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Cadbury’s abandons treasure hunt

On 19 March, the chocolate maker Cadbury's abandoned its treasure hunt advertising after being advised that it was encouraging children to break the law. It called on children to "grab a metal detector" and dig holes to look for gold and other treasure. It was pointed out that digging can be a criminal offence. There was also concern that the campaign could damage heritage sites. Cadbury ...
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Insolvencies in 2018

There were 115,299 personal insolvencies in 2018, the highest number since 2011. This was mainly driven by a record number of IVAs. There were 16,090 company insolvencies. Worst affected sectors were construction, wholesale and retail, and vehicle repair. [19.01]
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FRC proposes Stewardship Code

The Financial Reporting Council (FRC) proposes a new Stewardship Code for investment stewardship policy and practice. FRC says: The Code will focus on how effective stewardship delivers sustainable value for beneficiaries, the economy and society. The new Code aims to increase demand for more effective stewardship and investment decision-making which is better aligned to the needs of inst...
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Amendments proposed to FRS 101 and 102

The Financial Reporting Council (FRC) has issued: FRED 70 on routine amendments FRED 71 on change for multi-employer defined benefit plans. FRC says: "FRED 70 arises from the annual review of FRS 101 Reduced Disclosure Framework. FRS 101 requires the application of the recognition and measurement requirements of EU-adopted IFRS with reduced disclosures.  Unlike accounts that apply IF...
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Online check on right to work

From January 2019, employers can check an employee's right to work in the UK online. The service was launched in April 2018 but still required some paper documents. The Right to Work Checking Service can be accessed from here. [19.01]
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HMRC has secret service for VIPs

In January 2019, it was disclosed that HMRC has a secret fast service for government ministers, senior civil servants and royalty. It is called PD 1 (for Public Department). Someone calling a special number has the call answered within seconds. There is a single request for national insurance number rather than all the rigmarole required from the proletariat (who typically must wait four minute...
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Tax barrister criticises loan charge

Tax barrister Keith Gordon wrote on Twitter on 17 January a criticism of HMRC's guide to the loan charge that is introduced from April 2019. His comments are reproduced below: HMRC factsheet: “People who use these schemes are paid in loans, rather than a salary in the normal way, to avoid paying tax and NIC.” Gordon: “The tax code allows employees to be paid in different ways – cash or be...
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More maternity protection suggested

The government is consulting on extending maternity protection. Proposals are: greater protection of women from redundancy during pregnancy and six months after birth similar protection for fathers and other partners more publicity for maternity rights. The consultation document can be downloaded from here. [19.01]
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