Law and regulation

Insight / Failure to report on PSC register risks criminal prosecution

Companies House is sending out reminders to companies and individuals who have failed to publish their ownership information on the people with significant control (PSC) register before their details are passed to the Insolvency Service’s criminal enforcement team

Insight / Collective redundancy and insolvency guidance updated

The Insolvency Service is to publish guidance for employers and insolvency practitioners to clarify how to manage staff redundancies during insolvency to address incompatibilities between insolvency and employment law identified in a call for evidence

Accounting / Thousands of companies avoid disclosing ultimate ownership

Despite efforts to force companies to disclose their ownership through the PSC register, tens of thousands of British companies are still not complying with the rules brought in to counter fraud and money laundering

Insight / The Pensions Regulator commits extra funding to regulatory work

The Pensions Regulator (TPR) plans to toughen up its regulatory approach to failing and high risk pension schemes over the next three years as it increases the budget for monitoring and compliance following a spate of pension failures

Insight / ICAEW issues GDPR guidance for accountants

ICAEW has issued guidance and a quick checklist for accountants to ensure they comply with the General Data Protection Regulations, due to come into force on 25 May

Accounting / Late filing by charities leaves £42m in exposed donations

The Charity Commission has flagged accounting failures at a quarter of charities that failed to provide annual reports and accounts for two years or more, and subsequently went into default

Insight / Charities need to comply with GDPR data rules

The Charity Commission is stressing that charities must get to grips with the General Data Protection Regulations (GDPR), which become law on 25 May 2018

Insight / One month to go until GDPR comes into force

Today marks the start of the final month before the General Data Protection Regulation (GDPR) comes into force, with the Association on Accounting technicians (AAT) providing five tips on what businesses should do if they have not taken any action to date

Insight / Pensions regulator to take pub chain to court

The Pensions Regulator (TPR) has announced it is to prosecute the pub chain Samuel Smith Old Brewery (Tadcaster) and company chairman Humphrey Smith for failing to provide information and documents required for an ongoing TPR investigation

Insight / EU plans to strengthen whistleblower protection

In the wake of scandals such as the Panama Papers, the European Commission is proposing a new law to strengthen whistleblower protection to ensure safe channels for reporting concerns over unlawful activities, financial irregularities and governance failures both within an organisation and to public authorities

Insight / High Court judgment shines light on shadow directors

The High Court has handed down judgment in a complex case involving the role of the former directors and their professional advisers in a company called Instant Access Properties Ltd (IAP), which has shed light on the issues of what fiduciary duties are owed by shadow directors

Insight / What companies should do to improve their gender pay gap

Today is the last day for private companies to report their gender pay gap ahead of tomorrow’s deadline, but employers need to ensure they do not put the pay gap issue to one side once the deadline passes, warns Suzanne Tanser, reward business manager at Croner

Insight / ‘Reckless behaviour’ with pension schemes to be made a crime

The government plans to introduce a new criminal offence to punish reckless behaviour in relation to a pension scheme, which it says will form part of a ‘tougher approach for those whose irresponsible decisions impact on their pension scheme’

Insight / Five things accountants need to know about GDPR

As well as advising clients on how to be compliant with the General Data Protection Regulation (GDPR), which comes into force on 25 May, accountants must also ensure that their firms are prepared. Adam Prince, vice president of compliance, product management at Sage, provides five tips on what accountants can do to be compliant by the deadline

Insight / Employer auto enrolment contribution set to double

Auto enrolment pension contributions are set to double for employers from April and companies will have to pay a minimum contribution of 2% from the 2018-19 tax year