Good morning and welcome to Thursday's 9am Lowdown.
Donald Trump has vowed to cut the US business tax rate to 15%, in a speech otherwise short on specifics, but heavy on “America first” rhetoric. (The Guardian)
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Airbnb and the Quebec government announced an agreement Tuesday that will see the home-sharing platform begin collecting a lodging tax on short-term rentals in the province as of October. (Canoe)
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UK politicians have called for the government to cushion small businesses from the impact of a court ruling on business rates (commercial property tax) bills. (Tax news)
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New HMRC guidelines on how people can downsize their home but retain the value of their previous residence for inheritance tax reduction purposes have been branded ‘impenetrable’ by the ICAEW. (Portfolio Adviser)
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New on AccountingWEB
What’s behind HMRC’s increased tax take from SMEs? Christian Annesley gathers views on the tax authority’s priorities, tactics and resources
Richard Sergeant asks experienced accountants what advice they would offer to those starting out on their own for the first time.
The Any Answers question of the day comes from AccountingWEB member Char who asks: Has anyone else recently experienced companies being dissolved owing tax and with no notice given?
Over on the blogs the Imprudent Accountant asks: What’s wrong with high executive pay?
As traditional reporting methods are so time-consuming, financial managers often just forward information, rather than analyse and discuss it. The right Business Intelligence (BI) tools can change this situation, says Exact in an Industry update.
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