Home / Articles posted byRobertleach (Page 2)

Author: Robertleach

Crossrail may be delayed to 2021

Crossrail may not open until 2021, according to a BBC report on 18 April 2019. Crossrail was to open as the new Elizabeth Line on the London Underground in December 2018. It was delayed because of the need for more testing. It is believed that the most optimistic outcome is opening in spring 2020. [19.04]  
Read More

Jet Airways

Jet Airways, the Indian airline, suspended all flights on 17 April 2019. This follows problems with its finances. The company has debt of almost £1 billion. [19.04]
Read More

HMRC taxonomies for 2019

On 12 April 2019, HMRC revised its taxonomies for 2019, effective from 1 April 2019. A taxonomy is a series of codes that must be allocated to items in financial statements and tax computations. Taxonomies are periodically updated to reflect changes in law and accounting standards. Further details can be accessed from here. [19.04]
Read More

VAT road fuel scale charges

HMRC has published VAT road fuel scale charges for VAT periods that start on 1 May 2019, or for the first VAT period that starts after that date. The scale charge accounts for output tax on road fuel bought by a business for cars but then used for private mileage. Businesses which use the scale charge mayrecover all the VAT charged on road fuel without having to split the mileage between bus...
Read More

Barbados Stock Exchange

Barbados Stock Exchange is a recognised stock exchange from 2 April 2017 for the purposes of Income Tax Act 2017 s1005(1)(b). The term "recognised stock exchange" is used for various tax provisions, such as for investments that may be held in an ISA. A list of recognised stock exchanges can be downloaded from here. [19.04]
Read More

Charity dissolved for cash couriering

The charity Worldwide Ummah Aid has been dissolved by the Charity Commission in April 2019 for cash couriering. It has also removed two trustees and disqualified a third. The charity was established in 2012 to relieve poverty in the Middle East and Eastern Europe. The Commission found withdrawals that were unaccounted for. There was a lack of proper accounting and controls. The Commission...
Read More

IR35 provisional rules for private sector

HMRC has published provisional rules for applying IR35 rules to the private sector from April 2020. These are out for consultation until 28 May 2019. IR35 deals with when a person who would otherwise be regarded as an employee is kept off the payroll by providing their services through a limited company. It broadly requires that limited company to treat the person as its employee and operate PA...
Read More

FRC to be replaced by ARGA

The Financial Reporting Council (FRC) is to be replaced by a new tougher Auditing, Reporting and Governance Authority (ARGA), the government announced on 11 March 2019. This requires primary legislation. ARGA will have a new mandate, new leadership and stronger legal powers. FRC's current chief executive Stephen Haddrill will stand down later in 2019. Chairman Sir Win Bischoff and deputy cha...
Read More