions might be introduced.” (Parliament)
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Tweet of the day shows the length some accountancy students will go when under exam pressure.
This Chinese accountancy student tried to give herself a leg-up in a recent exam. Why she posted the picture online is anyone’s guess! pic.twitter.com/5LpvxkMJOs
— Graham Hambly (@PQMagazine) July 7, 2017
What’s new on AccountingWEB
It’s July and we are already halfway through the year. This quiet period is a good point for practitioners to focus on practice management, take stock and update that action plan, says Finola McManus.
Jennifer Adams considers the legal position should mistakes be made in documents submitted to Companies House, and looks at how such mistakes may be rectified.
Over on the blogs, Norman Younger takes a look at the gig economy, politics and pay.
With open banking emerging as one of the most important trends in finance, GoCardless has announced on its Industry update page the launch of a hub to discuss open banking.
And on Any Answers, AccountingWEB member OC is looking for some advice on how other practices utilise social media channels. “My kids use them. I have never used any of them, be that for business or personal use. I do however realise it could be an effective marketing tool,” the member said. Can you offer some Twitter or Facebook tips and tricks?
About Accounting WEB
Contributions from the AccountingWEB.co.uk editorial team.