Good morning and welcome to Thursday's 9am Lowdown.
Higher income tax rates for the rich would help reduce inequality without having an adverse impact on growth, the International Monetary Fund has said. (The Guardian)
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The UK arm of eBay paid only £1.6m in corporation tax last year, even though its US parent had total revenues from its UK operations of $1.32bn (£1bn). (BBC)
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A Lymington accountant has been ordered to pay compensation of £2,000 plus costs for failing to pay a security bond, enforced by HMRC, until three days before the case went to court.
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The chair of the Work and Pension Committee has written to the Chief Executive of the Pension Protection Fund querying the financial settlement for the Monarch Airlines pension scheme.
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On the CIOT website, Nigel Mellor, policy advisor on VAT simplification at OTS, previews the findings of the OTS’ Review of VAT.
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Tweet of the day comes from HMRC:
All Personal Tax Accounts will be unavailable this weekend while we upgrade our online services pic.twitter.com/KsY6u4ocN7
— HM Revenue & Customs (@HMRCgovuk) October 11, 2017
New on AccountingWEB
The young FD at the helm of a rapidly expanding startup tells AccountingWEB about the challenges of raising investment.
Basecone, the cloud scanning and data capture app owned by Wolters Kluwer, took a stand at Xerocon London last week to signal its UK expansion plans.
If the Office for Budget Responsibility is incapable of doing much better than a crystal ball gazer without a crystal ball, what hope is there for the rest of us? Asks Philip Fisher over on the blog page.
“I am now really struggling to convice potential employers/recruiters that my intention is not to keep moving around in jobs,” asks raj1234 on Any Answers. What advice would give to this AccountingWEB member?
Over on the industry insights page, AccountsIQ has announced a number of new productivity and reporting features and integrations with Salesforce CRM and Opera Hotel Management Software.
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Contributions from the AccountingWEB.co.uk editorial team.