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ICAEW technical round-up: April 2021

This month’s top technical stories on ICAEW Insights include news on the fourth self-employed grant, new EU sustainability disclosure rules and how auditors can report on irregularities, including fraud.
Need to knowSEISS 4 claims open up: HMRC has contacted those potentially eligible for the fourth Self-employment Income Support Scheme grant. ICAEW’s Tax Faculty has updated its guidance and a webinar is available to all members.
Working from home tax relief continues, but new claims required: Employees working from home due to the coronavirus pandemic can continue to claim tax relief on costs not reimbursed by their employer, but a new claim will need to be made for the 2021/22 tax year, HMRC has confirmed. ....

United States , United Kingdom , Republic Of Ireland , Eversheds Sutherland , Chris Sanger , Mark Hammerton , James Mcmillan , David Lyford Smith , Financial Reporting Council , European Commission , Stockport Credit Union , Supreme Court , Technical Advisory Services , Thurrock Council , Companies House , Scrutiny Committee Of The House Commons , Self Employment Income Support Scheme , Corporate Sustainability Reporting Directive , Assurance Faculty , Tax Faculty , Bounce Back Loan Scheme , Can President Biden , America Tax Plan , Advisory Services , Kingdom Endorsement Board , Scrutiny Committee ,

ICAEW technical round-up: April 2021

This month’s top technical stories on ICAEW Insights include news on the fourth self-employed grant, new EU sustainability disclosure rules and how auditors can report on irregularities, including fraud.
Need to knowSEISS 4 claims open up: HMRC has contacted those potentially eligible for the fourth Self-employment Income Support Scheme grant. ICAEW’s Tax Faculty has updated its guidance and a webinar is available to all members.
Working from home tax relief continues, but new claims required: Employees working from home due to the coronavirus pandemic can continue to claim tax relief on costs not reimbursed by their employer, but a new claim will need to be made for the 2021/22 tax year, HMRC has confirmed. ....

United States , United Kingdom , Republic Of Ireland , Eversheds Sutherland , Chris Sanger , Mark Hammerton , James Mcmillan , David Lyford Smith , Financial Reporting Council , European Commission , Stockport Credit Union , Supreme Court , Technical Advisory Services , Thurrock Council , Companies House , Scrutiny Committee Of The House Commons , Self Employment Income Support Scheme , Corporate Sustainability Reporting Directive , Assurance Faculty , Tax Faculty , Bounce Back Loan Scheme , Can President Biden , America Tax Plan , Advisory Services , Kingdom Endorsement Board , Scrutiny Committee ,

Mitigating against exclusion as digitalisation transforms tax

COVID-19 is likely to further spur the global trend towards tax digitalisation. David Lyford-Smith from ICAEW’s Tech Faculty considers changes that will help automate processes to make them more efficient and points to ongoing challenges, such as digital exclusion.
The coronavirus pandemic has placed a massive challenge in the path of tax authorities globally. They have had to continue with business as usual during the crisis while managing additional work and support schemes within short timescales, explains David Lyford-Smith, a technical manager with ICAEW’s Tech Faculty.
In some instances, the pandemic has led to process adjustments and deadline extensions. For example, in March 2020, HMRC in the UK allowed businesses participating in Making Tax Digital (MTD) for VAT more time to implement digital links in their recordkeeping. ....

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Buyers' guide: cloud tech adoption continues to soar

Cloud technology for accountants has been around for over a decade, but with working from home becoming the norm amid the pandemic it has become an essential component for individuals in wildly different locations to be able to work together in real time.
Unsurprisingly, the global market size for cloud accounting software is expected to hit $4.25bn by the end of 2023, according to Flexi. Given all this, accountants and their clients are examining what they need from cloud-based solutions to help them address the challenges they face and to address future trends across the industry.
“Firms are looking for cloud technology to streamline and simplify their IT,” says David Lyford-Smith, Technical Manager of the Institute of Chartered Accountants in England and Wales (ICAEW), which has produced a series of guides to cloud technology for its members. “They want to be able to grow easily and expand their technology as needed, particularly at the moment when firms want to s ....

United Kingdom , Chris Downing , Linda Gibson , Mark Osullivan , Milsted Langdon , James Brighton , Gibson Whitter , Lyndsay Hardwick , David Lyford Smith , Adrian Stevens , Institute Of Chartered Accountants , Receipt Bank , Technical Manager , Chartered Accountants , Tax Digital , Midlands Based Edwards Accountants , Inspire Accounting , Grant Thornton , ஒன்றுபட்டது கிஂக்டம் , கிறிஸ் வீழ்ச்சி , லிண்டா கிப்சன் , குறி ஓசுள்ளிவண் , ஜேம்ஸ் பிரகாசமான , லிண்ட்சே ஹார்ட்விக் , டேவிட் லைஃபோர்ட் ஸ்மித் , நிறுவனம் ஆஃப் பட்டய கணக்காளர்கள் ,