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Member Update - July 2018
Keep up to date by attending the IAB’s latest seminars

The IAB has arranged two further seminars covering a range of topics including: Making Tax Digital, tax and payroll updates, automatic enrolment and much more!

Find out more >
IAB member gets a Twitter Boost from Theo Paphitis

An IAB member has received a business boost from Retail Entrepreneur Theo Paphitis.   Claire Cooksey AIAB, owner of CS Bookkeeping Services, tweeted Theo about her business during ‘Small Business Sunday’ and was one of six weekly winners to gain a retweet by Theo to his 500,000 Twitter followers.  The weekly initiative, set up by Theo in 2010, now has over 2200 #SBS winners and supports small businesses in the UK.

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Watch this space: IAB Awards to launch in August

The IAB is holding its annual awards ceremony on Thursday 6th December 2018 at the prestigious House of Commons and nominations will open in August.

This year some of the awards categories will enable people to nominate themselves for an award and provide references or testimonials to support the nomination.

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Auto enrolment: Key messages June and July 2018

If your client is a new employer, make sure they know what to do to comply with their automatic enrolment duties – it’s the law

Compliance with automatic enrolment is high and the vast majority of employers are doing the right thing for their staff and putting them into a pension. If an employer fails to meet their automatic enrolment duties, The Pension Regulator’s recent compliance and enforcement bulletin for Jan – March 2018 shows that they will take action.

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HMRC update on Making Tax Digital

HMRC has released further information on Making Tax Digital (MTD) to support businesses and agents in the run up to the start of the mandatory MTD VAT service from April 2019.

This includes: a new HMRC VAT Notice, an updated list of software developers and a communications pack to support businesses and agents to prepare for MTD.

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Small businesses want educating about MTD

New research from Intuit QuickBooks has found that learning about Making Tax Digital (MTD) is the biggest concern for VAT-registered small business owners as they transition to digital accounting. Over three-quarters (76%) cited understanding the legislation as a challenge, followed closely by finding new tools to help them comply (70%), finding time (66%), managing additional work (64%) and choosing the right cloud-based software (63%).

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Charity Commission moves to online real time updates

The Charity Commission is developing its current service to allow charities to update information such as details of trustees in real time using its online service, with the aim of going live later this summer, at the same time as the 2018 annual return.

The Commission will be asking charities to check that the register details for its trustees remain up to date. This includes adding any new trustees and their contact details. 

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HMRC webinar – Why SARs are important (and how to get them right)

Making Suspicious Activity Reports (SARs) is something you may have to do under the Money Laundering Regulations. But why are SARs so important? HMRC have teamed up with their colleagues at the National Crime Agency to offer you a free webinar and tell you more.

This webinar is aimed at businesses covered by the Money Laundering Regulations and will take place on 25th July between 11am and 12.

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Insurance costs on company cars brought into scope of tax rules

The government has released draft legislation to include costs connected with company cars and vans, such as vehicle maintenance and insurance, within the scope of Optional Remuneration Arrangements (OpRA) rules for tax and National Insurance contribution (NIC) purposes.

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AGM update: the election results

The IAB’s AGM, which took place on 21 June, saw Nicola Bate MIAB AIAAP being elected to Council. Congratulations to Nicola and also to Sue Renaut FIAB, Jenny Coffin MIAB AIAAP and James Sheppard MIAB, who were re-elected to stay on the Council. Sue Renaut FIAB was elected as the Council Chair and Juan Carlos Venegas MIAB FIAAP was named Vice Chair.

Survey: Shaping the Payroll Apprenticeship Qualification

Your views are needed about a new payroll administrator apprenticeship qualification which is being worked on by an employer led trailblazer group.   Ian Holloway, who is part of the group and Head of Legislation and Compliance at Cintra HR & Payroll Services has provided an article with further information about the apprenticeship qualification and a link to complete the short survey.

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The Word from Sarah: IR35

In her regular feature, Sarah Palmer tackles the issues that matter.

One of the roles I carry out on behalf of the IAB is to attend the Employers Payroll Group at the Treasury. Every quarter a group of about 20 individuals each representing a different organisation within this industry, for example, CIPP, ICAS and KPMG meet with HMRC and discuss current topics. The purpose of the meetings are for HMRC to gain invaluable insight into how legislation is working in practice.

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IAB Privileges: Catch the latest blockbusters

Our members’ only cinema discounts are back and they’re better than ever- still with up to 40% off, and now including Odeon theatres as well as Cineworld, Showcase, Vue and many others. This summer will see some highly anticipated releases including Incredibles 2, Mama Mia: Here We Go Again and Mission Impossible: Fallout. So book your tickets now and arrange some weather-proof days out that everyone can enjoy*.

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International - China's second quarter growth meets expectations at 6.7%

China's economy grew at an annual pace of 6.7% in the three months to June, official data showed, meeting forecasts for the period.

That marked a slight slowdown from a 6.8% expansion recorded in the previous quarter.

The data comes as the government attempts to curb growing debt and as trade tensions with the US escalate.

Read the full article on BBC News >
© 2007-2018 International Association of Bookkeepers

*Terms and conditions apply. See website for details. Discounts vary between cinema venues. Please check when purchasing vouchers. Registration to The Cinema Society is required to access discount. IAB Privileges is managed and run on behalf of IAB by Parliament Hill Ltd.

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