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Reporting a change of company car

HMRC has admitted there is a mistake in its Employer Bulletin of August 2018 regarding replacement of a company car. The Bulletin says that such a change can no longer be reported online. The Chartered Institute of Payroll Professionals queried this as they were unaware of any change. The correct advice from HMRC is: “Replacing a company car – If your employee changes their company car, you ...
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CEO pay ratio regulations

On 21 August 2018, the Companies (Miscellaneous Reporting) Regulations were laid before Parliament. These will require listed companies with more than 250 employees to report the pay ratio between their chief executive and ordinary workers. The Regulations come into force from 1 January 2019 with the first CEO pay ratios reported in 2020. Companies within the scope are required to report ...
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Revenue consultant jailed for fraud

Mike Hughes, who worked for Inland Revenue in the 1980s, was sentenced to 9½ years prison for stealing £6.9 million from fraudulent payroll schemes. The money should have been paid to HMRC. Hughes left the UK for Chile and Dubai in 2011, before settling in Northern Cyprus which has no extradition treaty with the UK. He was arrested in January 2018 on his return from Turkey, and sentenced on ...
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US imposes massive expansion of Chinese tariffs

President Trump has imposed new tariffs of $200 billion on Chinese goods in the biggest increase in US tariffs yet. The change was announced on 17 September 2018. The new tariffs apply from 24 September 2018 at 10% on 6,000 items. The tariffs will rise to 25% in 2019 unless the countries resolve their trade war before then. Unlike the two previous increase in tariffs, this phase includes man...
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New €100 and €200 notes

New €100 and €200 banknotes go into circulation on 28 May 2019. Their designs were revealed on 17 September 2018. The notes are slightly smaller than existing notes. They continue to be printed on cotton fibre paper. The EU has decided not to move to plastic banknotes. The change in size means that note dispensing machines must be adapted. There are additional security features in the new...
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Support the Heroes wound up

The charity Support the Heroes plans to wind up by the Charity Commission because of concerns over its fundraising. The Commission issued a public notice to this effect on 17 August 2018. The charity was set up in February 2014 with the object of supporting those who serve or have served in the armed forces, with a particular focus on those suffering from post-traumatic stress disorder. Its inc...
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Record response on plastic waste

A Treasury consultation on using the tax system to cut plastic waste prompted a record 162,000 responses. The Chancellor has already stated that he is considering introducing provision in the 2018 Budget to discourage the single use of plastic. This follows the success of the carrier bag charge of 5p which has seen the use of single use bags cut by 80%. The Treasury's response can be downloa...
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KPMG fined over Ted Baker

KPMG was fined £3 million by the Financial Reporting Council (FRC) for its work for fashion retailer Ted Baker. FRC said the firm gave expert evidence in the commercial court in breach of ethical standards. Giving evidence compromised the firm's independence in relation to the 2013 and 2014 audits. Michael Barradell, the firm's senior audit partner, was fined £80,000. Both fines were reduced...
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Compensation for handshake refusal

A Swedish Muslim woman won £3,420 compensation in a Swedish labour court because she refused to shake hands. Farah Alhajeh applied for a job as an interpreter. She refused to shake hands for religious reasons. She refuses to have any kind of physical contact with people of the opposite sex outside immediate family. Instead she placed her hand over her heart as a greeting. The refusal to shake h...
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