9am Lowdown: Xerocon, OTS, & EU avoidance crackdown

9am Lowdown
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Howdy everyone! Here is the news shaping the world of accounting this morning.


At Xerocon this morning, Xero has announced that it has surpassed a quarter of a million (253,000 as of 30 September 2017) small business subscribers in the UK.

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The OTS has published a paper calling for evidence as it starts its review on capital allowances and depreciation. (Gov.uk)

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Brussels will hit Amazon today with a bill for Luxembourg back taxes worth several hundred million euros in the latest fallout from the EU crackdown on tax avoidance by big multinationals. (Financial Times)

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HMRC has warned it is prepared to take legal action against other "disguised remuneration tax avoidance schemes" in the wake of its victory in the fight with Rangers over the club's use of Employee Benefit Trusts (Herald Scotland)

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Ryanair pilots are being investigated by HMRC over complex employment structures imposed on them by the no-frills airline. (The Guardian)

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