James Bunney

James Bunney

James Bunney is content editor, Accountancy magazine and Accountancy Daily, published by Croner-i Ltd. Before joining Accountancy he was a production editor at Cision.

Tax / Employment tax updates: February 2019

In our monthly roundup of employment tax developments HMRC releases P11D guidance to clarify OpRA rules, Treasury to review 2019 loan charge

Tax / Tax updates: February 2019

This month's review of tax cases and tax news including taxpayer loses £1m Excalibur scheme appeal, HMRC targets multinationals with profit shifting disclosure, tribunal confusion over BlackRock VAT for financial services case

Accounting / Accounting updates: February 2019

In this month’s roundup of accounting and reporting developments, FRC set to amend FRS 102 defined benefit pension rules, FRC consults on tougher stewardship code, former Tesco FD cleared in £250m accounting fraud, Patisserie Valerie calls in KPMG as administrators

Tax / MTD: examples from around the world

There are just over 70 days until Making Tax Digital (MTD) goes live in the UK. James Bunney looks at several other countries where digital reporting has been introduced in recent years

Tax / Cup Trust charity trustee accused of 'mismanagement and misconduct'

The Charity Commission has concluded a five-year investigation into The Cup Trust, a charity involved in a complex tax avoidance scheme worth £46m, having found ‘clear mismanagement and misconduct’ on the part of sole trustee Mountstar

Tax / Appeal upheld over missing HMRC letters

A case of disputed late filing penalties saw the First Tier Tribunal (FTT) uphold an appeal by an employee who claimed that HMRC should have known his address as they had previously been in correspondence with him

Tax / HMRC issues updated ADR guidance

HMRC has updated its guidance on the use of the Alternative Dispute Resolution (ADR) service, providing taxpayers with improved information over when and in what circumstances the service can be used

Tax / Making Tax Digital: where are we now?

Making Tax Digital (MTD) for VAT, which goes live in April 2019, has left accountants confused and businesses struggling to keep up. James Bunney examines the current situation and what MTD means for the future of business tax

Tax / Commission proposes majority rule on EU tax votes

The European Commission has launched a debate to change the way that tax law is passed within the EU, suggesting abandoning the unanimous vote needed and relying instead on a majority in order to speed up the progress of tax legislation

Accounting / IVSC consults on non-financial liabilities standard

The International Valuation Standards Council (IVSC) has launched a consultation on a proposed new standard, IVS 220 Non-Financial Liabilities, which provides guidance on valuing for goods and services rather than financial assets

Audit / BEIS committee warned over audit reform proposals

Both academics and business experts raised concerns of ‘unintended consequences’ of audit reforms to the business, energy and industrial strategy (BEIS) committee, with broad disagreement over whether the changes should be led by government or business, reports James Bunney

Insight / FSB demands reform one year on from Carillion

The collapse of government outsourcer Carillion on 15 January 2018, which cost the taxpayer an estimated £150m, has prompted greater scrutiny of the outsourcing market and calls for a major reform from the Federation of Small Businesses (FSB)

Tax / FTT cannot rule on self assessment refusal

The First Tier Tribunal (FTT) has determined that it has no jurisdiction on whether HMRC accepts or rejects self assessment tax returns in the case of a shop owner who failed to file his returns for 16 years running and was then subject to a bankruptcy petition

Audit / Pentagon pilots financial database after audit failure

The failure of its first audit has led the US Department of Defense (DOD) to begin the development of a central database that will record all financial transactions across its operations and aid it in managing a $692bn (£541bn) budget

Insight / £60bn spike in defined benefit pension deficit

A survey of 5,600 of the UK’s corporate defined benefit pension funds shows that the deficit rose by £60bn to £290bn over the course of December 2018, reversing gains made in 2018 and indicating growing uncertainty over Brexit
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