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 ICPA ACCOUNTANCY & TAX PORTAL

Welcome to the ICPA Accountancy & Tax Portal provided in conjunction with our partners Taxationweb.

Below is a list of our most important recent articles which you can read in full by clicking on the links.

Alternatively you can select a topic from the menu to the left of the screen to see our full list of articles for that topic. We hope you find the articles both useful and informative.

Overdrawn DLA: A Penalty Problem

HMRC certainly love a penalty and along with "Reasonable Care" "Failure to Notify" is a long established favourite.  Here we see how they applied it to an overdrawn directors loan account, so as Mark points out beware.

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Work Related Anxiety

MIND reports that 1 in 6 workers is dealing with mental health issues such as anxiety. ACAS tells us what sign sot look out for and how to approach talking with those we believe are effected.

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Sign up a client to MTD4VAT

HMRC have updated their guidance so here is the latest revised guidance on how to sign up a client to MTD4VAT. Please don't forget that your software will be issuing a receipt for the Vat Return when filed NOT HMRC.

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Charities to be hit by new admin layer because of AML regs

Charitable trusts could find themselves dragged into another ;layer of admin cost as a result of Fifth Money Laundering Directive as this article from AMLCC points out.

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£1Billion deal to solve  poor mobile coverage

It is a fact that as 5G is being rolled out in major cities in the UK there are great swathes of the country that have virtually no coverage worth a light. This announcement tries to explain how HM Gov will address the situation and how the providers are going to back it and make it happen.

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Reform of Off-Payroll working rules

The latest HMRC Brief on the vexed subject of Off-Payroll working or to put it another way IR35. Short on substance but with bank after bank altering their contractors contracts one feels the tide is turning against the Contractor.

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Helping with the HICBC

Child Benefit remains a universal benefit it's just it's capped and it's capped via an Income Tax charge. This change has meant countless parents are caught out and find themselves owing money and it's no longer simple to understand nor administer. This article will definitely help.

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MTD: Additional Time Application

We all know, I hope, that HMRC have provided a soft landing period of one year for MTD4Vat. However, HMRC know full well that some businesses will simply not be ready after one year due to overriding tech issues. So if your client is struggling with complicated tech issues or as HMRC pout it legacy issues this article will tell you how to go about getting extra time.

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EORI Mythbusters

With Brexit looming, we think, HMRC have put together a useful mythbuster document dealing with issues around the use and abuse of an EORI number.

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Government criticised over giving banks key oversight role

it is obvious that banks have a central role to play in helping combat money laundering and economic crime in general. However, should they be party to settling the rules?

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Digital down under : What's MTD in Australia like?

In the UK the digital agenda for all things taxation is frankly in its infant. In Australia they are years down the line so it's great to have their take on what the digital future may well hold for us.

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Mobile App Downloads shatters record in Q2 of 2019

If ever it was in doubt that app technology including mobile apps is transforming both our lives and our working life this article shows just how this technology is is achieving just that.

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Exception from Vat Registration

We're talking Exception from registration NOT exemption. The team from CronerTaxwise take a look at and explain what exception is all about.

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Not clear! "Business" & Incorporation Relief

Where tax is concerned I'd wager that most taxpayers want as a minimum clarity when push comes to shove. Mark demonstrates quite clearly how this is not the case when it comes down to something as fundamental as what is a business.

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HMRC cracks down on gangs over renewable energy vat fraud

When it comes to fraud VAT seems to score quite high. As this article shows from "missing traders" to "Mobile 'phones" and of course "Gold" fraudsters have been hard at work. Now, this time it's renewable energy.

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How to spot a non-compliant umbrella scheme

Confused about umbrella companies? do your clients ask what to look out for? This article form Contractor Weekly will definitely help.

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New advice on TOMS

Overpaid vat as a result of a TOMS error? HMRC have updated their guidance as this article discusses.

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LLP and Member's Tax Returns in the first year of trading

How are the first years profits of an LLP detailed on the members Personal Tax Returns? The team from CronerTaxwise were asked and here is their reply.

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GDPR fines risk for accountancy practices

GDPR has not gone away and the regulators across Europe and the UK are toughing up their attitude to non-compliance. Accountants need to ensure their own compliance and look to help their clients as well. As this articles hows the fines are starting to flow.

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HMRC letter to Universities for Student Intake

Here is the text of a letter sent by HMRC to all universities for them to hopefully pass on to their new student intake and existing students. Students need to be aware of the scams that will be directed towards them.

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Grants for businesses that complete Customs Declarations

Recently updated HMRC set out what grants are available for both training and tech improvements in these circumstances. The article sets out everything that is needed to apply, how to apply and who indeed can apply and helpfully how the grant is to be treated for tax purposes.

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