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Member Update - February 2017
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Next steps for Making Tax Digital
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Businesses that cannot go digital will not be required to do so, says HMRC, which has released more details about how it plans to proceed with digitising the tax system through its flagship Making Tax Digital (MTD).
Following extensive consultation, HMRC said businesses will now be able to continue to use spreadsheets to record receipts and expenditure. These will be linked to software that will automatically generate updates and send them to the taxman. Free software will also be available to most of the smallest businesses.
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Find out more >
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New IAB seminar announced!
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The IAB has arranged the first in a series of seminars for 2017. The seminar will cover topics including: Making Tax Digital, automatic enrolment, FRS 102 and 105 and much more.
The event will take place in London on Thursday 18th May 2017 and is an excellent way to gain updates for your own business or the business you work for and your clients.
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Europe’s largest Business Exhibition returns to the ExCeL!
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Europe’s biggest and best free business exhibition is back on 17th & 18th May at ExCeL London. The Business Show is a must-attend for anyone looking to start or grow their business. Join 25,000 entrepreneurs and business owners for 250 educational seminars across 19 theatre halls covering everything from managing your cashflow and branding to small business advice and investment.
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Auto enrolment: key messages February 2017
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Don't let your clients risk their credit rating.
The Pensions Regulator are beginning to see the first employers receive County Court Judgements (CCJs) for a failure to pay their automatic enrolment fines. This can happen when they persistently ignore the penalty notices TPR sends them.
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New website to help with auto enrolment
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Pension Solution has been set up specifically to help small employers through automatic enrolment. It was created by the Pensions and Lifetime Savings Association, a not-for-profit organisation uniquely positioned to offer impartial services. Membership of this organisation offers a step-by-step guide for busy small business owners on automatic enrolment......
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SMEs disproportionately hit by financial pain
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The number of British firms facing significant financial distress has risen for the 13th consecutive quarter, with SMEs bearing the brunt of the pain. Fourth-quarter data from insolvency experts Begbies Traynor shows that 276,518 businesses finished 2016 in a state of distress, an increase of 3% compared with the same period last year.
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Addressing the impact of money laundering
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For professionals in the bookkeeping and accounting industries, the wider impact of money laundering can appear somewhat abstract in the grand scheme of things. Juggling challenging schedules and trying to provide the best possible service to clients means there can be little time spare to think about money laundering.
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Are you looking to further your studies and continue your professional development? If so, have you considered studying an IAB bookkeeping or payroll qualification? As a professional member you are entitled to a £10 discount from any IAB qualification registration fee if you choose the self-study route.
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Late payment costs freelancers £16.5m a year
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Freelancers are losing an estimated £16.5m each year because of the amount of time spent on chasing invoices for late payment, according to research from IPSE, the Association of Independent Professionals and the Self Employed. It also warns of continuing difficulties in communicating with HMRC.
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Word from Sarah: Why now is a great time to be a bookkeeper!
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In her regular feature, Sarah Palmer tackles the issues that matter.
Every once in a while a wave of change sweeps through a profession or industry bringing with it much needed benefits to all those working at its heart. I believe the bookkeeping profession is going through this change, driven primarily by the advancement of cloud accounting software.
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IAB Privileges: Smartphones, smart prices
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Your smartphone. File under: essential. That doesn’t mean you should pay through the nose for your contract. Beat the high street tariffs and get the latest handsets on EE with award-winning dealer Voice Mobile*.
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International - France, Germany, Italy urge rethink of foreign investment in EU
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France, Germany and Italy have asked the European Commission to rethink rules on foreign investment into the European Union amid concerns that technological know-how is leaking abroad, the three countries said in a joint letter obtained by Reuters. The economy ministers of France and Germany and Italy's industry minister voiced concern that a growing number of non-EU investors were buying up European technologies for the strategic objectives of their home country.
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Read the full article on Reuters >
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© 2007-2017 International Association of Bookkeepers
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*Terms and conditions apply. See website for details. Offers subject to change without notice. Benefits vary depending of tariff selected. IAB Privileges is managed on behalf of IAB by Parliament Hill Ltd.
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